Finance

African Alliance lists benefits of business continuity

African Alliance Plc has underscored the importance of having a Business Continuity Management process as a firm noting that, the COVID-19 pandemic had minimal effects on its operations because it already had a Business Continuity Management process in place.

The company, said during the lockdown last year, it received premium from the Federal Government on the group life insurance of its workforce faster than every other year.

It linked the achievements recorded during the period to its Business Continuity Management process which it had in place before the outbreak of the pandemic.

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Its Managing Director, Joyce Ojemudia, who disclosed this at the recent Annual General Meeting (AGM) of the National Association of Insurance and Pension Correspondents (NAIPCO), in Lagos recently, sponsored by African Alliance, noted that the company suffered no business halt during the period.

She said the company has always been prepared to withstand any eventuality.

Ojemudia, who was represented by the company’s Head of Marketing, Emmanuel Eburajolo, stated that the COVID-19 came unexpectedly, with a lot of challenges and many companies were caught unawares.

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She, however, said at African Alliance, the impact was minimal because of its Business Continuity Management process.

“We had a process that was digitally enabled and this aided the smooth continuation of our business and services with customers even when some companies were still grappling with the situation and trying to find their feet,” she said.

She, however, urged the media to collaborate with the insurance industry for enhanced insurance awareness in Nigeria.

According to her, “we all agree you are the loudspeakers of our industry. Without you, whatever goes on in our industry would go largely unnoticed and unreported, pretty much like someone winking in the dark.

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“But this is not an easy task, being gatekeepers for an industry that is older than Nigeria as we know it, with various interests and mindsets.

“However, someone has to do it, and I daresay you are doing very well. But can we do better? Yes, we can. Even the best of outcomes can get better,” Ojemudia said.

Sunnews

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