Microinsurance outfit to insure 100m MSME players

Microinsurance outfit to insure 100m MSME players

A licenced microinsurance outfit, CHI Microinsurance Limited is set to insure about 100 million operators in the micro, small and medium enterprises (MSMEs) sector of the nation’s economy.

To this end, the company officially opened up for microinsurance business yesterday, promising to focus mainly on the grassroots.

Speaking at the official launch of the firm in Anthony, Lagos, yesterday, the group managing director/chief executive officer, Consolidated Hallmark Insurance (CHI) Plc, Mr. Eddie Efekoha, said the firm would leverage on the opportunities in the grassroots to make headway.

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As a pioneer national microinsurance outfit, he promised that the new firm will partner artisans, small and medium enterprises (SMEs), microfinance banks (MFBs), cooperative societies, and trade associations, among other players, to appropriately insure risks in the micro segment of the nation’s economy.

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“There are about 100 million people in the micro segment of the nation’s economy. This presents opportunities for us as a firm targeted towards insuring that segment of the society. We have assembled the right people for the job and we can promise you that CHI Microinsurance will pay your claims as and when due, and will offer customers the best of insurance services,” he pointed out.

Similarly, the managing director/chief executive officer of the new firm, Mr. Pius Kariaren, said that the firm has cemented relationships with some groups that deal directly with the grassroots, a development that will give his company an edge in the retail segment of the market.

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