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Leadway Assurance has partnered with Octamile to supply a “PayCover” resolution that enables clients to separate their motor insurance coverage premium funds into manageable instalments.
Managing Director, Leadway Assurance, Gboyega Lesi, introduced this in an announcement made out there to newsmen on Thursday in Lagos.
Lesi stated that the PayCover revolutionary Purchase Now Pay Later (BNPL) resolution goals to revolutionise motor insurance coverage funds by providing unmatched flexibility and ease.
In line with him, PayCover is designed to seamlessly combine with Leadway’s digital and offline cost channels, permitting clients to separate their premium funds into manageable instalments.
“Important options of PayCover embrace versatile cost choices, premium financing by means of short-term credit score amenities, real-time processing of insurance coverage certificates, automated cost reminders, and top-notch transaction safety.
“These options guarantee clients can instantly receive motor insurance coverage protection whereas spreading the fee over time, making it extra accessible and inexpensive.
“Leadway constantly seeks revolutionary methods to supply worth to its clients.
“And the strategic alliance with Octamile for the PayCover resolution aligns completely with the insurer’s dedication to deepen motor insurance coverage.
“That is to make sure that clients get a versatile and handy cost that matches their money administration plans,” he stated.
Lesi defined that with PayCover’s versatile choices and premium financing, the underwriter addressed a big ache level for patrons who discovered it difficult to pay full premiums upfront.
“Now we have little doubt that PayCover will revolutionise motor insurance coverage in Nigeria for its seamless and handy premium cost provision, particularly in these attempting financial instances.
“This initiative affirms our dedication to customer-centric options and making insurance coverage uptake seamless and handy for all,” he added.
Additionally within the assertion, the chief government officer of Octamile, Gbenro Dara, expressed pleasure to collaborate with Leadway to deliver PayCover to a broader viewers.
Dara, additionally the founding father of the corporate, stated that the purpose of the collaboration is to make insurance coverage extra accessible and inexpensive for all Nigerians.
He stated by integrating Octamile’s resolution with Leadway’s intensive community and respected model, PayCover might considerably improve the shopper expertise and drive greater adoption charges for motor insurance coverage.
“This partnership displays our shared imaginative and prescient of leveraging revolutionary expertise to simplify monetary providers and enhance lives.
“We look ahead to seeing how our resolution, with its versatile cost choices and safe transaction processes will positively impression present and new Leadway clients.
“This resolution enhances clients satisfaction by simplifying the cost course of and improves insurers’ money move administration,” he stated.
In line with him, with PayCover, Leadway clients can take pleasure in a smoother, hassle-free expertise when buying motor insurance coverage.
The Information Company of Nigeria (NAN) experiences that Leadway Assurance is considered one of Nigeria’s insurance coverage service corporations, whereas Octamile is an insurtech firm with entry to insurance coverage for Africans.