e-Retail Solution Generates N450m for Insurance Industry

e-Retail Solution Generates N450m for Insurance Industry

 

 

Barely one year after the launch of its value-added e-Retail application for the insurance companies in Nigeria, Product Development Director, Botcomm System, Mr. Bunmi Okunowo, said some companies have realised over N450 million in revenue. 

 

 

Speaking exclusively with THISDAY in Lagos, Okunowo said the e-Retail application, which is first of its kind in Nigeria, enables insurance companies to sell their innovative life and general products, to the mass population in form of scratch cards or ATM cards through their mobile phones or Web.


 

“In aiding the aggressive market penetration by the insurance companies, BOTCOMM with its subsidiary Teleworks developed in 2009, a value-added Insurance e-Retail application for the insurance companies in Nigeria. Within one year of using the application to drive their Life and General products to the seemingly unreached sectors of the market, some of the insurance companies have been able to realise revenue over N450million, unprecedented new policy holders in mass markets. Leading in this space is Royal Exchange Plc,” he said.


 

In aiding the aggressive market penetration by the insurance companies, BOTCOMM with its subsidiary - Teleworks developed in 2009 a value-added Insurance E-Retail application for the insurance companies in Nigeria. Within one year of using the application to drive their Life and General products to the seemingly unreached sectors of the market, some of the insurance companies have been able to realise revenue over N450million, unprecedented new policy holders in mass markets. Leading in this space is Royal Exchange Plc.


(Source: ThisDay) 


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