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Goldlink Insurance Launches New Products


By Nnamdi Duru, 05.18.2010

The management of Goldlink Insurance Plc, one of the composite insurance groups in the country has introduced four new products.

They are school safety policy, annuity plan, hospitality plus insurance and travel and tours insurance.Reflecting on the new products, Chairman of the company, Mr. Gbenga Afolayan said Goldlink was celebrating ideas put together by its team and principals of three secondary schools.According to him the company combined existing stocks in its warehouse with new technology to demonstrate its capacity to meet the needs and expectations of modern day businesses and accommodate ventures hitherto considered uninsurable through the creation of new products.

He stated that claims and risk management services could be delivered to customers in countries where such claim originated through trans-border alliances just as the modified agency structure initiated by the organisation will create jobs in the country.“Some of the new product will require new sales representative and we will do this in line with the philosophy of NAICOM on employment.  Our graduate self employment scheme is a modified agency structure where you train on a group basis, manage on a group basis and sell on a group basis, annuity with PFA.

“These are the new initiatives and we believe it will work”, Afolayan said.Throwing more light on the products, Managing Director of the company, Mr. Femi Okunniyi described the school safety plan as a moral responsibility to students, teachers and other school staff personnel and it covers public liabilities arising from fire, accidents and injuries to students and other persons as well as the employees of the school.Goldlink Annuity plan according to him,  provides a stream of income to supplement the retirement fund of pensioners protects them from the vagaries of the labour market. “One thing is sure, you will not lose your premium and the money has the potential to produce significant returns” Okunniyi assured.

The company's boss also explained that the Goldlink Hospitality Plus which is tailored to meet the needs of operators in the hospitality industry covers the risks associated with running hotels, restaurants and night clubs.The travel and tours insurance which is exclusive to travelers to Schengen countries provides cover for loss or damage to baggage, clothing, personal effects, out-patient and hospitalisation medical expenses due to sickness or injury incurred overseas, he added.

Okunniyi also confirmed that the global financial crisis has brought out the best in insurance practitioners, making them to look beyond the crisis to how to raise the level of insurance penetration in the country by designing products that will meet the current needs of the people.

“The crisis itself has been an enhancer in deepening our insights and improving our perspectives and market intelligence, equipping us better for the next level.  The great thing is that Goldlink has been rising to the challenge of continued growth in ensuring the provision of good quality services and commitment to improvement and innovation”, he stressed.


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