Claims Payment:  Regency Alliance Pays N200m In 9 Months

Regency Alliance Insurance Plc, has paid about N200million as claims to their clients for the period, January-September 2008.
According to a statement by the Group Head, Corporate Affairs, Mr. Adeniyi Ojebisi, the company's policy of paying claims without tears is aimed at providing succour to its policy holders as fast as possible.  He added that Regency Alliance Insurance now has a reputation of paying claims within 24hours after  necessary documentation and verification would have been done.
To authenticate the company's position, he listed some of those paid to include UBA plc, Bank of Industry and the Delta State Oil Producing Areas.  Development Commission.  Others are 7up Bottling Company, Nigerian National Petroleum Corporation (NNPC) West Africa Scosoning Company Limited, Wema Bank, Nigerian Aviation Handling Company (NAHCO) and Olam Nigeria Limited.  Among individuals who also received their claims are Mr. Femi Williams, Mr. Alex Toju Amorghoye and Ganiyu Ogunwale.
He said claims were made in various areas which include motor, fire, money-in-transit, burglary, marine, workmen compensation insurance.
The Managing Director Mr. Biyi Otegbeye added that “the era of delay is gone” while advising anyone who has genuine claim to contact the company on-line or visit any branch nearest to them.
Otegbeye said the company has also introduced some value-added services among which is a specialized car tracking device.  There is also a special training for drivers of their clients so as to educate them in relevant areas.  This tracking system is also available in all branches of the company.
According to him, this tracking device is installed in either the clients computer or handset and have been proved very efficient in countries where they have been tested. He stressed that this device are now available for our customers on request in all the company's branches nationwide.
In another development, Regency Alliance Insurance has also recorded a gross premium of N821 million in the first six months of this year.
This represents an increase of 34.50 percent from the N610.56million which the company recorded at same time last year.
There is also an 83.50percent increase in the profit before tax which rose from N101.2million to N185.70million in the first half of the year.
According to the Managing Director, Mr. Biyi Otegbeye, the company, Regency Alliance Insurance Company Plc is one of the most innovative insurance firms. The company’s branch network has also been on the move, rising from six to 14 functional branches.
The company has offices in Ghana where the services of the company have been integrated on-line. This has led to better response time with an enhanced turnover of staff.