Wema Bank, an emerging leader in financial innovation, recently concluded arrangements with AIICO Insurance Plc., one of the leading insurance companies in Nigeria, to increase access to retail insurance products leveraging the bank’s network. The formalisation of this partnership follows its endorsement by the National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN).
Following the increase in uptake of retail insurance products and services across the country, the Head, Retail & SME of Wema Bank, Dotun Ifebogun said the bank is delighted with the partnership, noting that through it, Wema Bank will be able to refer customers in need of any form of insurance to AIICO through it wide branch network and digital platforms.
This is a strategic move to position the bank as a one-stop shop with a bouquet of products and services that meet a variety of needs. Both organisations have a legacy of trust and resilience that has won the loyalty of customers over decades.
Reacting to the development, AIICO Insurance Technical Executive Director, Adewale Kadri said it was another move by AIICO to demonstrate its commitment to increase awareness and deepen access to retail insurance products in Nigeria. The public can now access AIICO’s bouquet of retail products through Wema Bank’s digital channels.