Business

Underwriter targets riders with new offering

underwriter targets riders with new offering

There is relief for motorcycle riders as an underwriting firm, Universal Insurance, has introduced a compensation plans for riders in case of accident.

The initiative, titled, “Okada Personal Assurance and Safety Scheme (Okada Pass),” is aimed at ensuring the safety of riders and their passengers on Nigerian roads.

The Managing Director/Chief Executive Officer of the firm, Benedict Ujoatuonu, said the new plan is designed to provide cover for personal accidents to the insured Okada rider. The products will also be sold as an individual policy and as a group scheme to riders.

The premium will depend on policy choice, and the scheme comes in five different plans, which are Jeje Cover, Carry-Go Cover, No-Shaking Cover, Confaam Cover and Digital Bike Cover.

Ujoatuonu said: “The level of accidents that involve the Okada riders on Nigerian roads, they are high. And most often you discover they are left without any form of benefits from insurance. So, this is what Our Okada Pass is coming to take care of.

“We provide them with personal accident cover that makes sure that when they sustain any injury that requires medical attention, they get it from the policy. Even if it is a disability, which is very rampant in Okada business, they will be covered by our policy.

We will compensate the family of the rider if it results in death. Our Okada Pass is an innovative insurance product which has everything they need in the cover.”





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