Capital Express Assurance Limited said it has paid a total of N900 million claims in the past one year just as the company’s Managing Director, Mr Anthony Aletor has said that payment of claims had remained the company’s first priority in the business of insurance.

According to him, capital Express Assurance no longer celebrate claims payment as this is one of the reasons for being in insurance business.

Mr Aletor, who disclosed this while responding to questions from media men during a chat in his office said when you look at that kind of figure, it shows you that one of the things we respond to is claims and we do not owe any claim.

He noted that it is sometimes embarrassing the way the issue of claims is treated especially with regard to enquiring into whether it is paid or not at a time like this when businesses are challenged globally to operate on standard practices.  “Why is the insurance company set up if not to render risk protection services and then pay claims whenever the need arises”, he asks, adding that payment of claims should not be taken for granted by any serious minded insurance company.

According to him, when you are looking at developments in the insurance business, there are vital areas to look at and not necessarily focusing only on claims because we must pay claims as that is the essence for which we are in business.  He disclosed that for Capital Express Assurance, claim is no longer a big issue because it is part of the company’s culture to pay claims and to do so as at when due.  He however, disclosed that the company used to celebrate payment of claims as achievement by going to the press each time a claim was paid.

“When we were younger, we used to celebrate claims but now, we look at it from the angle that we are in this business to respond to issues of claims when they arise so there has been a shift in attitude in this regard while we now focus more on value delivery and customer satisfaction,” he enthused.