Coronation Insurance Plc, a leading insurance provider in Nigeria, has recently concluded the first phase of its groundbreaking “Insure & Win” promotional campaign, rewarding loyal customers with prizes totaling N30 million. This initiative, designed to bolster insurance awareness and cultivate customer loyalty within the Nigerian market, underscores Coronation Insurance’s commitment to expanding insurance penetration and providing comprehensive protection to individuals and businesses. The campaign’s multifaceted approach, encompassing a series of raffle draws and a strategic partnership with Access Bank, has significantly amplified its reach and impact, resonating with a diverse customer base.
The “Insure & Win” promo represents a strategic move by Coronation Insurance to address the historically low insurance adoption rates in Nigeria. Recognizing the crucial role of insurance in mitigating risks and safeguarding financial well-being, the company aims to demystify insurance products and highlight their tangible benefits to a wider audience. By offering attractive incentives and leveraging the extensive network of Access Bank, Coronation Insurance has effectively broadened access to insurance solutions, making them more accessible and appealing to a larger segment of the population. This proactive approach aligns with the company’s overarching mission of empowering individuals and businesses with the necessary tools to secure their future and navigate unforeseen challenges.
The first phase of the raffle draw, held at Coronation Insurance’s head office in Lagos, witnessed the distribution of a range of valuable prizes to fortunate winners. This event served as a tangible demonstration of the company’s commitment to rewarding customer loyalty and reinforcing the positive association between insurance and financial security. The prizes, ranging from household appliances to substantial cash awards, not only provided immediate gratification to the winners but also served as a powerful symbol of the protective shield that insurance provides. The public nature of the draw further amplified the campaign’s message, generating positive word-of-mouth marketing and encouraging broader participation in subsequent phases.
Olamide Olajolo, the Managing Director and Chief Executive Officer of Coronation Insurance, emphasized the dual purpose of the “Insure & Win” campaign: expressing gratitude to loyal customers and promoting the critical importance of insurance in Nigeria. By linking the campaign to customer appreciation, Coronation Insurance has effectively positioned insurance as a valuable asset rather than a mere financial obligation. This positive framing challenges the prevalent perception of insurance as a complex and unnecessary expense, fostering a more receptive attitude towards its adoption. Olajolo’s remarks further highlighted the strategic alignment of the campaign with the company’s broader objective of driving insurance inclusion and contributing to the overall financial well-being of Nigerians.
The strategic partnership between Coronation Insurance and Access Bank, a key pillar of the “Insure & Win” campaign, has significantly expanded the reach of insurance products. This collaboration leverages Access Bank’s extensive branch network and customer base, providing a readily accessible platform for individuals and businesses to explore and acquire insurance coverage. By integrating insurance offerings into the banking ecosystem, Coronation Insurance has effectively streamlined the insurance acquisition process, removing traditional barriers and making it more convenient for customers to protect their assets and livelihoods. This bancassurance model represents a significant innovation in the Nigerian insurance landscape, demonstrating the potential of strategic partnerships to drive insurance penetration and enhance financial inclusion.
Adebowale Adesona, Managing Director/CEO of Coronation Life Assurance, echoed Olajolo’s sentiments, emphasizing the company’s dedication to providing comprehensive protection and innovative solutions. Adesona’s statement underscored the long-term vision of the “Insure & Win” campaign, extending beyond the immediate gratification of winning prizes to encompass the enduring value of insurance in securing financial futures. The campaign, therefore, serves as a platform for educating the public about the diverse range of insurance products available and empowering them to make informed decisions about their financial security. The testimonials from winners, such as Ejoke Joseph, who received a bedside refrigerator, further reinforce the positive impact of the campaign, showcasing the tangible benefits of insurance and inspiring others to embrace its protective embrace. The campaign’s success in generating excitement and fostering a sense of reassurance amongst customers underscores its effectiveness in promoting the value proposition of insurance and encouraging wider adoption within the Nigerian market.
