Claims/Complaints Procedure

FOR GENERAL INSURANCE CLAIMS:

CLASS OF INSURANCE PERFORMANCE INDICATORSTARGET TIMELINE REMARKS
ALL CLASSES OF BUSINESSACKNOWLEDGEMENT OF CLAIMWITHIN 48 WORKING HOURSCOUNT FROM NOON WORKING DAY OF RECEIPT OF CLAIM NOTIFICATION
PAYMENT OF CLAIM24 WORKING HOURS FOR CLAIMS BELOW N300,000COUNT FROM NOON WORKING DAY OF RECEIPT OF EXECUTED DISCHARGE VOUCHER
72 WORKING HOURS FOR CLAIMS ABOVE N300,000
1 WEEK FOR CLAIMS ABOVE N50m

FOR LIFE ASSURANCE CLAIMS:

Type of Life ClaimsPerformance IndicatorTarget TimelineRemarks
Savings/EndowmentAcknowledgment of Claimwithin 24 hours of receipt of noticeCount from the noon of the working day of receipt of claim notification
Pre-maturity notice signed off by client of validity of account details previously provided
MaturityPayment on the due date
Surrender/Termination48 hours for claims up to N250,000Count from the noon of the working day of receipt of executed voucher
72 Hours for payment higher than N250,000 and up to N7.5m
5 working days for claims above N7.5m
Term AssuranceDeath48 hours for claims up to N250,000Count from the noon of the working day of receipt of executed voucher
72 Hours for payment higher than N250,000 and up to N7.5m
5 working days for claims above N7.5m

NOTE: All hours are for working days only and do not include all public holidays within Nigeria

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