In a bid to further deepen the retail end of her market as well as increase the company’s market share, one of the prolific Underwriting firms in the country, Sovereign Trust Insurance Plc has officially flagged of its Insurance Agency System in Lagos.
While addressing the newly engaged agents at the inauguration ceremony, The Managing Director of Sovereign Trust Insurance Plc, Mr. Wale Onaolapo advised that they should view the Agency system as an opportunity to empower themselves economically bearing in mind the entrepreneurial spirit inherent in each one of them. He stated unequivocally, “The Agency system is an empowerment tool; it gives you the power to decide what you take home at the end of the day. Apart from the day-to-day operational support the company will be providing, you have total responsibility of generating your businesses and as you do so, you will be increasing your own profitability by way of earning good commissions. The more business you bring, the more commission you earn”.
Addressing the agents further, Onaolapo stated that “The agency system of Sovereign Trust Insurance Plc is geared towards building business leaders at the micro level of the Nigerian economy and that, they should see themselves as extremely fortunate getting such support from one of the industry’s pacesetters. “It is your business, you choose the hours, you run your business and you earn the rewards that come with being successful”
In a statement made available to Journalists over the weekend, the Head, Corporate Communications and Brand Management of Sovereign Trust Insurance, Mr. Segun Bankole stated that the Agency System was flagged off in Lagos based on the enormity of the commercial activities prevalent in the State. Other commercial cities such as the Federal Capital Territory, Port Harcourt and Kano will benefit from the agency system in a not-too-distant time. He also stated that the rationale behind the setting up of the Agency System “is to enable the agents make a difference in their lives and immediate communities by helping their neighbours protect their wealth against risks”. According to him “Sovereign Trust Insurance Plc is committed to backing up the agents with products, services and customer support that are second to none”.
To equip them for the job and the challenges ahead, the agents have in the last couple of weeks been undergoing intensive training and orientation programme on the rudiments of Insurance, general overview of the Industry, the various products available in the stable of the company.
Sovereign Trust Insurance Plc is fast emerging a force to be reckoned with in the Nigerian Insurance Industry with a network of twenty one (21) branches spread across the country and solid capital far in excess of the minimum required level of N3Billion in the industry. The company towers high above its peers in the industry. It will be recalled that Sovereign Trust Insurance was recently rated A- for the second time running by Global Credit Rating (GCR) a world renowned rating agency based in South Africa. The company’s financials in terms of the Gross premium and Profit have been on the upward swing over the years.