Business
Expert Clears Air On Due Process In Insurance Claims

An insurance expert, Gus Wiggle, has given clarification to the Nigerian public on how to have smooth claims payment from their insurance policy.
He said many people buy insurance policy just to satisfy the legal demand, without understanding that they should report the incidents or accident to their insurance company.
Wiggle, former Chairman of the Nigeria Insurers Association, and well-experienced insurance technocrat in a statement titled ‘Claims Management in Nigeria; Our Vision’, made available to The Tide, stated that many insurance policy holders do not know the extent of their coverage.
According to him, many of these insurance policy holders resort to setting claims from their pockets, thereby denying insurance companies access to data from the road and construction sites.
Wiggle, the founder of Carefirst Consult, a firm established to pioneer a new outlook in claims management to strengthen the value chain in the insurance industry, also said the #EndSARS riot inspired the firm, coupled with many policyholders not knowing the extent of their insurance coverage.
“Many people are just buying insurance to satisfy the law without understanding that they should report the incidents or accidents to their insurance companies, and resort to settling many claims from their pockets while denying the insurance industry of data capturing of claims on our roads, construction sites and product liability,” Wiggle said.
The new company, according to him, would drive and deliver a new experience for uninsured victims of accidents, policyholders, insurance companies and corporate institutions.
Specifically, he said Carefirst Consult would assist victims of motor or workplace accidents to get compensations against the insurers of the motor vehicles or their principals against their liability insurance policies.
Their services would also include assisting policyholders who were either denied payment, or offered a settlement that was unreasonably low and unacceptable.
Carefirst Consult, he added, would undertake claims investigation, portfolio audit for corporate institutions, and verify the actual risk exposure and risk classifications.
According to him, comprehensive and quality insurance audit had been found to be beneficial to corporate institutions, thereby saving time, money and resources at the time of any eventuality.
By: Corlins Walter
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