Sovereign Trust Insurance (STI) Plc, one of the leading insurance companies in Nigeria is committed to providing insurance and financial services at international standards while aiming to improve the daily lives of its many clients through innovative insurance and financial services, creating exceptional value for their clients. shareholders.
Established in 1995, Sovereign Trust Insurance Plc continues to fulfill its mission of providing benefits to Policyholders with a focus on claims settlement which today, has described the company as one of the leading companies in the insurance industry. companies.
Evidence of this showed that the company has paid out over N13.3 billion as claims over the five years between 2016 and 2020, proving its financial viability and unwavering commitment to guaranteeing its customers peace of mind while travelling. their various products without any kind of fear.
Olaotan Soyinka, general manager/CEO, Sovereign Trust Insurance Plc while commenting on the details of the complaint said it is in the company’s policy to pay all claims promptly, saying that debt recovery is one of the main reasons the company is in business.
Mr. Soyinka said, “We consider product payment to be very important to our company and that is why we have been trusted by our clients and brokers we have done business with over the years”.
He said that insurance aims to create trust and confidence, and that is why customers who benefit from our service continue to recommend us to other customers without our knowledge.
He also said that the company has developed the ability to meet all the needs of customers by providing quality products and responding to all inquiries quickly so that customers can be satisfied.
Olaotan Soyinka said to achieve this success in customer service, the company has invested heavily in technology that ensures customers from anywhere.
part of the world can submit their claims, follow the process and get paid without having to meet with the staff.
According to him, this applies to all lines of business, except for those that require the involvement of regulators and for additional purposes.
Commenting on the organization’s goal in resolving complaints, Mr. Jude Modilim, the Director of Technical Operations said, “there is no disagreement on the establishment of real interest rates in Sovereign Trust Insurance Plc because the main objective of the company is to ensure that most of our customers enjoy the benefits of our brand each of the insurance companies by terminating them immediately if necessary.”
“For us, it is the only way to show that we are good and alive to our work as a writing company in the country. We want to fulfill this responsibility and we will always try to fulfill our promise, added Modilim.
The company’s owners are made up of different owners from different people and institutional investors with a strong Board of Directors of well-known personalities.
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In 2021, the Company moved from A- rating to A rating based on the financial condition of the organization and the performance of the organization from a regulatory perspective. Our success over the years has seen the company operate among the best in the insurance industry in the country.
From the year 2007 to the year 2020, the Global Credit Rating (GCR) of South Africa has rated the company A- by confirming that the company has the ability to pay large sums in the insurance company. Considerations for the price were among others based on the company’s high value and the implementation of the Enterprise Risk Management framework, (ERM) as well as good internal cash flow, good returns, foreign currency profitability, and a strong financial history. based on the fixed asset allocation method. Sovereign Trust Insurance Plc continues to be a leader in major oil and gas projects in Nigeria.
Since the company’s inception, the company has moved from a small company to a leading position, investing in the best people and technology, improving processes, increasing market share at an average growth rate of 30% and expanding its scope.
The company is continuously striving to be among the top five insurance companies in Nigeria, led by a Board of Directors made up of distinguished individuals who have distinguished themselves in various fields.
With its Head Office located at 17, Adetokunbo Ademola Street, Victoria Island, Lagos and other Area and Branch offices located across the country, the day-to-day operations of the Company are managed by experienced and motivated staff.