In a bid to expand product offerings, Mutual Benefits Assurance Plc has entered into a franchise agreement with Odua Investment to distribute insurance in the six south-west states.
The insurance provider while inaugurating its south-west region franchise operation at Ibadan, Oyo State, said the development is part of its effort to increase insurance participation by Nigerians in the region.
Femi Asenuga, Managing Director, Mutual Benefits Assurance while speaking at the event said the firm would provide stakeholders with the platform and support to make them excel as a member of the group.
“The role we all have to play is to be ambassadors of Mutual Benefits. A franchise is a well-known word and the way Mutual Benefit practice franchise is in our normal style of creating and adding value,” he said.
Adewale Raji, the Group Managing Director Odua Investment noted that the company is interested in seeing businesses as well as investments spread across the southwest states.
“This is an opportunity for us to strengthen insurance penetration within the southwest states. This is why Odua investment is interested in a venture like this because it is helping the economic development of the southwest.
“Beneficiaries are privileged to be associating with a credible brand and it is important they equip themselves with the right knowledge and competencies to relate with the public. In so doing, they should brush on a value coming from this brand for them to increase their economic ethics and deepen their knowledge about insurance,” he said.
Also speaking at the event, Ademola Ifagbayi, urged stakeholders to take advantage of the franchise in a bid to increase insurance participation in the country.
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