Coscharis Motors has signed a Memorandum of Understanding (MoU) with AIICO Insurance Plc and Tangerine Life as part of measures to incorporate insurance into its automobile sales.
Speaking at a joint news conference in Lagos, General Manager, Marketing and Corporate Communications, Coscharis Group, Mr Abiona Babarinde, explained that the partnership was conceived to promote cost-effective premium insurance for brand-new vehicles purchased from the automobile company.
Babarinde said, “The idea of a joint cost effective premium insurance was conceived by the three reputable brands to deliver multiple value for money when it comes to purchase of brand new vehicles with a robust opportunity to insure the vehicles at a very lucrative insurance premium rate that is compelling enough in the market.
“One of the primary objectives of this partnership is to provide existing and prospective customers of Coscharis, AIICO and Tangerine avenues to enjoy premium automobile after-sales service backed with risk protection from the underwriting companies, guaranteeing peace of mind at a minimal cost of 1.75% premium from the moment they purchase any vehicle of their choice from the Coscharis dealership.
“As a result, existing and prospective customers of Coscharis will continue to enjoy premium automobile after-sales service.
“This will be backed with risk protection from any of the underwriting companies, guaranteeing peace of mind at a minimal cost from the moment they purchase any vehicle of their choice.”
On his part, the head, Partnership & Alliance at AIICO, Mr. Piyush Srivastava, appreciated the trust reposed in AIICO by the Coscharis Group.
He said:“From this partnership, Coscharis Motors’ clients stand to gain significantly. among other backend processes in place, we have developed procedures to speed up the claims process and they would enjoy a seamless customer experience”.
Explaining further, Srivastava said: “We appreciate the trust reposed on us by the Coscharis Group, giving us this platform to bring on board our experience, expertise and capacity for underwriting this kind of business. From this partnership, Coscharis Motors’ clients stand to gain significantly. Among other backend processes in place, we have developed procedures to speed up the claims process and enjoy a seamless customer experience. In addition, customers are to get priority attention for necessary repairs or replacements.”
Presenting the perspective of Tangerine General Insurance, Group Executive Director, Commercial, Yewande Adewusi said:“The partnership became necessary given the current socio-economic reality. We need to give support that automobile ownership is eased with all relevant assistance especially in areas of maintenance concerning untoward incidents.”
Tangerine is a leading technology and financial services platform in Africa that consistently goes the extra mile to improve the financial security of our consumers. By merging deep consumer insights and cutting-edge technology, we have built a range of carefully tailored products which improve the quality of your life.
“Our reliable financial service product offerings create and protect your wealth, guaranteeing you and your loved ones an enjoyable future.”
