There are several insurance companies in Nigeria. Particularly, one of them is the Wapic Insurance Plc. This post gives you an overview of the company, it also covers a review of the services of the company.
Wapic Insurance Plc (Overview)
Wapic Insurance Plc is a leading insurance company in West Africa. It was founded in 1958 and has since offered varieties of insurance products and services covering general, life, and special risk business. Wapic is licensed to underwrite insurance including all risk insurance, goods in transit, fire and special perils, and more.
With over 60 years in business, Wapic Insurance Plc has gained experience in risk management and underwriting as well as providing individuals and corporate entities with various classes of cover. Recently, they changed their name from Wapic Insurance Plc to Coronation Insurance Plc. While they retain their new name, they can still be addressed as Wapic Insurance.
Wapic, now Coronation Insurance Plc operates in Nigeria as ‘Coronation Life Assurance Ltd’ and in Ghana as ‘Coronation Insurance (Ghana) Ltd. They merged with Intercontinental Properties Limited – this merger consolidated the positioning of Coronation Insurance into becoming among the top five insurance companies in Nigeria.
Wapic Insurance has been listed on the Nigerian Stock Exchange (NSE) since 1990. By 2023, the company aims to be amongst the top three insurance companies in Nigeria.
Wapic Insurance Products
The insurance products of this company fall into General, Life, and Investment categories.
1. Life Insurance
This insurance provides indemnity to the lender in the event of the death of the borrower. It erases the burden of loan repayment from the bereaved.
2. General Insurance
This insurance package covers travel, marine, motor, and mortgage. The travel insurance covers risks associated with traveling or migrating outside your country. The motor insurance covers damages on your vehicle and the vehicles of other people. Marine insurance provides indemnity for damages or loss of imported goods and items transported by sea or air. Homeowners can take advantage of the general insurance as it covers damages caused by floor or fire accidents to buildings.
3. Investment Insurance
This investment package is ideal for parents, businesses, and entrepreneurs. It is grouped into the following:
Smart Life Plan: It allows you to save towards specific aims and goals with an embedded insurance cover.
Smart Life+: It helps you save towards short-term obligations and emergencies while providing you with a free life cover.
Smart Senior Plan: This insurance package provides you with a chance to save funds towards retirement coupled with an embedded insurance cover.
Smart Scholar: This investment plan helps you save funds for your child’s future. It helps you save towards financing your child’s education.
Smart Wealth Plan: The Smart Wealth Plan is an insurance package that provides life cover.
You can reach Wapic Insurance (now Coronation Insurance Plc) on any of the following ways:
Address: 119 Awolowo Road, Ikoyi, Lagos
Phone: +234 1 277 4500, +234 1 – 277 4555
Email address: [email protected]
Social Media: www.facebook.com/mywapic, www.twitter.com/mywapic, www.instagram.com/mywapic, www.linkedin.com/mywapic
This insurance company has a customer service that provides information and assistance to clients between the hours of 8 am to 5 pm weekly. You can contact the support on feedback, account concerns, E- Insurance, balance inquiries, and account management.
Coronation Insurance is known for its flexibility, transparency, and excellent customer service. Apart from the head office in Ikoyi, Lagos, Wapic has offices across the country in cities such as Port Harcourt, Ibadan, Enugu, Kano, and Abuja. They seek to protect their customers from all forms of insurable risks. They have a range of products and services for you to choose from, they also provide you with a free life cover – depending on your insurance package.