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  • AXA Mansard is ‘Best MSME Insurance Company’

    AXA Mansard is ‘Best MSME Insurance Company’

    AXA Mansard Insurance Plc has been named  the ‘Best MSME Insurance Company of the Year’ by leading business publications, Nairametrics and the Economic Forum Series (EFS).

     This announcement was made at the  Annual MSME Finance Awards 2024, in Lagos.

     The recognition, which is endorsed by the office of the Vice President on MSMEs & Job Creation, underscores AXA Mansard’s continued dedication and innovations to strengthen MSMEs in the country.

     According to the organisers, the decision for AXA Mansard nominations was reached based on its preliminary scores on an initial assessment as well as extensive deliberations by the Editorial Board of Nairametrics Financial Advocates and the Editorial Advisory Board of Economic Forum Media.

    Chief Marketing Officer, AXA Mansard Insurance Plc, Adebola Surakat, said the award is another testament to the continued commitment of AXA to provide the right level of support for MSMEs in Nigeria.

     She explained that the company recognises the power of MSMEs and continues to innovate to support them through solutions that can mitigate the impact of the volatile business environment.

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      “We are all aware that MSMEs are the backbone of the economy especially, an emerging economy like Nigeria.

    ]As a company, we are aware of the different risks that threaten these businesses and their potentials to create jobs and improve our economic indices.

    So at AXA, we have committed ourselves to ensuring that we design solutions that can mitigate those risks, so these business can grow and scale in a sustainable manner”.

     “We are extremely happy that today, these solutions that we create in the corners of our offices is generating so much impact, so much that we were shortlisted and after going through the rigorous process, we are pronounced winner of the award tonight.

    We take this honour very seriously. It signals the trust that the market has in us and will serve as another reminder that we must not rest on our oars”, Surakat noted.

     Annual MSME Finance Awards 2024 celebrates innovative financial services and regulatory support for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.

    This initiative is part of The Economic Forum Series® (EFS) in collaboration with Nairametrics Financial Advocates Limited, a leading financial and business news platform.

     As a major player in Nigeria’s insurance landscape, AXA Mansard continuously strives to support MSMEs and startups with innovative solutions tailored to their unique challenges, and contributing to the broader economic growth of the nation.

    One of AXA Mansard’s flagship initiatives is its Annual Innovation Exchange Program, a 15-week accelerator designed to support technology innovators addressing challenges within the insurance sector. This program connects startups with industry experts, mentors, and experiential learning opportunities through masterclasses and collaborative sessions.

    Successful participants may also benefit from AXA’s support as early customers.

  • AXA Mansard to mentor five startups

    AXA Mansard to mentor five startups

     Five Startups have been admitted into the third cohort of the AXA Mansard accelerate programme called Innovation Exchange programme. 

      The startup companies are Bunce – a customer engagement and management platform, Debbo Africa – a healthtech company, Drug Store – a pharmacy technology innovator; Legacy – an insuretech  company and Xchange Box – a fintech company.  

    The Innovation Exchange is a 15-week programme designed by AXA to support technology innovators looking to solve challenges within the insurance space. The programme provides a platform for these startups to access industry experts, mentors, and experience-based learning through a series of masterclasses, office hours and co-creation sessions.

    Successful startups from the programme can also have AXA as one of their early paying customers.  

    On the development, the Chief Financial Officer, AXA Mansard Insurance Plc, Ngozi Ola-Israel, the application process which began in July attracted over 50 entries from different innovators. “These entries were exposed to different levels of rigorous reviews from experts across our company before we arrived at the final five”, she noted.  

    “As a leader in unlocking technology to accelerate the growth of insurance in Nigeria, the interests and entries in this programme are  conviction that our industry is advancing in the right direction. 

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      The sheer number of innovations that we have seen convinces us of the possibilities and opportunities that the insurance industry can bring to our national development. 

      What this tells us is that there are innovators who have seen the challenges that we face as an industry; and they are creating different types and levels of opportunities by solving the problems.

    So in the end, the innovators win, the customers win, the industry wins and ultimately our economy wins from being able to fully harness the benefits of insurance”.  

      “So, we congratulate the newly admitted cohort members selected from all those who applied. Our aim is to be able to expand the programme as we go and get more innovators on board to help them accelerate”.  

    This cohort members were selected based on their ability to demonstrate solutions for New Insurance Models & Products and provide Value-Added Services such as gamification solutions for enhancing digital customer interactions, retention and emergency assistance services. 

     The innovation exchange programme was launched in 2022 and has since accelerated 10 startups.

    Some of them include, Curacel, GeroCare, Clafiya, Chekker, LegitCar, MyItura & Inocul8

  • AXA Mansard recommits to sustainability

    AXA Mansard recommits to sustainability

    Chief Client Officer (CCO), AXA Mansard, Rashidat Adebisi has said that the company’s purpose of Acting for human progress by protecting what matters is at the heart of its sustainability agenda.

     She made this known when speaking to top business leaders in Nigeria on aligning the drive for profit with shared value principles.

    Adebisi, a guest speaker at the launch of Shared Value Nigeria, told the industry leaders that value creation for all is where everyone wins.

    “It means that people live better lives, the planet is protected, and the business makes profits to fulfill its obligations to its stakeholders. It involves fostering sustainable growth, innovation, and ethical practices that benefit today and preserve tomorrow,” she explained.

     She said: “For us at AXA, our perspective on profit with purpose is at the heart of our sustainability agenda. We believe that a sustainable world is an insurable world. So, if we continue committing ourselves and resources to making the world safer, secure, and healthier, we can create prosperity for everyone.”

     She explained that AXA has a two-pillar approach to sustainability: climate change and inclusive protection.

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     “This involves conscious efforts to minimize environmental impact and ensure that we drive health, well-being, and economic inclusivity within the vulnerable community such as women, children, girls, and so on,” she explained. She said this has informed operational re-engineering, driving the increasing digitization of the company’s processes today and the consequent customer satisfaction and industry leadership that AXA enjoys in Nigeria and globally. She added that in addition to operational changes, AXA Mansard strategically avoids supporting industries detrimental to long-term sustainability.

     Conversely, the company invests in sectors promising future growth and stability.

     She also said the company’s continued collaborations with telecoms, fintech, and retail sectors are some of its strategic moves for sustainable shared value principles. “On the one hand, these partnerships have been pivotal in expanding our reach across Nigeria, which is good for business, but on the other hand, they have also helped create more impact.

    We have reached more vulnerable communities through this digital and technology acceleration with healthcare services, capacity development, and financial empowerment programmes. This is the bedrock of our inclusive protection because if you look closely at the model, there is value across the chain for everyone. The same for our involvement in climate change; if the world is safe, we will be here to insure the prosperity that it brings”.

     AXA Mansard’s commitment to sustainability recently earned it recognition as one of the sustainability leaders in Africa by Brand Finance.

  • AXA Mansard wins award

    AXA Mansard wins award

    AXA Mansard, a member of AXA, was named the General Insurance Company of the Year at the 2023 edition of Almond Insurance Industry Awards.

    The Almond Insurance Industry Awards is designed to promote the best practices in corporate management, leadership, governance, innovation, and sustainable growth within the insurance sector.

    According to the organiser of the event, the yearly event serves as a platform to acknowledge and celebrate the remarkable achievements of industry professionals.

    Receiving the award, Chief Security Officer, AXA Mansard Insurance, Adekunle Akinbowale, said the award, which was presented to the company at a ceremony in Lagos, was another testament of its industry leadership and unwavering commitment to customer service.

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    According to him, the award is another testimony to the relentless efforts of the underwriter team to ensure that AXA’s purpose of acting for human progress is experienced by every Nigerian.

    Chief Executive Officer, AXA Mansard Insurance Plc, Kunle Ahmed, said the recognition would spur AXA Mansard to continue to do more for its customers and provide exemplary leadership for the industry, especially at a time like this that is beclouded by uncertainties.

     “We are once again, humbled by this award as the General Insurance Company of the Year because it signals the level of confidence that customers have in us. It is another way customers have spoken that since we always put them first; they will always prefer us as well.

     We are aware that this is another challenge to do more. We do not take their trust for granted, but we accept the challenge to do more across all our business lines – General, Life, Health and Investments,” Ahmed said.

  • Why generational shift presents challenges, opportunities in workforce retention, by AXA Mansard

    Why generational shift presents challenges, opportunities in workforce retention, by AXA Mansard

    Omowunmi Adewusi, the General Counsel and Human Resources Director at AXA Mansard, highlighted that the ongoing generational shift—with Baby Boomers, Gen X, Millennials, and Gen Z all coexisting in organizations—creates both opportunities and challenges for employee retention efforts. 

    She made these remarks during her keynote address at the 2024 Human Resource Professionals Workshop, hosted by the Career Office of Pan-Atlantic University. 

    The event’s theme was “Employee Retention Strategies: Building a Resilient Workforce with Technology and Trends.”

    She noted that traditional work models, characterized by fixed hours, on-site presence, and manual labour, no longer resonate with the modern workforce.

    She explained that technological advancements had fuelled the demand for remote work capabilities, digital tools, and collaboration platforms.

    “So, the real challenge for HR practice today is how to bridge the gap between the divide and foster a resilient workforce that can thrive in today’s dynamic business and economic environment,” she said. 

    Adewusi added: “Technology is no longer a nice-to-have. Digital tools, remote work capabilities, and collaboration platforms are essential for attracting and retaining top talents”. 

    Similarly, leveraging data analytics to forecast potential employee turnover and pinpoint those at risk of leaving can be invaluable.

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    She noted that taking proactive measures to address their concerns can significantly impact retention. 

    She encouraged HR professionals and organisations to invest in self-service HR portals, mobile apps for easy access to information, and cloud-based platforms that encourage seamless communication and collaboration.

     Adewusi emphasised that continuous learning is a key skill for success, explaining that the business environment is constantly evolving.

    She advised organisations to pay Increased attention to employee development through on-demand learning platforms, noting that commitment to learning always fosters a culture of growth and keeps the workforce engaged in current and future market evolution. 

    She encouraged HR professionals to Invest in work-life integration, employee wellness initiatives, and always remember to add a human touch to HR policies and practices. 

    Adelusi remarked: “Retention is about more than just perks. Recognition programs, opportunities for career progression, and a culture that values diversity and inclusion are crucial for building long-term commitment.” 

    She noted that a robust and resilient workforce forms the foundation for any thriving organisation.

     Using the opportunities and confronting the challenges presented by today’s dynamic market conditions to retain top talent is the ultimate litmus test for determining HR’s invaluable contribution to business growth and long-term sustainability. 

  • AXA Mansard backs MSMEs owners with grants

    AXA Mansard backs MSMEs owners with grants

    As part of its continued commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country, the global leader in insurance and asset management, AXA Mansard has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.
    The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.
    The business pitch competition, aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria,” said Head of Marketing, AXA Mansard, Olusesan Ogunyooye, .
    The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
    According to Ogunyooye, the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community.

    Read Also: AXA Mansard backs MSMEs owners with grants


    He stressed the importance of investing in women, saying that it is not just the right thing to do; but also aligns with AXA’s purpose of acting for human progress.
    He explained that AXA believes the future of women shouldn’t be at risk; hence investing in their economic empowerment is a crucial part of women derisking their future.
    He explained, “Women are very important in the socio-economic interplay. But more important are women who run MSMEs. We are all aware that MSMEs are the life blood of any economy. So the more of them we empower, the more jobs we can create, the more wealth can be distributed. So this grant for us at AXA is the right thing to do in a lot of ways and we are looking to do more for the Nigerian women and MSMEs”.
    The winners of the competition are Lawon Ajoke, Founder of Calcium Hub, Ngozi Ada Onyekwelu, Founder of Ibbie Gold Smart Cards, and Taiwo Esther, Founder of Damseth Enterprise. Calcium Hub won the start grant of one million naira; while Ibbie Gold Smart Cards and Damseth won two hundred thousand naira respectively.
    AXA Mansard is a leading financial services provider committed to helping individuals and businesses achieve their financial goals. With a focus on insurance, asset management, health insurance, and pension fund administration, we strive to provide innovative solutions that meet the evolving needs of our clients, helping them progress in their daily lives.

  • AXA Mansard backs MSMEs owners with grants

    AXA Mansard backs MSMEs owners with grants

    As part of its continued commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country, the global leader in insurance and asset management, AXA Mansard has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.

     The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.

     The business pitch competition, aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria,” said Head of Marketing, AXA Mansard, Olusesan Ogunyooye,  .

    The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.

    According to Ogunyooye, the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community.

    He stressed the importance of investing in women, saying that it is not just the right thing to do; but also aligns with AXA’s purpose of acting for human progress.

    Read Also: AXA Mansard launches new Life Insurance Policy

     He explained that AXA believes the future of women shouldn’t be at risk; hence investing in their economic empowerment is a crucial part of women derisking their future.

     He explained, “Women are very important in the socio-economic interplay. But more important are women who run MSMEs. We are all aware that MSMEs are the life blood of any economy. So the more of them we empower, the more jobs we can create, the more wealth can be distributed. So this grant for us at AXA is the right thing to do in a lot of ways and we are looking to do more for the Nigerian women and MSMEs”.

     The winners of the competition are Lawon Ajoke, Founder of Calcium Hub, Ngozi Ada Onyekwelu, Founder of Ibbie Gold Smart Cards, and Taiwo Esther, Founder of Damseth Enterprise. Calcium Hub won the start grant of one million naira; while Ibbie Gold Smart Cards and Damseth won two hundred thousand naira respectively.

    AXA Mansard is a leading financial services provider committed to helping individuals and businesses achieve their financial goals. With a focus on insurance, asset management, health insurance, and pension fund administration, we strive to provide innovative solutions that meet the evolving needs of our clients, helping them progress in their daily lives.

  • AXA Mansard launches new Life Insurance Policy

    AXA Mansard launches new Life Insurance Policy

    AXA Mansard, a member of AXA, a global leader in Insurance and Asset Management has launched a new life insurance product, Endowment Plan, which will pay policyholders 100 per cent of their sum insured at the end of the tenure if the policyholder is still alive.

     Also, the underwriter assured customers of payment of any unfortunate demise of the policyholder before the end of the tenure, the company will pay the beneficiary of the policy the sum insured.

    The company says this innovative product is our response to the need of the insuring public rather than just pushing our existing products.

     The product seeks to demonstrate that life insurance is not just about death benefits, which the policyholder wouldn’t witness, but about living a quality life when alive.

    According to Kunle Ahmed, the CEO of AXA Mansard Insurance, this new endowment policy is another demonstration of the company’s mission of moving from being a payer to a partner. He said that the company believes that as a progressive partner, it should address the different needs of the segments it serves and that this product addresses the needs of customers who want to enjoy the benefits of their life insurance coverage while still alive.

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    “This product is three in one. It offers the benefits of saving, investing, and life insurance coverage in one product for the same price. With this product, our customers can save towards their cherished dreams.

     While they save, they also get investment benefits because, at the end of the tenure, the sum insured is paid back 100 per cent with some interest. And if death or disabilities arise in the cause of this savings, the named beneficiary of the policyholder also gets the sum insured paid out. So there is no need to worry about having an investment but no life insurance or having life insurance they cannot benefit from until death or permanent disabilities arise. Our Endowment plans are here to bridge that gap”.

    “With this product, you can save towards a future goal such as personal or children’s education, real estate acquisitions, or any other dream goal. And if life happens before the end of your preferred tenure, the beneficiary of your policy gets paid the full sum insured. And if you’re alive at the end of your tenure, you’re paid your sum insured with some interest, and you can go ahead to realize your dream. That is what a partner does, and that’s why we have developed this product,” Ahmed explained.

    Also speaking about the product, Abisola Nwoboshi, Head of Life Business, AXA Mansard, said the products are designed with customers in mind, noting that customers can choose a plan that is most convenient and suitable for their needs and financial comfort.

    She said, “There are two variants of this product that give our customers a lot of flexibility. Depending on the investment plan, a customer can choose the regular endowment plan, where she can get paid the full sum assured at the end of the tenure, or opt for the anticipated endowment option, where the customer can cash out 20%, 30%, and 50% respectively over the tenure of the policy. So, it all depends on what your investment goals are. And in case of death or permanent disabilities, the named beneficiary of the policy holder gets the full sum assured”.

    She added that the product also offers contribution flexibility, explaining that customers can choose different options, ranging from a one-off contribution to a monthly or yearly contribution.

  • AXA Mansard partners women

    Women have become an important market for the insurance, pension and the financial services sector, the Head of Business Development at AXA Mansard Pensions Limited, Ms Naomi Aduku has said.

    Aduku, in a statement, said this is why AXA Mansard Pensions partnered  the LagosMums to hold its Sixth Parenting Conference and Exhibition  in Lagos.

    The event has become a popular forum for mothers to meet, network, share experiences, talk about parenting, discuss ways to achieve work – life balance and many more activities.

    She stated that the company was proud to be a part of the event, which encourages engagement of women in various works of life.

    She said a woman, whether as entrepreneurs or heads of household,  make financial decisions more than they used to.

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    According to her, women own one-third of the world’s businesses, and their average income in emerging markets continues to increase. As such, the financial decisions that women need to make in their journey as professionals, entrepreneurs or business women are very vital and should be properly managed at the start through to their retirement.

    In emerging economies like Nigeria, the purchasing power of women is increasing, as well as access to education and higher-level employment. The Woman’s role in the economy is growing as gender differences in labour market participation narrows, she added.

  • AXA Mansard posts N22b shareholders funds in half year

    AXA Mansard Insurance plc, a member of the AXA Group has announced its unaudited financial results for the period ended June 30, 2019.

    The company’s  Group Shareholders’ Funds stood at N22.49 billion, up eight per cent from N20.90 billion as at December 2018.

    The company also recorded Gross Written Premium of N29.36 billon in the period under review, up 25 per cent from N23.54 billion in June 2018.

    It posted a net premium income of N12.08 billion, up 26 per cent from N9.56 billion in June 2018 while its Investment and Other Income stood at N2.84 billion, down 13 per cent from N3.28 billion in June 2018.

    The Operating Expenses which stood at N3.52 billion, remain flat from N3.52 billion in June 2018.

    Meanwhile, profit before tax of N1.57 billion, down 16 per cent from N1.87 billion recorded in June 2018.

    Total Assets grew by 14 per cent to N81.24 bilion from N73.77 billion as at December 2018, Insurance Liabilities up 32 per cent to N29.65 billion from N22.54 billion as at December 2018.

    Commenting on the results, the Chief Financial Officer, Mrs. Ngozi Ola-Israel  said : “At the end of the half year, we grew top line (gross written premium) by 25 per cent and underwriting profits by nine per cent with no growth in operating expenses compared to last year. This positive performance is an indication that our efforts to continually grow the business profitably are on track. However, our profit after tax dipped by eight percent  driven by one off loss on the sale of part of our investment property”.

    Commenting on AXA Mansard’s financials at the end of June 2019, the Chief Executive Officer, AXA Mansard Insurance, Mr. Kunle Ahmed said ‘’prompt claims payment remains critical to the actualisation of insurance companies’ promise to return clients to their pre-loss financial position. The group closed with gross claims payment of N6.8 billion to various clients, attesting to our well tested commitment to meeting our obligations to our customers’’.

    Commenting further on the results, Mr. Ahmed said: “The group closed with shareholders’ fund of N22.5 billion, representing a growth of eight percent from our position as at the end of 2018. Specifically, for our insurance business, we closed half year with shareholders’ fund of N18.2 billion.