Mutual Benefits Assurance Plc assures of safety of customers’ funds, investments; Insists on zero tolerance for fraud

 Leading insurance company, Mutual Benefits Assurance Plc, has reassured that it has zero tolerance for fraud and would do everything to ensure the safety of customers’ funds and investments.

Reacting to an online publication that alleged unethical practices going on in    the company, a statement by Ellen Offo, Head, Corporate Communications of Mutual Benefits Assurance Plc said that though the report did not mention any specific member of staff, the company has taken immediate steps to investigate the allegations, assuring that whoever is found culpable would be prosecuted.

The statement also said that the company has, as a deterrence, “instituted a policy against payment of cash to members of staff,” stressing that apart from the fact that the accepted mode of payment is clearly stated on all the company’s proposal forms and policy documents, “MUTUAL BENEFITS has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with our third party insurance scratch cards.”

The full text of the statement is reproduced below:

 MUTUAL BENEFITS ASSURANCE PLC’S STATEMENT ON ALLEGATION OF UNETHICAL PRACTICES

Our attention has been drawn to an online publication alleging unethical practices going on in MUTUAL BENEFITS.

While there was no mention of any specific member of staff in the report we do commiserate with the customers involved and we have taken immediate steps to investigate and urgently look into the issues raised in the report.We use this medium to assure our numerous customers that we shall prosecute anyone found to be complicit.  MUTUAL BENEFITS has zero tolerance for fraud; therefore a report like this is viewed with grave seriousness.

As a deterrence, MUTUAL BENEFITS has instituted a policy against payment of cash to members of staff and the accepted mode of payment is clearly stated on all our proposal forms and policy documents.In addition, MUTUAL BENEFITS has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with our third party insurance scratch cards.

MUTUAL BENEFITS has operated for over twenty one years in the insurance landscape as a leading brand in the Nigerian Insurance sector with a reputation for speedy claims settlement and excellent service delivery. MUTUAL BENEFITS is strong, well-capitalized and committed to protecting the interests of our customers at all times. Between January and February this year, claims paid are in excess of N3billion, while over N50 billion was paid as claims settlement between 2012 and 2016 across our business lines.This is a testimony of the value we place on our customers and their needs.

While we encourage our esteemed customers to make use of the several cashless channels of payment we have put in place and to keep track of their transactions; MUTUAL BENEFITS unequivocally states here that our customers are very important to us and we assure them of the safety of their funds and investments.

Customers can access their transactions, from the comfort of their homes on our webportal or by calling MUTUAL CARE line 090546444444 or by email to [email protected].

Once again we reiterate our commitment to protecting our customer’s assets.

Ellen Offo

Head, Corporate Communication

[email protected]