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Brands We Love: Leadway Assurance

Nigeria’s insurance industry is growing with the times, spurred on by an increasing appreciation by the country’s educated people of securing their future.

As large sections of this population realize that they can actually hedge against tomorrow’s uncertainties, they are flocking to insurance companies and taking up policies with them. The industry’s Gross Premium Income (GPI) of over $58 billion in 2016 as reported by credit ratings agency Agusto is evidence of this growth, as is the fact that insurance companies paid out over ₦100 billion in claims to policy holders, up from ₦62 billion in 2013.

Leadway Assurance: Est. 1970

Leadway Assurance has played a significant role in placing insurance atop Nigerians’ financial security plans. Incorporated in 1970, it has moved steadily to lodge itself amongst the top insurers. The company’s unmistakable logo, a black camel with a yellow-orange sun as background, is a fitting symbol of this brand’s journey to its present dominant position.

But there’s more to the Leadway’s camel than a confident saunter to the promised land of an ever expanding market share. The firm’s founders may have wanted it to point to Leadway as a burden bearer that takes up its clients’ risk and is strong enough to carry them through life’s ups and downs. In practical terms, this is being done through an array of insurance plans covering vehicles, buildings, education, business and travel.

Valuable Cover

One of the plans available at Leadway is the Pick and Pay Motor Insurance Plan, which insures against the damage and destruction of the policy holder’s cars, as well as injury or death that might result from accidents involving the car. Another plan, the L-Happy, covers household buildings and its contents, as well as vehicles and residents’ liability.

Leadway mitigates risks related to educational needs as well. Its Education Protection Plan covers its subscribers’ children’s education in the case of the subscribers’ death. There’s also an Education Savings Plan that helps parents save for their children’s future education, and provides a buffer against illness, permanent disability or death caused by an accident.

Other insurance plans from Leadway include the Leadway Boss, a support scheme that shields businesses against such risks as vehicle damage, employee medical expenses, legal suits prompted by an employee’s work-related loss or injury; and a travel insurance package that covers losses incurred while travelling outside of the country.

Thanks to its strong focus on connectivity enabled by digital media, Leadway’s clients can access their insurance policies through the Leadway app. They also get important information from the company via an active mobile text messaging channel.

If you would like to get in touch with Leadway Assurance, you can send an email to insure@leadway.com. You could also visit a Leadway branch closest to you.

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Ikenna Nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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