Firm Unveils Enhanced Third Party Motor Insurance Policy

Ebere Nwoji

Anchor Insurance Company, Limited has unveiled two significant innovations into its operations , the Enhanced Third-Party Motor Insurance Policy and the Anchor Insurance Digital Application.

The company said this was in continuation of its transformation of its operations into a more accessible, responsive, technology-driven and customer-focused insurance organisation.

Anchor Insurance Managing Director, Dr Augustine Ebose, addressing the media, during the unveiling press briefing in Lagos, said the product was born out of a simple but important observation.

According to him, Anchor Insurance observed that millions of motorists want more protection than the standard Third-Party Motor Insurance provides, yet many are unable or unwilling to commit to the higher cost of Comprehensive Motor Insurance.

“For years, motorists have faced a difficult choice. They could purchase basic Third-Party Motor Insurance to satisfy legal requirements and remain largely unprotected against damage to their own vehicles or they could purchase Comprehensive Motor Insurance at a significantly higher cost.

“At Anchor Insurance, we asked ourselves a critical question: why should motorists have to choose between affordability and meaningful protection? Our answer is the product we are launching today”, he stated.

According to the Anchor Insurance boss, the Anchor Enhanced Third-Party Motor Insurance Policy bridges the gap between traditional Third-Party Motor Insurance and Comprehensive Insurance by delivering practical protection at a price that remains within the reach for individuals, families, institutions and small businesses.