Digital insurance companies, Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) have extended simple and unique insurance plans that protect lives, investments, and secure finances to the beneficiaries of the Tony Elumelu Foundation (TEF).
Targeted at minimising business risks, the bundled insurance package comprises elements to protect business owners against the loss of property and lives, providing financial security in times of uncertainties. This timely insurance intervention addresses the fear of loss caused by a post-Covid19 economy while further demonstrating the mission of the Foundation to empower African entrepreneurs and catalyse the continent’s economic development.
Speaking about the importance of the partnership, the Director, Partnership and Communications, TEF, Somachi Chris-Asoluka, stressed that events of the past year has triggered the need to educate entrepreneurs on the importance of risk alleviation to ensure the survival.
“Our core mandate is to empower African entrepreneurs across all 54 African countries with training, funding, mentorship and other valuable resources that will enable them successfully operate their businesses in order to create socio-economic hope for the continent. We have funded nearly 16,000 entrepreneurs and trained hundreds of thousands of young entrepreneurs across the continent. As economies look to recover from the effects of the pandemic, there is no better time to launch this intervention with Heirs Insurance and Heirs Life, that is focused on small business owners from the TEF Alumni network. With these unique product offerings, entrepreneurs in Nigeria can further mitigate the impact of external factors on their operations, protect their investments and secure their finances. At the Tony Elumelu Foundation, we believe that entrepreneurs are the engines of economic growth and prioritizing their welfare and businesses will drive significant growth and employment opportunities.
Corroborating Somachi, the Chief Marketing Officer, Heirs Insurance and Heirs Life, Ifesinachi Okpagu, described the partnership as timely and of immense value to all the entrepreneurs. According to her, both companies place entrepreneurs on a pedestal because of the critical role they play in the development of the country’s economy.
She said, “At Heirs Insurance and Heirs Life, we are committed to entrepreneurs because we believe their work is the foundation of our economy. The lockdown and the ensuing challenges have dealt a blow to this critical aspect of our development as a nation. Our responsibility as insurers is to help alleviate these risks to ensure that our entrepreneurs focus on the business of creating employment and contributing to the country’s economic growth. We are delighted to be partnering with the Tony Elumelu Foundation to demonstrate this and we look forward to the impact this will have on TEF entrepreneurs and their businesses.