Coscharis Motors on Wednesday in Lagos signed a Memorandum of Understanding (MoU) with AIICO Insurance Plc. and Tangerine Life to incorporate insurance into its automobile sales.
Mr Abiona Babarinde, General Manager, Marketing and Corporate Communications, Coscharis Group, said the partnership was conceived to promote cost-effective premium insurance for brand new vehicles purchased from the automobile company.
Babarinde said the partnership would give its customers the opportunity to insure their vehicles at a premium rate of 1.7 per cent.
“As a result, existing and prospective customers of Coscharis will continue to enjoy premium automobile after-sales service.
“This will be backed with risk protection from any of the underwriting companies, guaranteeing peace of mind at a minimal cost from the moment they purchase any vehicle of their choice,” he said.
He added that with the integrated insurance package, the company could guarantee its customers immediate insurance coverage at the time of purchase its vehicles.
He said the customers could also process quick and stress-free claims should the need arise from either AIICO or Tangerine insurance respectively.
“These three great brands have entered into this value-based collaboration in our quest to continuously offer the best value to our wide range of customers,” said Babarinde.
According to him, with the tested and trusted pedigree of the three brands in their respective industries, the partnership will deliver value for money with the premium comprehensive insurance cover for vehicle purchase in Nigeria.
The general manager explained that the capacity and experience of both AIICO and Tangerine would compliment Coscharis Motors that had been a leading automobile dealer representing globally respected brands over decades in Nigeria.
Babarinde said: “From this partnership, customers and prospects of Coscharis, Tangerine and AIICO brands stand to gain significantly with well thought out procedures to speed up the claims process.
“They will also enjoy a seamless customer experience, which includes priority attention for necessary repairs or replacements.”
According to Babarinde, the collaboration will be a game changer in the value chain of vehicle purchase with a compelling rate for insurance cover in Nigeria.
In his address, Mr Piyush Srivastava, Head, Partnership And Alliance, AIICO, expresed excitement about the partnership with Cosharis Motors, which offered best-in-class passenger and luxury vehicles in Nigeria.
Srivastava noted that the partnership aimed at delivering more value to customers of Cosharis Motors by improving their overall ownership experience.
“In addition, the decision to partner with an organisation that shares a similar passion for delivering on promises to customers was a crucial part of the partnership decision.
“Coscharis Motors’ customers will enjoy the same ‘no-stories,’ excellent after-sales service with an insurance cover that meets their needs without drama regarding claims.
“This seamless experience in car ownership makes this partnership truly exciting for prospective car owners to choose one of the mobility solutions from Coscharis Motors,” he said.
According to him, AIICO, as a recognised insurance company, with expertise in underwriting has given its retail and corporate customers extraordinary confidence in its ability to meet its obligations.
The AIICO official said the company’s ever-growing list of customers and clients attested to its dedication to the fulfilment of promises and consistency in delivering value.
Mrs Luciana Ojeniyi, Head, Partnership, Wealth Management, Tangerine, said the firm was excited to be part of the initiative and was looking forward to improving the experience of its customers.