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Introducing Max: Custodian Investment Plc launches Nigeria’s first ever insurance chatbot

Custodian Investment Plc – leading insurance company in Nigeria – has launched Nigeria’s first ever Artificial Intelligence



Introducing Max: Custodian Investment Plc launches Nigeria’s first ever insurance chatbot

Custodian Investment Plc – leading insurance company in Nigeria – has launched Nigeria’s first ever Artificial Intelligence (AI) Chatbot in the insurance sector, leveraging technology to deploy enhanced personalized services to its customers.

This Chatbot named Max will interact with customers in a human-style chat mode and is happy to help customers with:

  • Getting a quote/purchasing majority of Custodian products and services
  • Responding to enquiries about Custodian products and services
  • Making claims and checking claim status.

Max is available to interact with customers 24/7 via three platforms; Facebook messenger, Telegram and Web messenger.

On Facebook, customers can connect with Max in four easy steps:

  1. Log on to Facebook
  2. Type-search @custodianmax
  3. Click get started
  4. Say hello to Max

On Telegram, simply search for ‘Custodian Max’, to chat with Max.

GTBank 728 x 90 is the link to follow, to connect via web messenger.

Max was officially launched on Thursday 21st June, 2018. In the words of Mr. Oladele Akinsanya, Head of Service Delivery, Custodian Investment PLC, “Customer service is at the heart of what we do at Custodian. This is why we are happy to introduce Max to Nigerians. Max is a tool that enables the customer to drive insurance, based on convenience. Customers can interact with Max in their own way and at their own pace.”

“Max is just like a relationship officer that is readily available at your beck and call; anytime of the day and from any country in the world! With Max, you can get your vehicles insured in Lagos while you’re on holiday in Hawaii”.

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L-R: Esomchi Nwofor, Chief Technology Officer, Custodian Investment Plc; Olubunmi Aderemi, CEO, Custodian Social Responsibility Foundation; Ngozi Nlebemuo, Executive Director, Operations, Custodian Life Assurance Limited; Bisola Ajibola, Head of Strategy, Custodian and Allied Insurance Limited, and Oladele Akinsanya, Head, Retail Division, Custodian and Allied Insurance Limited, during the launch of Max, Nigeria’s first digital advisor for the non-banking financial sector in Lagos, on Thursday.

Responding to a question from the audience on the safety of interacting with Max, the Chief Technology Officer of Custodian Investment PLC, Mr. Esomchi Nwofor commented, “All information provided via the chat-platforms with Max are confidential. In the case of reporting a claim, due diligence will be performed before payment is made. Max makes your insurance-life easier. However, Custodian will perform necessary checks to ensure fraudulent activities are eliminated”.

With Max, customers of Custodian now have access to insurance, right at their fingertips! No need to make long trips to the office branches; everything you need is one chat way.

Chat with Max now.

About Custodian Investment PLC

Custodian Investment PLC (CI Plc) is a holding company with leading specialist companies and brands including Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees Limited and Crusader Sterling Pensions Limited; all rendering best in class services in its versatile fold.

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Contact Information

Custodian Investment PLC, 16A Commercial Avenue Sabo, Yaba, Lagos, Nigeria.
[email protected]

Stanbic IBTC

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Abbey Mortgage Bank Plc projects N60.13 million profit in Q1 2021

Abbey Mortgage Bank Plc has projected a Profit after Tax (PAT) of N60.13million in its 2021 Q1.



Abbey Mortgage Bank announce the appointment of substantive Managing Director, and 5 Directors.

Abbey Mortgage Bank Plc has projected a Profit after Tax (PAT) of N60.13million in its 2021 Q1.

According to the earnings forecast issued by the bank and seen by Nairametrics, it projected the 134.7% Q-o-Q rise from a loss of N173.49 million recorded in its most audited financial statement for Q3, 2020.

key highlights of its earnings forecast for Q1 2021 when compared with Q3 2020 figures include;

  • Pre-tax profit increased to N88.4 million, +151.5% Q-o-Q.
  • Interest income increased to approximately N515.9 million, +55.45% Q-o-Q.
  • Net operating income increased to N421.94 million, +79.9% Q-o-Q.
  • Interest expense increased to N208.06 million, +63.95% Q-o-Q.
  • Operating expenses declined to N333.52 million, -17.9% Q-o-Q.
  • Credit loss expense increased to N19.83 million, +100% Q-o-Q
  • Gross earnings of N649.83 million
  • Taxation of N28.3 million
  • Other income of N133.84 million.

Bottom line

Despite recording not too impressive results in its last financial statements, the firm is, however, optimistic going for Q1 2021 as reflected in its forecast.

This optimism might be premised on the news of a positive general economy by Q1 2021, which will trickle down to various sub-sectors of the economy.

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ABC Transport to raise N1.4 billion through rights issue

ABC Transport Plc has secured the approval of its shareholders to raise additional capital through a rights issue.



The Board of Directors of ABC Transport Plc has secured the approval of its shareholders to raise additional capital through a rights issue from existing shareholders.

This disclosure was made by the board of ABC Transport in a notification issued by the Company’s Secretary, Onyekachukwu C. Chigbo, after announcing shareholders’ resolutions at its 27th Annual General Meeting (AGM), held on Friday 27th November 2020.

READ: Prestige Assurance could be a good opportunity if it gets its recapitalization right

According to the information contained in the notification, the rights issue is N1.4billion, which could be raised via the issuance of shares and debt securities as determined by the Directors of the firm.

However, the rights issue is subject to the approval of regulatory authorities.

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READ: Another Fidelity Bank Non-Executive Director purchases 1 million shares worth N2.75million

What this means

A rights issue is an invitation to existing shareholders to purchase additional new shares in the company. This type of issue gives existing shareholders the “rights” to purchase new shares at a discount to the market price on a stated future date.

However, shareholders are not obligated to exercise this right.

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In this regard, the company may decide to use the additional capital raised from these offerings to existing shareholders to acquire assets, make a take-over, repay debts or save itself from bankruptcy.

This is expected to strengthen the company’s balance sheet, free up capital for the management to execute revenue, and profit optimizing projects, plans, and strategies.

READ: International Breweries Plc raises N165 billion, Rights Issue fully subscribed

What you should know

  • It is important to know that the board decided to raise additional capital after it had secured shareholders’ approval to increase the company’s authorized share capital from N1billion to N2.5billion by the creation of 3billion additional shares of 50 kobo each, ranking pari-passu in all respects with the existing shares in the Company’s equity.
  • In this regard, clause 6 of the Company’s Memorandum of Association and clause 5 of the Articles of Association respectively, will be amended to reflect the increase in the Authorized Share Capital.
  • This amendment will be done by deleting the words, “the authorized Share Capital of the Company is N1billion divided into 2billion ordinary shares of 50 kobo each,” and substituting therewith the words “the authorized Share Capital of the Company is N2.5billion divided into 5billion ordinary shares of 50 kobo each.”

READ: Federal High Court directs meeting to consider the transfer of GTBank into a Holding Company

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Dangote Cement market capitalization increased by 28% to cross N3 trillion mark in November

Dangote Cement Plc increased market capitalization by 28% to N3.49 trillion at the close of trade on the 30th of November.



Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director

The market capitalization of Dangote Cement Plc increased from N2.73 trillion at the open of trade on the 2nd of November 2020, to N3.49 trillion at the close of trade on the 30th of November.

Further checks revealed that the market capitalization of Dangote Cement Plc increased by 28.13% during the period under review.

The drive behind the gains

It is important to note that the increase in Dangote Cement’s market capitalization was driven by the renewed buying interests by investors in key Nigerian stocks with huge values and impressive fundamentals.

This hunt for value on the bourse led to a wild increase in the share price and also the market capitalization of key companies on the Nigerian Stock Exchange in the month of November.

(READ MORE: Dangote Cement gains ₦273 billion on NSE since release of its 2020 Q3 report)

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However, the renewed buying interest can be attributed to the strong performance which Dangote Cement displayed in the third quarter of 2020, despite the challenging macroeconomic environment.

Given the strategic positioning of the cement producer in the industry,

  • Dangote cement reached a record high EBITDA margin of 24% in the third quarter of 2020.
  • Group net profit of N82 billion, which is 135.1% higher than the profit reported by the Group in the third quarter of 2019.

This strong performance made analyst review their models, and also the Group’s valuation, this however triggered buying pressures in the shares of Dangote Cement, with its market capitalization increasing by 28.13% in the period under consideration.

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What you should know

  • Market capitalization is the aggregate valuation of a company based on its current share price and the total number of outstanding stocks.
  • Market capitalization tells how much investors value a company, and gives an idea of what a company is worth on the stock exchange, as well as investors’ perception of a company’s future prospects.

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