Enterprise Life Nigeria, with its distinctive “Thoroughbred Horse” imagery, made a bold entry into the Nigerian market in March of last year, and was poised to make a difference and also redefine the way insurance was packaged and provided to Nigerians. The company entered the market with a strong pedigree and substantial cross-border experience, as evidenced by its parent company’s years of outstanding service performance in the life insurance industry in Ghana.
For a company that commenced business operations at the height of COVID-19, a global pandemic that brought many already existing businesses to a halt, Enterprise Life knew that it would not be business as usual. The Nigerian business environment, along with the country’s poor acceptance of insurance, was already challenging, but the founders and management team were determined to push through, believing that survival would require a combination of competence, managerial expertise, resilience, and courage.
According to its CEO, Funmi Omo, “Enterprise Life set out from day one to not be in competition with any other player. We were very clear that we wanted to build a life insurance brand that is about people and what matters to them. Nigerians are resourceful and enterprising people, and our mission is to support them with the appropriate platforms, products, and services that enable them to face the future with confidence. ”
Since inception, Enterprise Life Nigeria has been laser-focused on increasing insurance knowledge, improving digitization to increase access, and leveraging low-cost digital distribution platforms for sales and service to deepen market penetration
Today marks the one-year anniversary of Enterprise Life Nigeria’s operations. One year may not seem like a long time, but for a company that began from the ground up in a new environment and at a particularly difficult era, reaching the one-year mark demonstrates tenacity, focus, resourcefulness, and determination.
“Looking back at the last year, one cannot help but feel a deep sense of gratitude to the Almighty for being here and still doing business. It’s been quite a journey and I’d like to say a big thank you to all our stakeholders for their confidence, trust and support in this past year”, says Funmi.
Enterprise Life is sticking to its goal of delivering life insurance with a human face. From the start, the company adopted a people-focused market penetration approach through the use of its Life Planners, a crop of professionals trained to interact with consumers, distil their needs, and offer appropriate solutions, “and it is reassuring for us that today, we are being recognized as professionals who are determined to shape the market in new and unique ways,” she added.
Enterprise Life says it is optimistic of the future and therefore reassures all its customers of the company’s continuous support and commitment to help fulfil their aspirations. “To deliver services and solutions that help them face the future with confidence, we certainly have to be with them in their journey to that future”, Funmi assures.
