One of Nigeria’s leading insurance brokerage firms, Boff and Company Insurance Brokers Limited,
recently celebrated 25 years of excellence in insurance brokerage
service delivery and the unveiling of its new brand identity, as it
hosted some of its clients and stakeholders in the insurance industry to
a glamorous event held in Lagos.
Speaking at the event, the Chairman/CEO of Boff and Company Insurance Brokers Limited, Babajide Olatunde-Agbeja
stated that the dream for which the company was established 25 years
ago was to operate a professional brokerage firm with a mission to offer
its clients unparalleled personalised services.
“We knew that an average person likes
attention and he will stay with you if he feels that you have his
interest at heart. We set out to market private companies as most
government parastatals owed premiums and were used to paying premium in
arrears,” He said.
Agbeja commended the National Insurance
Commission (NAICOM) for transforming the profession and making insurance
a more attractive and professional industry through the implementation
of ‘No Premium No Cover’ section of the insurance act which mandates
that premium must be paid before and cover is provided. He said,
“Insurance Brokers are the best kept secret in the business world. Many
companies have suffered huge losses by not insuring through brokers. A
good broker will ensure that her clients operations are adequately
covered and all claims paid timely. No good broker will relax until his
clients claims are paid to his satisfaction.”
Also speaking at the event, the special guest of honour, Dr. Oba Otudeko
commended Chief Agbeja and his team for running and sustaining a
professional company for 25 years which he described as a rare feat for
Nigerian companies. He advised other Nigerian companies to emulate the
professionalism and integrity for which Boff and Company is reputed for.
In his own remarks at the event, the Deputy Commissioner for Finance and Administration, George Onekhena, who represented the Commissioner for Insurance, Mohammed Kari
at the event stated that the ‘No Premium No Cover’ policy introduced by
the National Insurance Commission has attracted international support
for the industry.
According to him at the initial stage it
looked as if the policy was unachievable but with time operators in the
industry adapted to it and started yielding positive results. “The
policy has increased the premium incomes and profits of most companies
and thereby improved the industry at large,” he said.
Speaking on the International Financial
Reporting Standards (IFRS), he said the policy has become a success
story and most companies are now keeping to time, making sure that their
accounts are in order and meet the deadline for submission.
As part of activities at the event, the
company unveiled its new brand identity – the new logo which comes in
purple and orange, depicting two interlocking rings showing the
connection between Boff & Company Insurance Brokers Limited and its
esteemed clients. The colour purple signifies nobility & trust while
the orange colour promotes a sense of wellness and energy.
The company also used the occasion to
recognize the hard work and excellence of its long serving employees,
some of whom have invested between 10 and 20 years of dedicated service
with a special recognition award for the longest serving employee – Kola Mojeed Adegoke, a senior superintendent, having worked for the company for 23 years.
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