To compete effectively and provide leadership in key measurement indices, Mutual Benefits Assurance Plc has set for itself a 5-years strategic growth plan.
The Company’s board and management said it has set the wheels in motion for repositioning the firm as part of its goal to lead the industry in growth, profitability, innovation, operational efficiencies, and dividend returns with the implementation of the strategic roadmap.
Akin Ogunbiyi, chairman, Mutual Benefits Assurance Plc speaking at the Company’s Annual General Meeting in Ibadan, Oyo State said to achieve the project which has started since first quarter of 2017, it has set for its self focus areas.
The key priorities Ogunbiyi listed includes deepen market penetration/customer acquisition by aggressively growing our customer base across all segments; embed customer and service delivery excellence by establishing our company as the most customer focused in the industry; transform people and culture by creating the right environment to attract, develop and retain knowledgeable and motivated staff; and also to drive operational effectiveness by leveraging on disruptive technology and embedding analytics.”
He said these strategic initiatives require huge capital outlay which will be sourced from the internally generated funds as well as from additional equity capital which will be raised very soon.
Ogunbiyi giving assurance to the shareholders on the focus of the Company said “With our refreshed strategy, we have set our roadmap for the future. Our goal is customer focused, improved operational effectiveness, people and culture transformation and market penetration. I encourage you to join us on this mutually benefitting journey of Transformation and Success, because we see the end from the beginning.”
Mutual Benefits Assurance Plc. (MUTUAL), has evolved into a conglomerate consisting of value-adding companies with diverse interests in various sectors of the Nigerian economy through investments, strategic alliances and partnerships. Today, MUTUAL is a leading brand in the Nigerian Insurance Industry with over 5000 staff and agents in its employment.
MUTUAL is the flagship of insurance in Liberia and also runs a full- fledged insurance operation in Republic of Niger, where it commenced business in January 2014.