Happiness ESSIEN, Uyo.
New Dawn Microinsurance Limited has officially commenced operations in Akwa Ibom State, with a commitment to providing innovative and affordable insurance products designed specifically for low-income earners.
The company which has its headquarters at 2 Udo Udoma Avenue, opposite the AKBC headquarters in Uyo, the State capital, aims to provide a financial safety net for individuals and small businesses and help them recover from unforeseen financial losses.
In a press briefing held yesterday in Uyo, the Managing Director/CEO, Mr. Inemesit Ekanem, announced five key products designed to cater to different segments of the population. They are: the New Dawn Property and Shop Protection Plan, New Dawn Wheelers Policy, New Dawn Credit Life Policy, New Dawn Group and Personal Accident Plan, and the New Dawn Target Savings Plan.
The New Dawn Boss who was flanked by the management staff including Mr. Henry Sunday Akpan – Head, Finance and Administration; Ime Sunday Iteh-Head, IT Deborah Ubongabasi Ukana-Head, Legal and Compliance, Angela Oghenekevwe Omoyowirin- Head, Technical; Nameti Aniefiok Ndem-Head, Business Development; Nkamado Edet Udo- Head, Audit and Internal Control, divulged that these products were strategically created to address the needs of the underprivileged and offer a variety of coverage options ranging from property loss to accident compensation.
Ekanem hinted that the primary goal of the company is to ensure that even those with limited means can access insurance and safeguard their livelihoods.
His words: “Our products are easy to access, affordable, and provide the maximum value possible, ensuring that low-income earners can continue to thrive despite challenges such as accidents, death, or theft.”
He mentioned that, one of their flagship products, ‘the New Dawn Property and Shop Protection Plan’, offers coverage against fire, lightning, and theft with a liability limit of up to two million naira. This policy, according to the MD, is designed to protect small business owners and property owners against significant financial losses.
Another product, the New Dawn Wheelers Policy covers losses or damages to motorcycles and tricycles (keke), as well as compensation for bodily injuries or deaths resulting from road traffic accidents.
Ekanem emphasized that this policy will offer relief to riders and small-scale transport operators who form a significant part of the local economy.
For those accessing microloans, The New Dawn Boss boss said their company’s ‘Credit Life Policy’ ensures that financial institutions can recover outstanding loan amounts in cases where the borrower suffers from death, permanent disability, or destruction of trade stock by fire.
He hinted that, the New Dawn Group and Personal Accident Plan, another lofty product of the company caters to various groups like artisans, traders, and farmers, offering coverage for bodily injuries or death due to accidents, and also covering medical expenses incurred from such incidents.
Ekanem also explained that ‘the New Dawn Target Savings Plan’ of the Company provides a flexible savings scheme that allows customers to save for periods ranging from six months to over two years, with attractive interest rates of up to 10% for contributions lasting over a year.
He noted that the company is leveraging advanced technology to enhance its service delivery, ensuring that enrolment, claims processing, and customer service are seamless and accessible.
Meanwhile other management staff members who gave useful information about the company stated that, their entry into the Akwa Ibom insurance market, marks a significant step toward providing affordable financial protection to low-income groups, fostering resilience, and improving their economic stability.
