Connect with us

Uncategorized

Oceanic Insurance Unveils New Products to Address Specific Needs

Published

on

Kindly share this post

Nigeria’s leading insurance company Oceanic Insurance in a bid to maximize the wealth of its clients has introduced four new products for its existing and prospective life and general business clients.
They include: Oceanic Event Secure, Oceanic Home Secure, Oceanic Life Baby Plan and Ocean Care Scheme. Duly approved by the National Insurance Commission (NAICOM), the products are the result of extensive market research efforts and have the endorsement of leading experts and stakeholders in the insurance sector.
According to Prince Lafor Olateru-Olagbegi, Managing Director, Oceanic Insurance Group, the products are indicative of the firm’s commitment to make insurance products connect with the specific needs of the public. “Insurance should be a way of life and that is what Oceanic Insurance Group wants to achieve through well researched products and services that are designed to empower individuals and corporate organisations to pursue their goals and aspirations with our solid backing,” he said.
“Oceanic Event Secure” will provide cover against tragedies which can potentially impede the smooth management of an upcoming event. The advantages of the policy cover include short term liability coverage for profit or nonprofit special event group. Oceanic Event Secure indemnifies the insured parties/events for costs and expenses incurred to organize and produce an entertainment event should the event be cancelled, abandoned, postponed, interrupted or relocated due to a cause beyond the control of the insured. Eligible events are arts and crafts festivals, beauty pageants/fashion shows, dances, exhibitions, and school carnivals /inter house sports, wedding ceremonies and receptions, seminars, picnics and religious activities.
“Oceanic Home Secure” is designed to offer umbrella coverage in one policy for a Home Owner at a very reasonable premium. The policy will provide a cover for the building, household goods, personal effects and personal liability. The policy has also been extended to the insured in case of death or personal injury sustained as a result of an armed robbery attack on the premises.
Speaking on the life insurance products, Oceanic Life Baby Plan and Oceanic Care Scheme, Ekpe Ukpabio, Chief Executive Officer, Oceanic Life Assurance, said they were designed to enable clients plan effectively and meet expenses arising from unexpected events.
The “Oceanic Life Baby Plan” is a product with a minimum policy term of five years. Parents and Guardians can choose a sum assured between N100,000 and N1,000,000.The policy term coincides with the child’s 18th birthday. The child qualifies after 48hours of birth. The features include a minimum of N5, 000 monthly, a guaranteed minimum interest rate; benefit is transferable to another child, premium payment stops on the death of the parent. The option of cash withdrawal may be enjoyed if the policy has been in force for a period of two years. The amount of cash withdrawal to meet child’s urgent need cannot exceed twenty five per cent of the investment account balance.
Similarly, “Ocean Care Scheme” has been introduced to help dependants meet their burden in the course of funeral rites/final expenses for the death of a loved one. The plan has the flexibility of helping the organization and the member’s dependants at a reasonable cost. Policy proceeds will help family member’s cover the cost of funeral expenses. The proceeds may also help finance ongoing projects in memory of a deceased member. Contribution or premiums payable is by the organization but could be shared by the members.
This policy provides the following services embalming, recovery of the body to a morgue within the state for not more than twenty one days. The scheme provides the payment of the sum assured upon the death of a member of a group, which could be cultural, religious, professional or a market association. It could also be a sub group of a major group such as the year set of a general association of alumni. The policy has a minimum contribution of N1, 000 per month per member.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Comments

Uncategorized

NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

Published

on

Kindly share this post

Nigerian Communication Commission (NCC) has warned telecom consumers to desist from using illegal GSM boosters.

NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

The commission also said that anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

GSM boosters are devices that transmit and receive telecommunications signals and can therefore interfere with other radio frequency equipment.

Ikechukwu Adinde, director, public affairs, NCC, said in a notice published on NCC website, that only licensed network operators are allowed to use GSM boosters.

The booster, also known as amplifier or repeater is made up of three main elements – exterior antenna, amplifier, and interior antenna.

They form a wireless system to boost cellular reception

“Members of the public should note that, willful interference with any wireless telegraphy is an offence under Section 16 of the Telegraphy Act, 2004,”it said

The agency said it will not condone any flagrant breach of this law.

It has also enforced measures to prosecute offenders.

Accordingly, monitoring mechanisms have been put in place and anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

“Any member of the public with useful information regarding the illegal use of GSM Boosters should contact the Commission on 09-4617000/7351 or send an email to [email protected],” the notice said.

“Individuals desirous of using GSM Boosters should note that they can only do so in conjunction with licensed network operators,” it added.

 

 


Kindly share this post
Continue Reading

Uncategorized

Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

Published

on

Kindly share this post

Tizeti announced that it selected Nokia’s Fastmile Long Term Evolution (LTE) technology to enable usprovide superior internet services to over 1 Million subscribers in Port Harcourt, Edo and Ogun in Nigeria.

Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

Tizeti will deploy Nokia’s AirScale Base Station TDD-LTE and FastmileFixed Wireless Access (FWA) gatewaysto deliver premium internet and Virtual Private Network (VPN) services to Residential, Small and Medium Enterprises (SMEs).

The solution will also enable Tizeti’sto deliver a more robust, high-speedinternet service to subscribers and the flexibility to seamlessly evolve to 5G Fixed Wireless Access when needed.

Nokia’s FWA solution enables Tizeti to fast-track broadband access and provide a best-in-class broadband experience to its subscribers.

Nokia’sAirScale Base Stations ensure high-quality connectivity and coverage and enablesTizeti to evolve the network in line with customer demand.

Nokia’sFastmilegateways connect wirelessly to the existing network to createa fastbroadband connection and enhanced Wi-Fi experience in the home.

The Nokia Network Services Platform will help Tizeti to simplify operations and quickly respond to changing market demands.

Kendall Ananyi, Tizeti, said:“We are committed to providing the best-in-class network experience to our subscribers. We are confident that Nokia’s proven technology and expertise will help us differentiate our services based on quality. This a crucial project for us as it introduces LTE in our networks and allows us to bring new and innovative services to our subscribers.”

Eniola Balogun, Nokia, said:“We are thrilled to work with Tizeti on the initiative to upgrade their network to bring the latest products and services to its subscribers. Nokia Fastmile will help Tizeti to cost-effectively enhance the customer experience.

The project will also enable them to delight their subscribers by providing more reliable data services.

On the other hand, Tizeti will benefit by adding new revenue streams.”

 

 


Kindly share this post
Continue Reading

Telecom

Risk Assets Push Higher on Vaccine Hopes; Eyes on the Fed

Published

on

Kindly share this post

By Hussein Sayed, Chief Market Strategist at FXTM,

After two consecutive weeks of back-to-back declines, global stocks kicked off Monday with solid gains amid a surge in M&A activity and positive signs towards vaccine developments. Currency markets were little changed ahead of a busy week of monetary policy announcements, while Oil and Gold ticked slightly higher.

The two big deals announced over the weekend were Softbank’s plan to sell chipmaker ARM to Nvidia for more than $40 billion and Gilead Sciences to acquire Immunomedics for a price tag of $21 billion. Meanwhile, on the vaccine front, AstraZeneca resumed its phase-3 trial on Covid-19 after being suspended last week following a neurological illness developed in one participant, and Pfizer announced that its vaccine could be distributed before year-end if found safe and effective.

 

Central Banks will take centre stage this week with the Federal Reserve, Bank of England and Bank of Japan all due to announce policy decisions. Out of the three meetings, the Fed is likely to be the most watched following its historic shift towards average inflation targeting. The big question remains how will the FOMC put this policy into action?

 

From what we know now, the Fed is set up to keep interest rates near zero for a long time, possibly for several years. Given the new framework, any spike in inflation won’t translate into immediate rate hikes as the Fed wants to compensate for the lost years when they have failed to hit the target. The dot plot will be the key guide for investors and traders alike. If inflation projections remain at 2% or below for the foreseeable future, this will solidify market expectations for a low rate environment for many years to come. That said, Jay Powell would still have to explain in more detail how the new framework will be translated into policy action.

 

In June’s economic projections, the Fed anticipated unemployment would be at 9.3% by year-end, but, in August, unemployment was well below that forecast at 8.4%. Many other economic data surprised to the upside during the June – August period in a clear sign that most economists were overly pessimistic towards the strength of the recovery. However, there is still a considerable amount of uncertainty given the latest surge in Covid-19 cases worldwide and the US, especially as we get closer into the winter season. A second wave will undoubtedly put the recovery at risk in the final quarter of the year and it will be interesting to see the Fed’s view on that issue.

 

As for the market selloff over the past two weeks, the Fed isn’t likely to show any signs of concern. In fact, policymakers should be satisfied with the pullback as the risk of a bubble in several assets has been growing due to the Fed’s extremely accommodative policies. Unless we see another 10 -15% drop, do not expect the Fed to intervene.


Kindly share this post
Continue Reading

Trending