Insurfeel and Universal Insurance Donate N51.8m Free Insurance Cover to LASU Faculty of Management Sciences Students' Executives
Insurfeel and Universal Insurance have jointly contributed N51.8 million to provide free insurance coverage for executive members of Lagos State University's (LASU) Faculty of Management Sciences.
Chris Oyeoku Okafor 
Insurfeel, in collaboration with Universal Insurance Plc, has extended a philanthropic gesture by donating a total of N51.8 million worth of free insurance plan cover to executive members of the Faculty of Management Sciences at the Lagos State University (LASU). The donation ceremony, held on March 25, 2024, saw the President, General Secretary, and Public Relations Officers of all eight departments within the faculty benefiting from this initiative.
Mr. Chuks Okonta, the brain behind Insurfeel initiative, elucidated that the aim of the free insurance plan initiative is to prioritize individuals' safety and employ insurance as a tool for poverty prevention. He stressed that such initiatives aim to bridge the gap in insurance accessibility and bolster insurance penetration rates across the populace.
Mr. Okonta further outlined the strategic approach of the initiative, which involves collaborating with various organizations, groups, and associations to extend free insurance policies to the uninsured population.
Additionally, Mr. Okonta announced that apart from the students' executives, both the outgoing Dean, Prof. Raheem Akewushola, and the newly elected Dean, Prof. Rafiu Bankole, will also benefit from the insurance cover.
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Mr. Tony Okafor, representing the underwriting team, provided detailed insights into the insurance cover. He elucidated that the policies would provide coverage for the executive members of different departments within the faculty for a year, corresponding with their tenure. The coverage encompasses medical expenses, permanent disability benefits, and death benefits for both the students and their parents, with each beneficiary entitled to a total coverage amount of N2.55 million.
Expressing gratitude, Prof. Raheem Akewushola, the outgoing Dean, lauded Insurfeel and Universal Insurance Plc for their benevolent act, foreseeing a positive impact on the lives of the beneficiaries.
Likewise, Prof. Rafiu Bankole, the newly elected Dean, expressed appreciation for the generous gesture extended by Insurfeel initiative and Universal Insurance Plc. He expressed optimism that such opportunities would further arise for other members of the faculty, fostering a culture of support and collaboration.
The event was graced by prominent figures in the insurance industry, including Mr. Edwin Igbiti, President of the Chartered Institute of Insurance in Nigeria, alongside Mr. Saka Kaleed and Mr. Tony Okafor. Heads of Departments within the Faculty of Management Sciences, members of the Department of Insurance, and the beneficiaries themselves were in attendance.
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The ceremony concluded with a vote of thanks delivered by Prof. A. K. Onafalujo, underscoring the significance of collaboration and corporate social responsibility in enhancing societal welfare.
