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Home BUSINESS Coscharis Motors Partners AIICO and Tangerine on Quality Auto Insurance

Coscharis Motors Partners AIICO and Tangerine on Quality Auto Insurance


Coscharis Motors, one of the Nigeria’s leading automobile companies, has partnered two reputable insurance companies, AIICO Insurance Plc and Tangerine towards providing cost effective auto insurance premiums for its customers.

This was announced on Wednesday during an agreement-signing event held at the company’s Head Office, Lekki-Epe Expressway, Awoyaya, Lagos.

In his address at the event, Abiona Babarinde, General Manager, Corporate and Marketing Communications, Coscharis Group, described the development as a value-based collaboration rooted from a quest to continuously offer the best value to customers.

“The partnership,” he explained, “is primarily aimed at providing existing and prospective customers of Coscharis; AIICO and Tangerine opportunities to enjoy multiple values added automobile after-sales services backed with risk protection from the underwriting companies.

‘’With this integrated insurance package, we can guarantee our customers immediate insurance coverage at the time of vehicle purchase from all Coscharis showrooms, as well as a quick and stress-free claims process, should the needs arise from either Tangerine or AIICO insurance respectively.

According to Babarinde, given the tested and trusted pedigree of the three brands in their respective industries, the collaboration will become a game changer in the value chain of vehicle purchase with a compelling rate for insurance cover in Nigeria.

“With the Coscharis robust portfolio of iconic auto brands and reputable insurance brands of AIICO and Tangerine, we promise nothing but customer experience that will deliver value for money in all ramifications,” he assured, adding, “going by the experience, expertise and capacity for underwriting this kind of business, both AIICO and Tangerine stand to compliment Coscharis Motors that has been a leading automobile dealership representing globally respected brands for decades in Nigeria.’’

Also speaking, the Head, Partnership and Alliance, AIICO Insurance Plc, Piyush Srivastava, recalled that the partnership took a long time to conceive, think through what offers would be attractive to customers.

According to him, AIICO would only work with reputable organizations with customer focus.

“And when we did our research,” he said, “we found Coscharis, a company with good reputation and premium brands that practise customers satisfaction, which align to AIICO vision.

‘’Basically, anywhere insurance has to be bought when customers purchase a car, the problem is that sometimes roadside mechanics give wrong claims and spare parts. Insurance companies can decline, because we don’t know if the parts are genuine or not. But at this partnership level, we know nobody will play a trick. It will be much easier to clear the claim than road side dealers. For us, this partnership is going be very meaningful from customers perspective, because there will be no fraud. Customers should be able to get their claim with ease.’’

On her part, the Group Executive Director, Commercial, Tangerine, Yewande Adewusi said his company decided to partner with Coscharis, because it is a trusted brand in the automobile space.

Adewusi described the partnership as a marriage that makes sense, being an amalgamation of trusted automobile provider and trusted insurance providers

‘’The partnership is a comprehensive insurance rate,” she pointed out, adding, “We are given insurance of 1.75 % in this partnership with tangerine. That is what customers stand to benefit. If you buy your car from Coscharis and get your insurance at the same time, you are getting a preferential rate than you get normally. As you buy the car and get your insurance, you get that benefit.’’

L-R -Head, Partnership & Alliance, AIICO Insurance Plc, Piyush Srivastava, General Manager, Marketing Communications, Abiona Babarinde, Group Executive Director, Commercial, Tangerine, Yewande Adewusi during the official Announcement of Partnership between Coscharis Motors, AIICO Insurance Plc and Tangerine.

For over two decades, Coscharis Motors Plc has been  one of the leading indigenous players in the automotive industry with a strong representation for globally respected iconic brands like Renault, Ford, Ford Truck, BMW, Jaguar LandRover and Rolls-Royce amongst others for both Sales and Aftersales in the auto sales division.

A household name in the insurance industry, AIICO Insurance Plc on the other hand, has been in the underwriting business for nearly six decades and currently ranks highest by gross written premium in the industry for two consecutive years (2020 and 2021). It provides life and health insurance, general insurance and investment management services to create and protect wealth for individuals, families and corporate customers.

While Tangerine is a leading technology and financial services platform in Africa that consistently goes the extra mile to improve the financial security of consumers. By merging deep consumer insights and cutting-edge technology, they have built a range of carefully tailored products, which improve the quality of life.

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