Verve International -a leading payments technology and Interswitch’s card business in Africa- has signed a collaborative agreement with TVIO Solutions – A strategic marketing and sales promotion agency that developed and manages Jollofrewards.com
Jollofrewards.com is an online rewards platform that enables organizations to reward loyalty, acquire and retain customers.
It has been creatively crafted to reward the insured based on the premium paid. The platform provides various travel, leisure and lifestyle incentives that include free flights, free spa treatment, free hotel stay, free cinema tickets, free Airtime, free fuel vouchers amongst others.
Verve international noted that the rewards initiative was in line with their organizational objective of rewarding Verve cardholders.
Through this partnership, Verve cardholders will be entitled to free travel leisure and lifestyle incentives when they use their Verve card to buy or renew their insurance policies through partnering brokers.
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Speaking at the MOU signing event in Lagos, the CEO of Verve International Mr Mike Ogbalu III commended the team at TVIO for such ingenuity. In his response, the CEO of TVIO Group, Mr. Dominic Essien said that they were excited about the opportunity to partner with a successful indigenous card scheme like Verve.
Another partnering brokerage firm Messer. J. Akin George & Co. Ltd who was represented by their Chief Operating Officer, Dr Ayodeji Johnson considered the initiative a welcome one to deepen market penetration in the insurance industry.
He considered the 1.9m insurance policies in circulation out of 190m population in Nigeria as too low. “Initiatives such as this will definitely cause a push in insurance sales and deepen penetration”. Ms DolapoFadeyibi, Head of Partnerships and Alliances at TVIO Solutions expressed her excitement at the huge acceptability of the product by customers. According to her, “customers are free to choose any policy from any insurance company’s existing bouquet on offer through the Jollof platform.”
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Some of the notable brokerage firms in the consortium includes J. Akin George & Ltd, Stanbic Insurance Brokers, Epicure Insurance brokers amongst others.
Commenting on the partnership, Mr Mike Ogbalu III, Chief Executive Officer, Verve International said: “We continually seek out viable opportunities and partnerships that expand functional coverage of Verve’s physical and digital tokens, and such collaboration as this is testament to that relentless drive. It is an exciting development, not only for us as an organization but more essentially to our Verve customers, it means there are even more things they can do with their Verve cards.”
“More so, this partnership further consolidates our service footprint across the Nigerian and African financial ecosystem and guarantees that more customers would enjoy the benefits that accrue from using a Verve card.”