The management of Sovereign Trust Insurance Plc (STI) has said that the company was committed to evolving innovative products and services that would improve the life of customers even as it has created an enhanced Third Party Motor insurance policy for the insuring public.

The company has also reiterated its commitment in achieving its mission of enhancing the everyday life of insurance customers, creating exceptional value for shareholders.

The Managing Director/Chief Executive Officer of the Company, Olaotan Soyinka, stated this in an interactive session with the media in Lagos.

He said his company was committed to innovative products and services that would improve the life of customers even as it has created an enhanced Third Party Motor insurance policy for the insuring public.

Olaotan who was represented by Deputy General Manager, Sales & Corporate Communications, Mr. Segun Bankole said “Our mission is to enhance the everyday life of our customers through innovative insurance and financial services while creating exceptional value for our shareholders.

On the enhanced Third Party Motor Insurance, Soyinka said, “In terms of innovation, we have the product called the Enhanced Third Party Motor Insurance. We taught of the usual third party whereby when a claim occurs; it is only the third party that gets the benefit of having his or her vehicle repaired. But with our enhanced third party, which is just N7, 500 per annum, you have the third party being insured in case of any damage to the tune of N1 million and the insured himself or herself has that limit of liability up to the tune of N500.000.”