Coronation Insurance Plc and Coronation Life Insurance Limited have officially conducted the first raffle draw for the ‘Insure and Win Promo 2.0’, a nationwide initiative designed to reward policyholders for their continued partnership and trust.
The event, which was live streamed on YouTube at the firm’s head office in Lagos, marked the first major milestone for the promo since its launch in November 2025. During the hour-long broadcast, the company distributed high-value prizes ranging from power generators and refrigerators to shopping vouchers, rewarding customers who have chosen Coronation as their preferred insurance partner.
Following the success of the maiden edition, which saw over 20,000 entries, this year’s campaign aims to further deepen insurance penetration through incentivised loyalty. The ceremony was marked by a series of statements from leadership and regulators, highlighting the transparency and purpose behind the initiative.
Head, Bancassurance, Coronation Insurance Plc, Uche Okaranwolu, during the opening remarks, said, “This promo is our own way of saying thank you to our customers, who have not only chosen to protect what matters to them but have also trusted us to be their preferred partners in this mission.”
Okaranwolu stated, “What we are doing here is something you don’t see regularly in the insurance industry. Last year’s edition was extremely successful with thousands of engagements, and we are back to ensure our customers get the best standards, comparable to what you would find anywhere in the world.”
To ensure absolute integrity, winners were selected via a digital raffle platform in the presence of key regulators. These included Abosede Ogundeji from the Federal Competition and Consumer Protection Commission and Oyinkansola Kusamotu, Principal Legal Officer from the Lagos State Lotteries and Gaming Authority.
During the live draw, several lucky policyholders were contacted and announced as the first set of winners for the 2.0 season. Agbor Moses and Ojeaga Ibhade both emerged as winners of N50,000 gift vouchers, while E.A. Otuedon was awarded a microwave oven. The prizes continued with Charles Ifeoluwa Precious winning a bedside fridge and Daniel Gezah taking home the grand prize for the draw, a power generator set.
Organisers confirmed that even if winners were not reachable by phone during the live event, their prizes remain secure, as the verification process relies strictly on validated policy data.
The ‘Insure and Win 2.0’ promo is scheduled to continue over the coming months, culminating in a grand prize draw for a brand-new vehicle. Representatives from the FCCPC and LSLGA remained on-site throughout the process to certify the transparency and compliance of the selection.
In 2025/2026, the government increased its scrutiny of promotional lotteries to ensure that ‘loyal’ customers are not being exploited. Coronation’s inclusion of these officials serves as a ‘seal of approval’, assuring the public that the campaign is legally sound and the ‘Grand Prize’ (the vehicle) is guaranteed to be awarded.
Industry analysts view Coronation’s ‘Insure and Win’ initiative as a critical tool in bridging Nigeria’s low insurance penetration gap. By gamifying policy ownership and ensuring regulatory oversight from the FCCPC and LSLGA, Coronation is addressing the long-standing trust issues that have historically hindered the growth of the retail insurance market.
