22 Jan Interview with Clemenceau Blayon Urey Sr., CEO of Atlantic Life and General Insurance Company, Liberia
What inspired you to establish Atlantic Life Insurance Company, and how has the company evolved to meet the changing needs of Liberians?
I hold a master’s in public administration and initially worked as a civil servant. I later earned an MBA in finance in the U.S. and entered the insurance industry, serving as Controller at American Life Insurance Company in Delaware and later as Country Manager for Cigna Worldwide Insurance Company. When the 1990 war halted operations in Liberia, I received some of the assets and decided to establish my own company to continue providing insurance services.
Since then, I have managed the company successfully, though political changes have sometimes affected operations. We are now reorganizing and rebranding, preparing to gradually hand leadership to the younger generation. Liberia’s business environment is improving under President Boakai. I believe Liberia is a “sleeping giant” – those who start preparing now will benefit most when the country fully awakens. That is exactly what we are doing.
With life insurance underpenetrated in Liberia and across much of Africa, how is Atlantic Life raising awareness and expanding access?
Life insurance faces cultural and practical challenges. Many people don’t believe in insuring their lives, and affordability is an issue, as most prioritize immediate needs like food, school fees, and daily expenses. Premium collection is difficult – payroll deductions sometimes fail, cash collection carries risks, and employment instability can lead to lost coverage. To grow the market, we focus on small, flexible policies starting at $1,000–$3,000, which clients can upgrade or downgrade as circumstances change.
Asset insurance is also a challenge. Commercial properties are usually insured, often for bank loans, but private homeowners rarely insure their homes. We actively encourage individuals to protect personal assets, though most prefer group coverage. Banks drive demand for life insurance by requiring coverage for loan applicants, which we provide through partnerships, ensuring clients are protected while meeting bank requirements.
What steps does Atlantic Life take to ensure transparency, timely claims settlement and customer confidence in Liberia’s market?
Transparency works both ways – between the client and the insurance company. We train our staff to clearly explain policies and provide responsive customer service. At the same time, clients need to be honest about their risks, since proper disclosure ensures fair coverage and prevents losses. The industry must also work closely with regulators, the central bank, and the insurance association to uphold these standards.
How is Atlantic Life tailoring its products to meet the needs of emerging customer segments and to promote long-term financial planning?
Products should be based on researched client needs. First, we assess priorities, then tailor solutions accordingly. Policies should be flexible, allowing upgrades or downgrades as circumstances change. For example, education-focused clients may benefit from endowment plans. The key is designing products that respond directly to real client needs.
How is Atlantic Life using technology to modernize its services and enhance the customer experience in Liberia?
We use cell phones, the internet, and websites to reach clients quickly. Modern software and financial systems enable rapid responses to client needs. Leveraging these tools is essential for fast and effective service.
How does Atlantic Life engage in social initiatives, and what role do you see insurance companies playing in inclusive development?
Education is a key focus for me, as it drives social mobility. I also support charitable work through the Lion’s Club, helping the poor and visually impaired.
What is your long-term vision for Atlantic Life Insurance Company, and how do you see its role in supporting Liberia’s financial future?
In the coming years, I aim for Atlantic Life to be a strong partner with the business community and government in capital formation. Insurance premiums can be invested to support growth, and we want to actively contribute to developing all sectors of the country.
What is your final message for our readers of USA Today?
Liberia is a sleeping giant about to awaken. Those who act now will benefit most. The time to plan is now – invest, establish a presence, and seize opportunities. I currently have 1,000 acres for agricultural development and am engaging potential partners. Don’t wait, start planning today.