StoreHarmony partners AXA Mansard

We are pleased to annouce that StoreHarmony LTD, the parent company of Storeharmony, has partnered with AXA Mansard PLC to provide automated inventory insurance covering to its customers in Nigeria.

2020 led us to see how fragile businesses can be during widespread political protests especially the ones that manage inventory. Our dedication to our customers has led us to sign a strategic partnership with AXA Mansard. This collaboration ensures that the inventories of our subscribed customers are insured in case of any disaster or unrest to the tune of the product that is suitable for them. We understand the need for every business owner to reduce the risks involved in running his/her business, and the recent happenings have proven that it is high time SMEs took the safety of their businesses seriously.

Storeharmony Limited has taken a step ahead and made this possible for all our customers as we are committed to giving our customers the best business experience they deserve.

Why You Should Insure Now

During the last peaceful protest hijacked by hoodlums in October 2020, a lot of businesses were looted and stores vandalized. This was a great loss for such business owners, especially if there is no insurance cover for the business. Our survey during this period showed that many businesses closed down due to total vandalization, while others struggle to stay in business.
This is why Storeharmony is taking steps to ensure that none of its customers have to go through this ordeal at any point in future without a covering. AXA Mansard, one of the leading insurance companies in Nigeria has enabled our platforms to integrate with them in way to simplifies enabling covering for any Storeharmony powered business.

Features of Our Partnership

  1. In the event that your inventory/property is lost, damaged or destroyed as an insured entity, AXA Mansard will pay you the value of the property/inventory lost at the time of its destruction or loss, OR pay you the amount of such damage or reinstate/replace such property or any part of it.
  2. AXA Mansard shall however not exceed in the amount of the total sum insured or remaining after payment for any other loss/destruction has happened during the same period, unless otherwise agreed by the company.
  3. The negotiated insurance covers your business in the following scenarios:
  1. Fire (whether resulting from explosion or otherwise)
  2. Lightning/Explosion
  3. c. Aircraft and other aerial devices and/or articles dropped therefrom
  4. Riot, strikers, locked-out workers (caused by people disturbing the public peace, action of any lawful authority in suppressing or attempting to suppress such disturbance  or willful act of any striker or locked-out worker)
  5. Malicious damage (caused by the malicious act of any person, whether or not such act is committed in the course of a disturbance of public peace)
  6. Earthquake or volcanic eruption
  7. Storm, tempest and flood
  8. Escape of water from any tank, apparatus or pipes
  9. Impact by any road, vehicle or animal.

NB: You may request a full article on the policy covering to know the exclusions to these coverings. Send your request mail to

Plans and Products

There are two plans under this partnership and they are: a.) insurance cover up to N2million and b.) Insurance cover up to N5million
To get your business insured is cheap and easy; see below packages you can subscribe to monthly.

  1. Up to N2 Million cover : [your monthly subscription + N700 Premium monthly]
  2. Up to N5 Million cover : [your monthly subscription + N1,400 Premium monthly]

This means, as you pay your monthly subscription, you are also automatically actively insured and your business covered and protected from damages/loss as a result of disaster or unrest.

How to get started immediately

If your total subscription payment to storeharmony is above 9,500 Naira, download the latest software update and you will see a button the enables you to Activate Insurance. Click this button, follow the simple step and within two minutes, you are done at no extra cost at this time. Some stores may not be eligible at this time. In this case you will be required to upgrade your account plan.

Important Terms & Conditions

  1. You must be using the Storeharmony Inventory Management Solution for your business. This way, we are able to keep adequate records of your inventory which will be easily made available in the event of a “claim”.
  2. You must be subscribed to or upgrade to the “Classic Bundle Package” of the Storeharmony Solution.
  3. You must be a cloud enabled customer who subscribes monthly to Storeharmony cloud services.
  4. In the event that you are not subscribed in a month, premium remittance is void for that month, which in turn reduces the available sum for claim.
  5. The insurance only covers natural disasters, well-known riots and unrest that lead to fire and burglaries.
  6. Event that leads to fire and burglars must have a police report to request a claim.
  7. Insurance does not cover pilferages, rain damages or casual theft.
  8. Inventory records must be regularly synched to the cloud as this will only be the basis for which any claim will be processed.
  9. You must comply with all KYC and other requirements in order to satisfy the policies of our partnering organization which assures processing of claim requests.