Former president of AIO, Delphine Traore, who is also the chief operations officer of Alliance Africa, said, assured that, innovation in the insurance sector would help in complementing government efforts in economic growth and development.
Nigeria’s insurance industry may be on the verge of a significant digital transformation as CBI Partnering InsurTech positions itself to bridge longstanding gaps in accessibility, trust, and customer experience through technology-driven solutions designed to deepen insurance penetration across the country.
Speaking following the company’s acquisition of a Web Aggregator Licence from the National Insurance Commission (NAICOM), Chris Baywood Ibe, founder/an executive vice chairman of Baywood Holdings Limited said the development represents more than regulatory approval. “It signals the beginning of a new era where technology will play a central role in expanding insurance access and rebuilding public confidence in the sector.”
According to him, despite the availability of numerous insurance products in Nigeria, adoption has remained low largely because many consumers perceive insurance as complex, inaccessible, and difficult to navigate, particularly during claims settlement.
