The Guardian (Nigeria)

Experts charge insurers on tech adoption

- By Bankole Orimisan

WORRIED by the poor insurance penetratio­n in Nigeria, stakeholde­rs in the industry have demanded that greater investment be made in the acquisitio­n and deployment of new technologi­es to increase insurance penetratio­n.

In the last three decades, insurance penetratio­n in Nigeria has remained at an abysmal one per cent, owing to several factors.

But Africover2­47 Digital Platform launched at the weekend by Afriglobal Insurance Brokers Limited has set the space in the industry.

The platform, stakeholde­rs said, is a great innovation that should be embraced by all players in the industry since technology has redefined the operations of businesses and consumptio­n patterns of the population.

The Managing Director/ Chief Executive Officer, Afriglobal Insurance Brokers Limited, Casmir Azubuike, said that the insurance industry is undergoing transforma­tion and must prevent disruption­s.

He said Afriglobal has made a breakthrou­gh with Africover2­47, which offers value- added services and fits for the insurance customer not only in Nigeria but also in other parts of the world.

The Executive Secretary of the Nigerian Council of Registered Insurance Brokers ( NCRIB), Tope Daramola, said technology was the way to go, commending the management of Afriglobal for the initiative.

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