The Nigerian insurance industry is poised for a significant transformation, driven by technological advancements and regulatory reforms. The upcoming Insurance Meets Tech conference, a leading platform in West Africa, will serve as a crucial forum for discussing these developments and charting a future course for the sector. The event will bring together key stakeholders, including industry leaders, regulators, and technology experts, to explore the intersection of insurance and technology, focusing on innovation, policy environment, and operational efficiencies.
Kunle Ahmed, Chairman of the Nigerian Insurers Association (NIA) and CEO of AXA Mansard Insurance, will be a Guest of Honour at the conference. His presence signifies the importance of the event and the NIA’s commitment to driving technological advancement within the insurance industry. Ahmed’s leadership within the NIA, coupled with his advocacy for digitalization and tech-led innovations, makes him a crucial voice in shaping the future of the Nigerian insurance landscape. His participation will enrich the discussions at the conference, particularly in light of the recent passage of the Nigerian Insurance Industry Reform Act and the launch of the NIA Innovation Lab. These initiatives underscore the industry’s focus on modernization and adaptation to a rapidly evolving digital environment.
Joining Ahmed are other prominent figures from the Nigerian insurance ecosystem. Babatunde Oguntade, President of the Nigerian Council of Registered Insurance Brokers, will bring the perspective of the broking community, highlighting the role of technology in enhancing client service and distribution. Mrs Yetunde Olubunmi Ilori, President and Chairman of the Council of the Chartered Insurance Institute of Nigeria, represents the professional development arm of the industry, emphasizing the importance of training and upskilling to meet the demands of a tech-driven insurance sector. Mrs Abimbola Onakomaiya, President of the Professional Insurance Ladies Association, will contribute insights on gender inclusion and diversity within the industry, particularly in the context of technological advancements. Mr. Olusegun Omosehin, Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission, will provide the regulatory perspective, outlining the government’s vision for the sector and its role in fostering innovation and protecting consumer interests. The presence of these leaders collectively represents a unified front in navigating the challenges and opportunities presented by technological disruption.
The conference’s focus on innovation and technology is further reinforced by the participation of Per Lagerström, a global thought leader in insurtech, behavioural science, and innovation, as the headline speaker. Lagerström, a former partner at McKinsey & Company with extensive experience in financial services, FMCG, and strategy consulting, will share his expertise in BehaviorTech. This cutting-edge field combines behavioural science, artificial intelligence, and innovation to drive transformative change within various sectors, including insurance. His insights will be particularly valuable in exploring how technology can be leveraged to improve customer engagement, personalize insurance products, and enhance risk assessment.
The Insurance Meets Tech conference comes at a pivotal moment for the Nigerian insurance industry. The passage of the Nigerian Insurance Industry Reform Act signifies a commitment to modernizing the regulatory framework and creating a more conducive environment for innovation and growth. The establishment of the NIA Innovation Lab further demonstrates the industry’s proactive approach to embracing technology and developing new solutions to meet evolving customer needs. These initiatives aim to improve the efficiency and effectiveness of the insurance sector, ultimately benefiting both consumers and insurers.
The discussions at the conference will revolve around several key themes, including the role of technology in enhancing customer experience, improving operational efficiency, and managing risk. Participants will explore the latest trends in insurtech, such as artificial intelligence, blockchain, and the Internet of Things, and discuss how these technologies can be applied to create new products and services, streamline processes, and enhance decision-making. The conference will also address the challenges and opportunities presented by the evolving regulatory landscape, emphasizing the importance of collaboration between regulators, insurers, and technology providers to ensure responsible innovation and consumer protection. The insights shared by industry leaders, technology experts, and regulators will contribute to shaping a roadmap for the future of the Nigerian insurance sector, paving the way for a more dynamic, customer-centric, and technologically advanced industry.
