Less than 3 percent of Nigerians have active insurance plans, according to a recent survey by Cubecover.
The company disclosed this recently during an event aimed at increasing access to insurance services in Nigeria.
In response, Cubecover CEO Deji Macaulay noted that the company is ready to bridge the gap that hinders access to insurance services in Africa’s most populous country, Nigeria.
“Insurance should be accessible to everyone, not just a privileged few. “Our platform simplifies the process, making insurance easier, friendlier and more affordable for Nigerians so they can get the coverage they need,” he said.
On his part, the organization’s Chief Technical Officer, Sam Ishie, shared the results of a survey conducted by the company, which highlighted that less than 3% of Nigerians are currently insured.
“This is the driving force behind the strategic partnerships that Cubecover has initiated to improve insurance penetration by connecting service providers, network providers and financial institutions.”
To close the event, a panel discussion was organized to discuss how investors can capitalize on the opportunities in the insurance sector in Nigeria, including leaders from insurance, telecommunications and finance, notably MTN Nigeria, A’isha Mumuni, Head of Distribution at AXA Mansard; Jumoke Odunlami, Head of Wealth Management Products at PalmPay; and Habib Kowontan.
