With technological disruption reshaping the insurance landscape, industry leaders are grappling with the implications of digital transformation.
At the convergence of insurance and technology conference, the thought-provoking panel, titled “Mainstreaming Tech in Insurance: Are We Ready for the Fusion?” featured industry leaders including Bode Pedro, CEO and Founder of Casava; Stephen Alangbo, Managing Director of Cornerstone Insurance Plc; Niyi Onifade, CEO of Heirs Life Assurance; Abimbola Onakomaiya, MD/CEO of Peakthrust Insurance Brokers Limited;
Tunde Mimiko, Managing Director /CEO of Sanlam Nigeria; and Adebowale Banjo, Co-founder/CEO of Mycover.ai.
This high-level panel at the West Africa’s premier conference “Insurance Meets Tech 2024 (IMT 3.0)”, explored the mainstreaming of tech in insurance, while also discussing strategies for successful adoption, overcoming obstacles, and capitalising on emerging opportunities.
In his remarks, Pedro emphasised the pressing need for industry leaders to address unemployment and create opportunities. He said: “I think one of the things we have to do, first of all as leaders is to remind ourselves that there are no jobs out there. People are hungry. People need jobs. People need an opportunity to live their lives and grow. So, I’m developing this thought process where we can be truly part of change. Because if you are part of the job creation, you will get insurance penetration. So, learn from the past, collaborate and create jobs to drive insurance.”
He further urged the insurance community to learn from past experiences and collaborate to create job opportunities that will benefit the industry as a whole. “The questions we should ask ourselves is what do we learn from the past as insurance leaders? How can we collaborate to create job opportunities that will drive through in the industry?” he added.
With a plethora of insightful contributions from the panellists, who are all pioneering innovative solutions in the insurance sector, the discussion offered a unique glimpse into the transformative power of technology in enhancing customer experience, improving operational excellence, and fostering industry-wide collaboration.
Also at the conference, renowned musical artist and tech entrepreneur MI Abaga joined Bode Pedro for an engaging keynote showcase titled Trust: The True Currency of Insurance. During the highly interactive showcase, Pedro shared personal anecdotes and lessons from his experiences at Casava, illustrating how insurance companies can cultivate long-term relationships based on trust, while Abaga highlighted trust has influenced his extensive music and creative entrepreneurship career.
Featuring over 300 C-suite executives, 56 companies, and 50 distinguished speakers, Insurance Meets Tech 2024 (IMT 3.0) successfully concluded on September 27, 2024, in Victoria Island, Lagos, marking a significant milestone in the region’s evolving insurance landscape.
This year, Casava, Nigeria’s leading digital micro-insurance provider, was the official insurer of the event, providing attendees with immediate coverage for personal accidents and item losses. The partnership, which aligns with the National Insurance Commission’s (NAICOM) agenda to expand micro-insurance offerings in Nigeria, underscores Casava’s commitment to enhancing insurance accessibility.
The conference also introduced IMT Redefined, a segment celebrating youth culture and the push for financial inclusion through creativity and Afrobeats, highlighting the vibrant spirit of innovation within Nigeria and Africa.
As the insurance landscape evolves, Insurance Meets Tech 2024 reaffirmed its role as a catalyst for collaboration and growth within the industry, setting the stage for future advancements in insurance technology.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
