AXA Mansard reiterates the importance of Insurance to the Digital economy

AXA Mansard Insurance PLC, a member of the AXA Group and global leader in insurance and reinforces the company’s commitment to insurance innovation and technological advancement at the recent ‘Digital Identity series’ virtual event tagged, “Why insurance is important for the growth of Nigeria’s digital economy” organised by VerifyMe Nigeria, in partnership with TechCabal.

The event which held on the 5th of February, 2021, featured Bayo Adesanya, Chief Digital Innovation Officer at AXA Mansard; Adia Sowho, CEO, Thrive Agric; Esigie Aguele, Co-Founder/CEO, VerifyMe and Tunji Andrews, Co-Founder, Awabah (Moderator) sharing their perspectives on the topic with a large audience of fintech and other interested professionals.

Speaking at the Panel Session, Bayo Adesanya stated that “The Nigerian Fintech industry is growing rapidly. As the capabilities of these fintech companies increase, so also will the opportunities for success. Naturally, these opportunities come with risks, thus making it vital that fintech companies prepare for possible business risks”.

On the steps taken to make insurance more relevant to the needs and economic status of everyday people, he added that “over the years, AXA Mansard has introduced many innovations in micro-insurance that cater to parts of the population that have been previously neglected. These include the use of USSD as a means of customer onboarding and distribution, as well as the simplification of claims processes to better suit customers in this segment. We have a Malaria product that costs just N500 annually. The introduction of robo-advisors that collect customer data, process queries, underwrite new policies and offer customer support via our website ( and MyAXA app (in Apple and GooglePlay Stores) are a few other innovations that have also been introduced to improve customer experience and satisfaction.

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Mr Adesanya concluded by saying “as I said in 2017, fintech professionals are modern day super-heroes driving transformational and innovative change across all industries – from finance to agriculture to entertainment, mobile communications, health and so on. It is in our collective interest that this change continues. However, we know that even super-heroes need support. Insurance can help to ensure that organisations in the digital economy are given the right protection from events that put their operations at risk. Let us help you so that you can continue to transform our world for the better.”

AXA Mansard is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). The Company offers life and non-life insurance products and services to individuals and institutions across Nigeria whilst also offering asset/investment management services and health insurance solutions through its two subsidiaries – AXA Mansard Investments Limited and AXA Mansard Health Limited respectively. The parent company was listed on the Nigeria Stock Exchange in November 2009.

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