Insurance Industry Embraces New Partnership to Promote Insurance Business

Operators in the insurance industry have announced a new partnership agreement that is tailored toward building bridges to enhance business development that will help deepen insurance.

The Insurance Meets Tech Conference 2023 (IMT 2.0), held on September 28 and 29, 2023, at the Civic Centre in Victoria Island, Lagos, marked a significant milestone in Nigeria’s insurance and insurtech sectors.

Industry leaders and delegates from about 70 organisations, including technology, insurance, insurtech, and Health Maintenance Organizations (HMOs), converged at this prestigious event to discuss the future of insurance and technology in the country.

The conference revolved around “Unlocking policy and tech bottlenecks hindering disruptive insurance penetration.” Here are the key takeaways from this groundbreaking event.

One of the standout features of IMT 2.0 was the emphasis on collaboration between underwriters and technology service providers. The goal is to enhance customer experiences, build trust, and expand service reach across Nigeria. This collaboration is a response to the significant increase in health insurance premiums, contributing to Nigeria’s cumulative insurance premium exceeding one trillion Naira in 2022. Read More