• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 10, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Experts To Unlock Policy, Tech Bottlenecks Hindering Insurance Penetration

by Zaka Khaliq
2 years ago
in Business
Bottlenecks Hindering Insurance Penetration
Share on WhatsAppShare on FacebookShare on XTelegram

Experts are expected to converge at the second edition of the Insurance Meets Tech (IMT) conference to Unlock policy and tech bottlenecks hindering disruptive insurance penetration. 

Advertisement

The conference, which will hold between September 28 and 29, 2023, in Victoria Island Lagos, is to address prevailing concerns in Nigeria’s insurance industry and on the continent.

According to the organisers, IMT 2.0 will converge prominent players in government, finance, health, tech, and telecom sectors, as well as the prime sub-sectors players in insurance and insurtech, to brainstorm, untangle, and evolve viable solutions to the challenges of insurance penetration in Nigeria and across Africa.

The two-day conference will feature policymakers, regulators, keynote speakers, and sector leaders in panel discussions, exhibitions, specialised masterclasses, and product and service demos, providing a platform for stakeholders to share ideas, insights, and experiences on how to leverage technology to drive insurance penetration and improve the insurance industry’s efficiency and effectiveness, such as its use of data analytics to improve underwriting and claims management processes; cyber insurance; and the role of web aggregators in the industry’s value chain. 

The conference will culminate in a gala and awards evening to recognise excellence and outstanding contributions to the industry. With the COVID-19 pandemic and enabling government policies accelerating the adoption of digital technologies, IMT 2.0 is expected to be a catalyst for the digital transformation of the insurance industry in Nigeria and across Africa.

RELATED

NACETEM Hosts STI Indicator Dashboard Version 3.0

NACETEM Hosts STI Indicator Dashboard Version 3.0

6 minutes ago
Nigeria Sees Growth In Creative Industry As Sector Contributes Over $7bn To Economy

Nigeria Sees Growth In Creative Industry As Sector Contributes Over $7bn To Economy

16 minutes ago

According to the convener of the conference, Odion Aleobua, “IMT 2.0 will be a game-changer for the insurance industry in Nigeria and across Africa. 

This second edition will build on the successes of the first and provide stakeholders with more opportunities to network, collaborate, and explore innovative solutions to the challenges facing the industry.

“Since the inaugural edition of the conference in September 2022, the Nigerian insurance and insurtech sectors have made visible strides. The National Insurance Commission (NAICOM) affirmed that Nigeria’s insurance industry recorded a 36.3% quarter-on-quarter growth and a 17.8% year-on-year rise in gross premium income at N726.2 billion in the fourth quarter of 2022, compared to the previous year.

“Data provided by Statista in May 2023 revealed that the value of gross life insurance premiums written in Nigeria exceeded €600 million for the first time. In 2022, life insurance premiums amounted to €677.3 million, up from €545.2 million in the previous year. The growth margins can be attributed to various factors, including increased awareness of insurance products, the expansion of distribution channels, and insurance companies’ gradual adoption of technology.

“Statista also stated that ‘In 2022, the value of gross property and casualty (P&C) insurance premiums written in Nigeria amounted to almost 800 million euros. This figure is believed to be the highest value since 2000 as P&C premiums increased by 100 million euros between 2021 and 2022,” he pointed out.

These figures, he said, are, however, dwarfed in comparison to the country’s South African counterparts, where the value of gross property and casualty insurance premiums written amounted to approximately €5 billion in 2022, and P&C premiums peaked in 2021 when they reached €9.35 billion. 

The gap is further broadened when considering global insurance industry figures, which, according to McKinsey and Company’s Global Insurance Report 2023: ‘Closing the Personal P&C Protection Gap’, surpassed $6.5 trillion in GWP in 2022, with P&C representing almost one-third of total revenues!

“We have thus carefully selected our speakers and panelists from industry leaders, tech giants, and government regulators to ensure that conference delegates get the best insights and experiences on how technology can unlock policy and tech bottlenecks hindering disruptive insurance penetration. IMT 2.0 promises to be bigger, better, and more impactful”, Odion added.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

NGX Accelerates Devt Of ETDs In West Africa

Next Post

2023 Hajj: Nigerian Pilgrims To Start Returning Home July 4

Zaka Khaliq

Zaka Khaliq

You May Like

NACETEM Hosts STI Indicator Dashboard Version 3.0
Business

NACETEM Hosts STI Indicator Dashboard Version 3.0

2025/08/10
Nigeria Sees Growth In Creative Industry As Sector Contributes Over $7bn To Economy
Business

Nigeria Sees Growth In Creative Industry As Sector Contributes Over $7bn To Economy

2025/08/10
Empowering First-Time Homebuyers Through Policy And Education
Business

Federal Gov’t Lowers Mortgage Rates, Reduces Down Payments For Home Ownership

2025/08/10
NIPCO’s CNG Investments Align with Nigeria’s Energy Goals – Tinubu
Business

NIPCO Seeks To Sustain Downstream Oil Sector Investment

2025/08/10
ExxonMobil Posts $19.7bn Earnings In Q3, 2022
Business

ExxonMobil To Provide Investment Insights In Nigeria’s Deepwater Frontier At 2025 AEW

2025/08/10
Niger/Kogi Customs Seize Car, Others Worth N755m
Business

Customs Mulls Upward Review Of Agents’ License Fee

2025/08/10
Leadership Conference advertisement

LATEST

NACETEM Hosts STI Indicator Dashboard Version 3.0

Nigeria Sees Growth In Creative Industry As Sector Contributes Over $7bn To Economy

Marwa Advocates Collective Action Against Drug Abuse, Banditry

KWAM 1: NAAPE Urges NCAA To Reinstate Suspended ValueJet Pilots

Federal Gov’t Lowers Mortgage Rates, Reduces Down Payments For Home Ownership

Audu Ogbeh Was A Great Nationalist – ACF

Odumegwu-Ojukwu Visits Nigerian Citizen In Benin Republic Prison

NIPCO Seeks To Sustain Downstream Oil Sector Investment

ExxonMobil To Provide Investment Insights In Nigeria’s Deepwater Frontier At 2025 AEW

Customs Mulls Upward Review Of Agents’ License Fee

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.