Firm Deploys Digital Solution Over Poor Insurance Coverage

Despite the huge benefits of insurance, just less than one per cent of the over 200 million population in Nigeria has insurance coverage.

This is even as an innovative insurance company, Enterprise Life, has launched a digital platform, Advantage Connect, to revolutionise insurance and financial planning in the country. The commissioner for Insurance/chief executive officer of National Insurance Commission (NAICOM), Mr Olorundare Sunday Thomas, at the unveiling of the App, over the weekend, in Lagos, averred that Advantage Connect is an innovative solution, that will address the poor insurance penetration in the country.

“This solution aligns with our vision at the federal government to fully digitise insurance in Nigeria. I commend the vision of Enterprise Life for leading in this area. With Advantage Connect, I believe more people will have access to insurance and be brought into the financial net,” Thomas posited.

In the same vein, the chief executive officer of Enterprise Life, Funmi Omo, disclosed that life is full of uncertainties that have been aggravated by changing economic realities, adding that, ‘We realised that many people see insurance as an afterthought, but we believe everyone should plan their lives to buy assurance amid life’s uncertainties. We have launched this app to connect people to a life planner next door that will be available as a reliable partner.”

Omo averred that Advantage Connect is an application that connects individuals with a life planner that will provide tailored life insurance solutions that are specific to the individual’s needs.

“It is designed as a digital insurance channel, creating a new digital experience around insurance by making the interactions between customers, agents, and Enterprise Life quicker, easier, and more convenient. It is built on geo-location technology like Uber, as prospective and current customers can connect with Enterprise Life agents for services, financial advisory, and purchase of insurance products in a secure manner. The channel includes features that allow customers to purchase instant cover, manage existing policies, manage claims and pay premiums,” Omo explained.

A unique feature of the Advantage connect app is the seamlessness in connecting with a life planner, who will seek to understand the specific needs of the customer and create a tailored life insurance solution for the customer, Omo affirmed.