Insurance Meets Tech Conference To Explore Collaborations

The 3rd edition of Insurance Meets Tech (IMT) conference is set to explore collaborations between insurance service providers and promoters of insurtech in the country.

IMT conference, which is West Africa’s largest insurtech and insurance and this conference has been officially scheduled to be held on Friday, September 27, 2024, at the Balmoral Event Center in Victoria Island, Lagos, Nigeria.

The innovative and collaborative event, spearheaded by Modion Communications, presents a unique opportunity for professionals to redefine and synergise collaborations between insurance and insurtech promoters.

This edition will also leverage subculture and creativity to create new pathways for growth and innovation by engaging new markets dominated by tech-savvy young Nigerians – the Gen Zs and Millennials.
Building on the success of previous editions that explored themes such as Leveraging Insurtech to Disrupt the Customer Acquisition Journey and Unlocking Policy and Tech Bottlenecks Hindering Disruptive Insurance Penetration, this year’s event takes a disruptive approach.

The third edition of the IMT will be an all-day, two-pronged event that promises a never-seen-before transformative experience. The first part of the event tagged “IMT 3.0 – The Collaborative Showcase”, converges institutions and experts in the insurance, insurtech, cybersecurity, and financial sectors, with over 70 per cent C-suite participation, VIP networking, product showcasing, industry collaborations, and power-packed conversations.

This integration aims to create meaningful partnerships that will extend insurance’s reach and efficiency, leveraging the latest technologies towards deepening insurance penetration in Nigeria and Africa.

The second part of the event will be an immersive, engaging event tagged ‘Insurance Meets Tech Redefined.’ It will feature a dynamic lifestyle and subculture experiential event aimed at inspiring a broader range of Millennial and Gen Z audiences to adopt insurance as a lifestyle protection tool through interactive sessions, immersive games, and demo sessions to bridge the gap in insurance awareness, education and dispelling age-old myths about insurance to the younger generation.

Speaking on the third edition of Insurance Meets Tech, project director Precious Ubah, spoke on the array of targeted speakers and sectors for this year’s event: “This year’s event will feature a diverse line-up of top speakers from investors, finance, health, insurance, insurtech, technology, fintech, entertainment, and afrobeat subculture. This curated mix will steer unprecedented conversations, redefine how insurance is perceived, and give attendees a distinctive experience, showcasing the synergy between insurance, tech, and creativity.”

Also commenting on this year’s edition, IMT Convener and chief executive officer of Modion Communications, Odion Aleobua, said: “According to a 2022 Insurance Industry Report by Augusto & Co, Nigeria polled an uninspiring record as the country with one of the lowest insurance penetration rates in Africa with only 0.5% penetration. Nigeria needs a strategic market focus on its young people and its largest population group to change this position.

“However, a research paper from the University of Maribor states that most young people up to 35 have a negative opinion about insurance. The insurance industry must devote much more time to communication with our young people, the base of the next generation of consumers of non-banking financial products. This is one of the reasons for the two-pronged approach – for discussion and engagement. This year, we are taking a bolder step to bridging this gap between insurance and its target consumers.”

The organisers intend to drive home this objective by hosting the event on two simultaneous stages. These will host regulators, investors, celebrities, tech innovators, and a participative youth audience.

Past editions have featured brands like Microsoft, Ecobank, Cassava, Leadway Assurance, Microsoft, MTN, AXA Mansard, Interswitch, AIICO, Sanlam, among others, and have been part of previous editions. This year’s event promises greater engagement and involvement, particularly from the youth.