• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 8, 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

Insurer Advocates Digital Transformation To Accelerate Insurance Penetration

by Zaka Khaliq
1 year ago
in Business
CEO of Enterprise Life Nigeria

CEO of Enterprise Life Nigeria, Mrs. Funmi Omo

Share on WhatsAppShare on FacebookShare on XTelegram

The CEO of Enterprise Life Nigeria, Mrs. Funmi Omo is advocating digital transformation to accelerate insurance penetration in the country.

Advertisement

This, she said, is needed to raise adoption even as Enterprise Life is leading the charge in advocating digital adoption across the insurance industry to enhance financial inclusion and education of Nigerians.
In a recent virtual Q&A session themed: ‘Digital Transformation in Africa Insurance,’ Omo highlighted the critical role of digital technologies in reshaping the insurance landscape.

Omo detailed how digital platforms, artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), data analytics, and blockchain technology are disrupting traditional insurance models. Addressing the specific needs of the African market, she underscored the importance of developing user-friendly insurance apps optimised for low-bandwidth connections and offline capabilities, offering flexible payment options, and providing 24/7 customer support.

Emphasising the role of innovative products like AdvantageConnect, the company’s digital insurance platform leveraging geolocation technology to enhance customer interactions and efficiency, she explained that, “Prospective and existing customers can now connect with any of our LifePlanners closest to them, to access a range of services, and receive a tailored policy in less than five minutes.”
Omo also acknowledged the challenges traditional insurers face during digital transformation, such as integrating legacy systems, overcoming cultural resistance, securing the right talent, navigating regulatory hurdles, and ensuring data privacy and security. Modernising legacy systems is complex and costly, but it is essential for a more efficient and responsive service, she noted.

Furthermore, Omo highlighted the transformative potential of AI and ML in expanding coverage to underserved segments by analysing alternative data sources and automating claims processing. She underscored the importance of upskilling employees and fostering a culture of innovation, suggesting the establishment of dedicated innovation labs and cross-functional teams to drive collaborative efforts.

RELATED

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

19 hours ago
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

21 hours ago

Despite regulatory challenges, Omo pointed out that, the rise of insurtech has significantly boosted financial inclusion, while emphasising the significance of balancing innovation with trust to ensure customer confidence and compliance.

Insurers who can strike the right balance between innovation and trust will be well-positioned to thrive in the digital age, Omo stated.

She said, Enterprise Life’s commitment to digital transformation is driven by its need to make insurance more accessible and beneficial for all Nigerians.

 


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

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: Digital technology
SendShareTweetShare
Previous Post

Investments In CNG, LNG Infrastructure Critical For Nigeria’s Energy Security – Ekpo

Next Post

AIICO Insurance Rewards School Children

Zaka Khaliq

Zaka Khaliq

You May Like

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth
Business

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

2025/06/07
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities
Business

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025/06/07
FCCPC To Prosecute PoS Operators Over Service Price Fixing
Business

FCCPC Sets Up Committee For Anti-counterfeit Portal

2025/06/07
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

2025/06/07
BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU
Business

BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU

2025/06/07
Centre Partners Niger Delta Varsity On Marine Training
Business

Centre Partners Niger Delta Varsity On Marine Training

2025/06/07
Leadership Conference advertisement

LATEST

Boko Haram Abducts Catholic Priest, 9 Others, Kills 1 In Borno

Katsina Govt Moves Against Threats To Peace, Stability

Delta Govt Approves Repair Of Palace Road, N6.7bn UBEC Grant

HURIWA Urges Federal Gov’t To Immortalise Mike Ejeagha

NDDC Will Sustain Support For Digital Transformation In Niger Delta, Says Ogbuku

Gov Eno’s Defection Will Unlock Opportunities In South-South – Okpebholo

No Trust, No Police

Risk Managers Seek Review Of Nigeria’s Early Warning Systems

$300m AMCE To Curb Medical Tourism Drain

COAS Lauds Army Veterans, Reaffirms Support For Welfare

© 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.