By Insurance Meets Tech (IMT) has commended the Nigerian Insurers Association (NIA) for its strategic collaboration with fintech companies aimed at accelerating and enhancing transparency in insurance claims payments. The move comes after NIA Chairman Kunle Ahmed announced plans to invite fintechs to pitch innovative solutions for revolutionising the claims process.
Founded as West Africa’s premier insurance-technology platform, IMT has, over four years, successfully connected insurance leaders, insurtechs, cybersecurity experts, and fintechs to drive industry transformation. Its inaugural 2022 edition convened over 300 C-suite executives, calling for urgent partnerships to boost Nigeria’s insurance penetration.
IMT’s 2023 event further served as a springboard for early-stage insurtech startups, linking them to funders and mentors. In 2024, the conference pushed boundaries with the theme “Insurance and Tech: Beyond Collaborations,” focusing on redefining insurance as a lifestyle product for Millennials and Gen Z through interactive showcases and creative initiatives.
Reacting to the NIA’s announcement, Odion Aleobua, CEO of Modion Communications and Convener of IMT, said, “The NIA’s commitment to leveraging fintech to fast-track claims payment is precisely the kind of decisive action the industry needs. Claims are the ultimate moment of truth for policyholders. Injecting convenience, speed, technology and transparency into this process is not just an operational upgrade; it’s a fundamental step towards rebuilding trust and making insurance more relevant and accessible to the average Nigerian.”
Aleobua added, “This initiative validates the critical conversations and strategic partnerships that IMT has been championing, moving ‘Beyond Collaborations’ to tangible technological integration that benefits insurers and the insured. We are thrilled to see the NIA taking this bold leap.”
As IMT gears up for its 2025 conference, it plans to deepen its exploration of the insurance sector through predictive market techniques and broader technological integration. IMT remains committed to serving as West Africa’s foremost platform for dialogue, innovation, and partnerships that drive insurance sector growth.
