From left: Dr Julius Odede, Head of Lagos Operations at National Insurance Commission, (NAICOM), presenting appreciation award plaque to Chief  Strategist of MelvinAfrica, Chiamaka Ugo-Obidike, at the just concluded 2026 BusinessToday Annual Conference and Exhibition on Insurance and Pensions held in Lagos , with the Convener of the conference, Mrs. Nkechi Naeche-Esezobor.

Expert in the financial market has called on insurance and pension operators to need for customer-focused innovation and stronger integration across financial services.

The Chief Strategist of MelvinAfrica, Chiamaka Ugo-Obidike, made this call at the 2026 BusinessToday Annual Conference & Exhibition on risk protection and retirement planning, held recently in Lagos.

The MelvinAfrica Chief Strategist, who also delivered the keynote presentation themed “Youth Advantage: Redefining Risk Protection and Retirement Planning for a New Era,” said one of the major challenges in product development is creating solutions without involving the actual end users.

From left: Managing Director/Chief Executive Officer of Unitrust Insurance Company Limited, Adedayo Arowojolu; Chief  Strategist of MelvinAfrica, Chiamaka Ugo-Obidike, past President of Nigerian Council of Registered Insurance Brokers Babatunde Oguntade at the event.

She stated, “Customers must be part of the product development process to ensure solutions truly meet their needs.”

She further highlighted the importance of data and seamless connectivity across financial platforms, urging stakeholders in the industry to embrace open finance.

According to her, customers should be able to access banking, coverage services, retirement savings, and investment solutions through a single platform, rather than having to navigate multiple applications.

She noted that although the financial services industry is evolving, it must move more quickly to keep pace with a youthful and increasingly digital population.

“Today’s customers do not want to open different apps to access their financial information. The industry must come together to make this work.”

“The biggest advantage we have is the youth. If the system is not ready for them, they will move on without it,” she said.

Earlier, while addressing participants, the convener of the conference, Nkechi Naeche-Esezobor, reflected on how the initiative began. She described its early phase as demanding but highly significant. According to her, the platform first started as an awards-focused initiative before gradually evolving into a forum designed to drive meaningful industry progress.

She explained that this transition was inspired largely by the late Mrs. Tonia Smart, who advised that recognition should go beyond celebration and contribute directly to measurable industry growth. Her recommendation later led to the introduction of conferences and seminars shortly after the platform’s fifth anniversary.

She said the platform has continued to expand under that vision of sustainable impact and sector advancement.

Speaking on the theme of the event, she said placing young people at the centre of sector reforms would help the insurance and pension industries build a stronger, more inclusive financial protection system.

She explained that the theme seeks to modernise insurance and pension products to reflect the realities of today’s youth-driven economy. With the growth of digital work, entrepreneurship, and the gig economy, the conference aims to promote flexible, affordable, and technology-enabled solutions tailored to young Nigerians.

This approach, she noted, is expected to close existing protection gaps and make insurance and pension products more accessible and relevant.

The event featured over 450 delegates, including regulators, business executives, key stakeholders, and young participants who explored practical ways to increase adoption among the youth.

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