Business
Insurance Meets Tech Unveils Nigeria’s Top 10 Digital Insurance Innovators
Insurance Meets Tech (IMT) has unveiled its inaugural “10 To Watch Insurance Innovators” ranking, recognising Nigerian insurance companies leading the industry’s digital transformation through technology-driven innovation and improved customer access.
The ranking, developed by Creato Urban, assessed insurers using two equally weighted criteria: digital transformation depth, which measures the sophistication of technology infrastructure and automation, and market impact, which evaluates how digital innovations improve accessibility and reach for policyholders.
Heirs Insurance Group emerged as the overall leader with a combined score of 89/100, earning praise for its digital insurance experience centre, AI-powered customer services, automated claims processing, and expansion of insurance access to more than three million Nigerians since 2021.
Leadway Assurance ranked second with 85/100, recognised for its enterprise-wide digital transformation strategy, AI-powered claims verification, and innovative products such as pay-as-you-go motor insurance. SanlamAllianz Nigeria placed third with 84/100, driven by its nationwide digital agent platform and same-day USSD-enabled claims service.
The remaining companies in the top 10 are Cornerstone Insurance Plc, CubeCover, Sovereign Trust Insurance Plc, Rex Insurance Limited, Enterprise Life Assurance Company Nigeria, Noor Takaful, and Zenith General Insurance Company Limited.
IMT also presented its inaugural “Most Promising Innovation Yet” recognition to emPLE for its cloud-based Data Lake platform, which aims to unify customer data across insurance operations and enable AI-powered underwriting, fraud detection, and embedded insurance services once deployed.
Speaking on the rankings, IMT Convener and Creato Urban Founder/CEO Odion Aleobua said the recognition reflects the Nigerian insurance industry’s gradual shift towards full digitalisation in line with regulatory expectations.
“This list indicates that the transformation of the Nigerian insurance industry is incrementally aligning with the growing demand for complete digitalisation of insurance services as required by NAICOM. The companies featured are taking the initiative rather than waiting for the industry to evolve,” Aleobua said.
The “10 To Watch” framework was developed by IMT’s editorial and advisory team to recognise insurers advancing technology adoption while expanding access to insurance across Nigeria. The announcement comes ahead of the fifth edition of Insurance Meets Tech, scheduled for September 18, 2026, at the Balmoral Convention Centre, Sheraton Hotel, Ikeja, Lagos.
The post Insurance Meets Tech Unveils Nigeria’s Top 10 Digital Insurance Innovators appeared first on Business Today NG.
Femi Otedola, the chairman of First HoldCo Plc, has revealed that he shared a bunk bed with Lagos State Deputy Governor Obafemi Hamzat during their boarding school days 49 years ago.
Mr Otedola disclosed this in a post on X after hosting a dinner in honour of his longtime schoolmate, Mr Hamzat, attended by Aliko Dangote, the president of Dangote Group, and Abdulsamad Rabiu, the chairman of BUA Group.
The business tycoon said Mr Hamzat’s character has been defined over the years by honesty, sincerity, fairness, and strong moral principles.
“Yesterday, I hosted dinner in honour of @DrObafemiHamzat, the incoming Governor of Lagos State,” Mr Otedola said.
“A man of the highest integrity, with whom I shared a bunk bed at boarding school 49 years ago,” he added.
Mr Otedola stated that his longstanding relationship with Mr Hamzat has given him insight into the deputy governor’s character and values.
“My experience of his character over the years has been defined by his honesty, sincerity, fairness and strong moral principles,” Mr Otedola said.
READ ALSO: Tinubu’s reforms have put Nigerian economy on path of sustainable growth – Otedola
He, however, did not disclose the name of the boarding school he attended with the Lagos State deputy governor.
The billionaire investor has interests in financial services and oil & gas. He holds about 27.7 per cent of First HoldCo’s shares, following months of steadily increasing his stake in the banking group.
Mr Hamzat is seeking to contest the 2027 governorship election in Lagos State on the platform of the All Progressives Congress (APC), and has served as deputy governor under incumbent Governor Babajide Sanwo-Olu since 2019.
He emerged as the APC governorship candidate in May 2026.
Mr Hamzat served as Lagos State Commissioner for Science and Technology and later as Commissioner for Works and Infrastructure from 2005 to 2015.
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