Leadway Assurance, in collaboration with Wafira Ntaba Limited, has introduced a new insurance policy for Nigerian women-led small to medium-sized enterprises (SMEs) to drive financial inclusion.

The new product, called Plan B Insurance, offers simplified and affordable packages, enhancing financial inclusion and income protection for women across different social strata.

The new offering is in its single-wide covering risks and perils related to auto insurance, healthcare, personal accident, fire, burglary, life insurance and education, cutting across its different product packages.

Speaking on the new insurance policy for women, a representative of Wafira Ntaba, Ayona Aguele Trimnell, shared the inspiration behind the products.
She stated, “Plan B is an idea that has been in development for 10 years. As I began exploring insurance products aimed at women in other countries, I recognised the need for insurance products that promote financial inclusion in Nigeria, specifically for women. I believe we could create something that addresses their unique concerns.

“Women need to understand how insurance can alleviate their worries and the benefits of being insured. I have personally enjoyed the advantages of insurance for over fifteen years, and I believe other women should have the opportunity to experience the same benefits.”

The product focuses on gender-inspired market penetration, amplifying insurance benefits and helping more women to achieve a more financially-secure future.

“Financial inclusion is important and achievable, and we can make it happen if we put in a deliberate effort to educate more women about insurance, simplify the benefits to help even the uneducated understand, and convince them to secure their future by becoming a policyholder. It has been proven and tested that women also buy insurance, but more women need to be aware and get insured,” Trimnell said.

Leadway’s Director of Sales, Retail and Partnerships, Kike Fischer, explained the market approach, saying: “We are confident that these products will help women of all classes in Nigeria create and protect wealth, recover from economic challenges, pursue their purposes and lead their families with peace of mind.”