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Experts charge insurers on tech adoption

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Worried by the poor insurance penetration in Nigeria, stakeholders in the industry have demanded that greater investment be made in the acquisition and deployment of new technologies to increase insurance penetration.

In the last three decades, insurance penetration in Nigeria has remained at an abysmal one per cent, owing to several factors.

But Africover247 Digital Platform launched at the weekend by AfriGlobal Insurance Brokers Limited has set the space in the industry.

The platform, stakeholders said, is a great innovation that should be embraced by all players in the industry since technology has redefined the operations of businesses and consumption patterns of the population.

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The Managing Director/ Chief Executive Officer, AfriGlobal Insurance Brokers Limited, Casmir Azubuike, said that the insurance industry is undergoing transformation and must prevent disruptions.

He said AfriGlobal has made a breakthrough with Africover247, which offers value-added services and fits for the insurance customer not only in Nigeria but also in other parts of the world.

The Executive Secretary of the Nigerian Council of Registered Insurance Brokers (NCRIB), Tope Daramola, said technology was the way to go, commending the management of AfriGlobal for the initiative.

He however urged the company to ensure that all loopholes are covered to ensure smooth running and operation of the platform while observing the necessary guidelines as provided by the regulator.

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