The Nigerian insurance sector would soon witness a revolution as ATB TechSoft Solutions, a renowned software developer hopes to launch a device that enables vehicle owners pay insurance only for their driving time.

The Chief Executive Officer, ATB TechSoft Solutions, Abiodun Atobatele, who disclosed this in Lagos, said the firm would soon develop a solution that will also crash the price of comprehensive insurance to as low as a third party motor insurance, adding that the service is usage based.

Given the high apathy to insurance products in Nigeria, any initiative that would boost patronage is a welcome development, more so, when it is technology based and therefore easily accessible to anyone that is computer-literate.

He said: “Take motor insurance for example, we can expose an e-commerce site or connect using SMS technology where any individual can purchase insurance right away from anywhere they are, leveraging on our solution. We also have a particular solution that we plan to launch soon that we believe will revolutionise automobile insurance in Nigeria.