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Insurer boosts market penetration through digital channels

By Bankole Orimisan
27 September 2021   |   4:00 am
Old Mutual West Africa has revealed plans to increase the Nigerian insurance market’s penetration with new technology to maximise opportunities in the market.

Old Mutual West Africa has revealed plans to increase the Nigerian insurance market’s penetration with new technology to maximise opportunities in the market.

At a briefing in Lagos, the Group Chief Executive Officer, Old Mutual West Africa, Samuel Ogbu, said the step is a confirmation of the company’s commitment to growing Nigeria’s financial sector and the Nigerian economy.

“Having been in Nigeria for over seven years, Old Mutual is committed to playing an active role in revitalising Nigeria’s insurance industry. We are reshaping the business to truly reflect our brand in a market whose immense potential has still not been fully realised. We believe we have an important part to play in bringing better value and enhancing the experience of Nigerians,” he said.

The Managing Director, Life Assurance, Old Mutual Nigeria, Olusegun Omosehin, said: “We are excited about the next decade of growth and innovation in Nigeria because we believe in the prospect of the insurance sector, especially with the various reforms and introduction of the micro-insurance market through technology.

“This has inspired and accelerated our efforts to simplify and digitalise our end-to-end customer experience, making it more personalised and targeted, tech-enabled, fast, simple and responsive.”