An underwriter, Universal Insurance Plc, has identified digital innovation as a key driver of its 2026 growth strategy with plans to expand product offerings and strengthen operations.

The Managing Director/ Chief Executive Officer, Japhet Duru, outlined this as part of his New Year’s message. He said the strategy was designed to enhance customer experience, deepen market relevance and support top-line growth in a rapidly evolving industry.

According to Duru, the insurer will focus on upgrading its digital capabilities to simplify customer engagement, improve service efficiency and reduce turnaround time in claims processing.

He said the underwriter remained committed to reinforcing its operational capacity in 2026, noting that professionalism, integrity and prompt settlement of genuine claims would continue to underpin its relationship with policyholders.

Urging staff to remain aligned with the company’s core values, he stressed that delivering reliable and differentiated services was critical in an industry where confidence and credibility remain key challenges. Reflecting on the company’s performance in 2025, Duru said the company recorded notable milestones, including the expansion of its product portfolio, improvements in digital service delivery, and a stronger presence in selected markets.

On the ongoing insurance recapitalization, Duru said Universal is taking steps to ensure compliance with regulatory requirements, adding that the economy would continue to expand its footprint and relevance within the market. Commenting on the development, a policyholder in the industry, Adebayo Ogunseye, noted that digital transformation is becoming increasingly central to insurers’ growth strategies, particularly as regulators push for stronger capitalisation, improved governance, and better service delivery.

Technology-driven platforms, they say, offer insurers an opportunity to lower operating costs, improve transparency, and extend insurance coverage to underserved segments of the population. As the sector navigates regulatory reforms and economic pressures, firms that successfully integrate digital innovation with sound capital management and customer-focused products are expected to be better positioned to compete and grow in Nigeria’s evolving insurance landscape.