Harboursandport.com: Lagos - Managing Director/CEO of Heirs Life Assurance, a member of the Heirs Insurance Group, Mr. Niyi Onifade, has charged the insurance regulator to adopt Heirs Insurance Group’s digital framework as the minimum industry standard to drive insurance accessibility and service quality across the country.
Onifade made this call during the panel discussion at the 2nd edition of the United Capital Securities' Insurance CEO Breakfast Forum, which was held in Lagos.
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| Mr. Niyi Onifade, right, at the CEO Breakfast Forum in Lagos |
While delivering the keynote address, the Commissioner for Insurance, Mr. Sunday Thomas commended Heirs Insurance Group for their immense contributions to the Nigerian insurance industry since entering the market in December 2020.
According to him, NAICOM has no regret
granting the operating license to the group companies. He said, “The commission is committed to supporting
every initiative that will increase insurance adoption in the country.”
He also mentioned that the
Commission under his watch is focused not just on compliance, but a wider
developmental process that will transform the entire insurance market.
Speaking at the
conference, Niyi Onifade emphasized the important role technology plays in
bringing customers closer to insurance.
He said, “We realised that
we must be digital from day one and, thus, we embraced digital tools from the
start and drove insurance education heavily through our social media platforms
and other digital channels.”
He cited the deliberate
steps the companies within Heirs Insurance Group have taken to lay a strong
digital and technology foundation for its service. Onifade further outlined how
the infusion of technology has been pivotal in revolutionising the overall
customer experience at Heirs Insurance Group saying, “We have championed
digital transformation to ensure our customers not only find insurance
accessible but also experience a level of service that aligns with their
expectations.”
Themed “Technology as a
critical driver of growth and transformation in the Nigerian insurance
landscape,” the forum had in attendance the Commissioner for Insurance, Mr.
Sunday Thomas; Group MD/CEO, United Capital plc, Peter Ashade; MD/CEO, Heirs
General Insurance, Wole Fayemi; Professor Olayinka David-West, and other
executives from the Nigerian financial industry.
Heirs Insurance Group is
the insurance subsidiary of Heirs Holdings, one of the leading pan-African
investment companies, with investments across 24 countries and four continents,
founded and led by Tony Elumelu. With a rapidly expanding retail footprint and
an omnichannel digital presence, Heirs General and Heirs Life serve both
corporate and individual customers across Nigeria.
Heirs Insurance Group is
championing financial inclusion and leading the digital insurance play in
Nigeria, demonstrating its mission to democratise access to insurance. As part
of its unique proposition, the Group rolled out digital and mobile channels to
simplify access to insurance and make insurance accessible to everyone.
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