AXA Mansard partners Techpoint to deepen insurance coverage above 1 percent

AXA Mansard Insurance Plc has disclosed that its partnership with Techpoint is aimed at deepening the country’s insurance coverage beyond its current one per cent.

The Chief Digital Officer, Mr Bayo Adesanya made this disclosure during the Techpoint Build Conference, held recently in Lagos.

Adesanya said that the collaboration with Techpoint Africa will further enhance insurance penetration among tech entrepreneurs and youths.

“Majority of the country is not well represented in the insurance or non-banking financial services space because coverage for insurance in the country is below one per cent.

“We feel that If we are going to address that and spread the benefits that come from the services of that sector, it is important to engage youths and in a technology-driven way.

“Nigeria has a huge youths population, which is about 60 per cent of our population and most of them are under 30 and doing great things with technology,” the officer said.

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Adesanya said the firm had set up a team that was dedicated to e-commerce and digital transformation and intends to use various digital channels to reach as many people as possible.

“Technological disruption to insurance have begun in advanced climates; insurance is going digital and technological solutions used to deepen penetration.

“We understand the role that technology plays and we intend to use it to take our services beyond the traditional insurance.”

Speaking also, Founder, Techpoint Africa, Mr Adewale Yusuf said that the conference was borne out of the need to support startups and small businesses with necessary skills to develop a profitable business.

“For years, my team and I have documented the journey of startups and SMEs in Nigeria and Africa and discovered that the problems attributed to businesses were the same.

“We have brought experts, founders in different fields to help businesses understand the intricacies of having and building a successful business in Africa.

“Technology is having a hugely disruptive effect on businesses, health and even our existence, we need to get ourselves abreast with the evolving trends,” he said.

Yusuf said that the SME/Startup Clinic session of the programme would rejuvenate startups with diagnostic advice from advisors and assist them to unlock their potentials for economic growth.