Capital Express Life Assurance Drives Future with Innovation and Trust

In a country where insurance has too often been dismissed as complicated, distant, or even irrelevant, Capital Express Life Assurance is rewriting the script with a story of innovation anchored in trust and determination to prove that insurance in Nigeria can be simple, transparent, and deeply human, writes Ebere Nwoji

As Nigeria’s insurance sector braces for sweeping reforms under the forthcoming Nigeria Insurance Industry Reform Agenda (NIIRA 2025), signed into law by President Bola Ahmed Tinubu on August 5, 2025, industry leaders are stepping up with bold visions that match the ambition of the regulatory overhaul.

Among them is the Managing Director and Chief Executive Officer of Capital Express Life Assurance Limited, Mr. Mathew Ogelenya Ogwezhi, who is charting a transformative course for his company. His mission is clear: to align with the reform’s objectives while carving out a unique space for Capital Express Life Assurance as a customer-first, digitally powered life insurance provider.

NIIRA 2025 places recapitalisation at the centre of reform, raising minimum capital to N10billion for life insurers, N15billion for general, N25billion for composites, and N35billion for reinsurers, all within a 12-month window. But beyond higher figures, it ushers in risk-based capital, tougher asset checks, and stronger governance. For Ogwezhi, this isn’t just about meeting a deadline; it is a chance to show resilience, build public trust, and reset how Nigerians see insurance.

Ogwezhi’s vision speaks directly to longstanding challenges within Nigeria’s insurance ecosystem. Despite a population of over 200 million, insurance penetration in Nigeria remains under two per cent, one of the lowest in Africa. Low awareness, mistrust, and complex products have historically limited uptake. To change this, insurers must rethink how they engage with Nigerians, bridging the gap between technical solutions and human needs.

Under Ogwezhi’s leadership, Capital Express Life Assurance is positioning itself as one of the frontrunners of this change, blending digital transformation, operational efficiency, and renewed customer trust.

Appointed in 2024 by the Board as Managing Director/CEO, Ogwezhi’s story is one of grit and steady progression. His career at Capital Express reflects a deep understanding of the business from multiple perspectives.

Starting humbly as PA to the MD/CEO and Media Affairs Officer, he went on to serve in critical roles: Head of Branch Operations, Regional Director, and Deputy General Manager overseeing Marketing, Sales, and Distribution. Each stage of his rise gave him frontline experience in the realities of Nigeria’s insurance business, from the intricacies of branch management to the complexities of market expansion.

This journey has not only equipped him with operational competence but has also shaped his leadership philosophy. His approach emphasises resilience, hands-on understanding, and building high-performing teams. Today, he leads Capital Express Life Assurance with the confidence of someone who knows the business inside out, because he has walked nearly every path within it.

Ogwezhi’s career is marked by bold initiatives that expanded the strong presence of Capital Express. Domestically, he spearheaded the establishment of new branches in Jos, Kano, Warri, Onitsha, and Aba, extending the company’s presence into regions that had been undermined by mainstream insurers.

Internationally, he played a pivotal role in pushing the Capital Express Assurance brand beyond Nigerian borders, helping establish offshore operations in Ghana, Liberia, Gambia, Sierra Leone, and Kenya.

Perhaps one of his standout contributions was pioneering the life insurance scheme for undergraduates across Nigeria’s tertiary institutions. This initiative broke new ground by embedding financial protection within the education sector, a space where insurance was previously absent. The project not only safeguarded families but also demonstrated the company’s commitment to innovation and inclusivity.

Now at the helm, Ogwezhi is spearheading what may prove to be his most ambitious project yet: a complete digitization of the company’s operations. From underwriting to claims management, the company is overhauling legacy systems and replacing them with platforms designed for speed, transparency, and efficiency. Claims processing, often the Achilles’ heel of insurance in Nigeria, is being transformed into a seamless, customer-friendly experience.

Ogwezhi’s digital-first approach includes CLARA (Capex Life Assurance Response Assistant), the company’s new virtual assistant. Unlike conventional chatbots, CLARA is built with AI-powered interactivity, capable of multilingual conversations in English and major Nigerian languages. This makes insurance accessible to a broader audience, breaking down jargon and simplifying processes.

“CLARA is built to demystify insurance,” he explains. “Whether you’re a young professional, a parent, or a business owner, CLARA can guide you through products and even recommend solutions that fit your lifestyle and financial goals.”

By embedding artificial intelligence into customer engagement, Capital Express Life Assurance is signalling a decisive move toward personalised insurance solutions. CLARA learns from interactions, adapting over time to provide tailored recommendations that reflect real-world needs.

While technology is a key driver, Ogwezhi is quick to highlight that digital tools must be backed by credibility.

“Technology is only as powerful as the trust behind it,” he emphasises. “Our responsibility is to assure Nigerians that insurance is not a gamble, but a guarantee of security.”

In an industry often viewed with skepticism, this emphasis on trust and transparency is critical. By combining AI-driven convenience with prompt claims settlement and clear communication, the company is working to rebuild confidence among Nigerians who may have been hesitant about insurance in the past.

The NIIRA 2025 reforms are expected to reshape Nigeria’s insurance landscape significantly. With goals such as deepening insurance penetration, improving consumer protection, enhancing digital adoption, and boosting financial inclusion, the agenda places heavy demands on insurers.

For Capital Express Life Assurance, the reforms align perfectly with its current strategy. By focusing on digitisation, inclusivity, and customer-centricity, the company is not only preparing to comply with new regulations but is also seeking to lead industry transformation.

Looking forward, Capital Express Life Assurance is signaling its intent to grow beyond conventional models of insurance. Plans are underway to expand product offerings tailored to different demographics, from Gen Z professionals just entering the workforce to retirees seeking financial stability. Strategic collaborations with fintechs are also on the horizon, aimed at delivering insurance in ways that are frictionless, digital-first, and lifestyle-oriented.

Under the leadership of Ogwezhi, the company is charting a course that blends technology, accessibility, and trust, redefining what it means to be an insurer in Nigeria today.