AXA Mansard Insurance Plc said it has entered into a partnership with Techpoint Africa, a youth-centric tech company, to enable more start-ups get captured in the insurance
space through the use of technology. Speaking in Lagos at the 2018 edition of ‘Techpoint Build’, an annual
business conference and exhibition, with the theme ‘Building for the Next Billion Users,’ the Chief Digital Officer, AXA Mansard Insurance, Mr Bayo Adesanya, said the partnership was aimed at raising Nigeria’s insurance coverage beyond its current one per cent.
Adesanya, also said the AXA Mansard chose to be among the sponsors of the conference to show its commitment to support tech firms and the insurance industry in Nigeria.
He said: “Nigeria has a huge youth population, which is about 60 per cent of our population and most of them are under 30 and doing great things with technology. 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 in a technology-driven way.”
He described the conference as a veritable platform
which the company would leverage to convey its message across various
businesses and tech entrepreneurs, who are largely youths.
According to him, technological disruption in insurance had begun in
advanced climates; insurance is going digital and technological
solutions are used to deepen penetration.
Also, speaking, the Founder/Chief Executive Officer, Techpoint Africa, Mr
Adewale Yusuf, said the conference was borne out of the need to
support start-ups and small businesses with necessary skills to develop
a profitable business.
“For years, my team and I have documented the journey of start-ups 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,”
Yusuf, also pointed out that technology was having a huge
disruptive effect on businesses, health and even on human existence,
advising that we need to get ourselves abreast of the evolving trends.