Nigerian Insurers Association launches Innovation Lab to drive industry transformation
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The Nigerian Insurers Association (NIA) has officially launched its 2025 Innovation Lab, a groundbreaking initiative aimed at redefining the future of insurance in Nigeria through technology and collaboration.
The event, held at the Insurers House in Victoria Island, Lagos, was attended by key stakeholders including members of the NIA Governing Council, CEOs of member companies, tech partners, and industry leaders.
In his address, the Chairman of NIA, Mr. Kunle Ahmed, expressed delight in delivering on a promise he made at his inauguration in October 2024 to champion digital innovation within the insurance sector.
He described the Innovation Lab as more than a physical facility, but a movement designed to foster creativity, test cutting-edge technologies, and develop solutions tailored to the Nigerian insurance landscape.
“Innovation is not a luxury; it is a necessity,” Mr. Ahmed said. “This lab represents our commitment to leadership and transformation. It is where the future of insurance will be imagined and built.”
Highlighting the demographic shift in Nigeria with a median age of 18 years, Mr. Ahmed noted the urgent need for the insurance industry to become more agile, inclusive, and digitally driven to meet the expectations of a youthful, tech-savvy population.
He emphasized the potential of emerging technologies such as artificial intelligence, blockchain, and data analytics in enhancing efficiency, trust, and accessibility.
Mr. Ahmed acknowledged the support of key partners, including AXA Mansard Insurance Plc, AIICO Insurance Plc, the NIA Advisory Committee on Digital Innovation & IT, and strategic partner Impact Hub Lagos, for their dedication to the success of the initiative.
He also called on the regulators, tech partners, and member companies to work collaboratively to invest in and embrace this new chapter in the industry’s evolution.
“The future begins now, and it begins here,” he added.
