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Insurance plays a critical role in protecting individuals and businesses from unexpected financial shocks, yet adoption across emerging markets remains significantly low. In Africa, nearly 97% of the population remains uninsured, while insurance penetration across many emerging economies averages only 2.9%. This protection gap leaves millions vulnerable to risks such as accidents, health emergencies, property loss, or business disruption.
In a recent Insurtech Webinar hosted by Coronation Insurance Plc titled “How Insurtech Is Changing Insurance Adoption in Emerging Economies,” industry experts explored how technology is transforming insurance accessibility and helping insurers reach underserved populations.
Delivering the keynote presentation, Enobong Ezekiel, Chief Executive Officer of Coreal8 Limited, highlighted how traditional insurance models have struggled for decades to reach large segments of the population due to low awareness, limited trust, and operational inefficiencies.
“Technology is dismantling the barriers that once limited insurance access. Through mobile platforms, data analytics, and artificial intelligence, insurance can now be simpler, faster, and more accessible to people who previously had no access to financial protection,” she explained.
The webinar’s engaging panel discussion, moderated by Oluwaseyi Ibileke, Team Lead, Strategy and Project Management Office, Coronation Insurance Plc, featured insights from Nelson Madu, Head of Information Technology, Coronation Insurance Plc; Gbenga Adigun, Chief Executive Officer of Scrella Technologies Limited; and Dr. John Dada, Co-founder and Chief Technology Officer of Curacel.
Nelson Madu emphasized the growing importance of digital infrastructure in transforming the insurance industry. He explained that technologies such as AI-driven underwriting, digital onboarding platforms, and mobile-based services are helping insurers simplify the customer journey, reduce operational friction, and expand access to insurance products.
Sharing the perspective of an insurtech innovator, Gbenga Adigun, CEO of Scrella Technologies Limited, discussed how technology-driven platforms are enabling insurers to design more accessible and affordable products. Drawing from his experience building smartphone insurance solutions, he explained that digital tools make it possible to deliver insurance services without the traditional barriers of physical locations or lengthy paperwork.
Adding to the discussion, Dr. John Dada, Co-founder and Chief Technology Officer of Curacel, spoke about the role of artificial intelligence in transforming claims management and reducing fraud across the insurance ecosystem.
He explained that AI-powered platforms can help insurers detect anomalies, process claims faster, and reduce operational losses, ultimately strengthening trust between insurers and customers.
“Technology must not only make insurance faster but also more transparent and fair. When customers see that claims are processed efficiently and accurately, it builds confidence in the system,” he said.
The webinar provided valuable insights into how emerging technologies are reshaping the insurance landscape and creating new opportunities to close the protection gap across emerging economies.
Through initiatives like this webinar, Coronation Insurance Plc continues to reinforce its commitment to innovation, customer education, and thought leadership, demonstrating how technology can help drive greater insurance adoption and deliver more inclusive financial protection for individuals and businesses.
Watch the full webinar here
For more information about Coronation Insurance solutions and future thought leadership sessions, email us at info@coronationinsurance.com.ng or call 02-01-2275475 | 02-01-2275476.
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