The Nigeria Insurers Association (NIA) on Monday launched a technology-driven hub known as the NIA Innovation Lab, a facility designed to accelerate digital adoption and reshape insurance practice in the country.
The launch, held at the Insurers’ House, Saka Tinubu, Victoria Island, Lagos, comes barely two weeks after Insurtech firms formally commenced operations in line with new guidelines issued by the National Insurance Commission (NAICOM).
Speaking at the event, NIA Chairman, Mr. Kunle Ahmed, described the Innovation Lab as a milestone in repositioning the insurance industry for a technology-driven future. He recalled making a commitment during his inauguration in October 2024 to promote digital transformation within the sector, including setting up an innovation challenge to foster fresh solutions.
“The lab will serve as a hub where ideas are nurtured, technologies tested, and scalable solutions developed specifically for the Nigerian market,” Ahmed said.
Also speaking, the Chairman of the NIA Advisory Committee on Digital Innovation and IT, Mr. Babatunde Fajemirokun—who is also the Managing Director of AIICO Insurance Plc—shared insights from a survey conducted by the association. The findings, he said, identified key challenges within the sector and guided the areas of focus for the lab.
The NIA Innovation Lab is expected to serve as a collaborative space for insurers, technology firms, and innovators to co-create solutions that will deepen market penetration, improve customer experience, and enhance operational efficiency in the Nigerian insurance industry.
