PalmPay, one of Africa’s leading digital banking platforms, has announced strategic partnerships with top insurance providers to offer affordable and easy-to-use insurance products directly through its mobile app.
This move reinforces PalmPay’s commitment to expanding financial inclusion and improving the wellbeing of everyday Nigerians.
Currently, only around 8.9% of Nigerians have any form of health insurance, placing the country among the least insured in Africa. Limited awareness, affordability, and trust issues continue to hinder wider adoption of insurance services.
PalmPay aims to tackle these challenges by integrating insurance options—ranging from health and life coverage to device protection—directly within its app. The new feature is designed to remove complexity and lower the cost of entry, making insurance more accessible for millions.
“Insurance is often seen as complicated or out of reach, especially in underserved communities,” said Habib Kowontan, Head of Wealth Product at PalmPay. “With these partnerships, we’re making coverage simple, reliable, and affordable—all within the PalmPay app.”
With over 35 million users in Nigeria, PalmPay is rapidly evolving beyond basic digital payments. Its offerings now include money transfers, bill payments, high-yield savings, debit cards, and now, insurance—positioning it as one of the most comprehensive fintech platforms on the continent.
“Our mission is to eliminate barriers and make essential financial services available to everyone,” said Chika Nwosu, Managing Director of PalmPay. “This insurance rollout is a major step forward in helping users protect themselves and their assets while managing their finances more effectively.”
The launch marks a key milestone in PalmPay’s vision of becoming not just a payments app, but a trusted financial partner for millions of Nigerians.
