By Bavoriat Clara
The Nigerian Insurers Association (NIA) has unveiled its 2025 Innovation Lab, a bold step towards redefining the future of insurance in Nigeria through technology, creativity, and collaboration.
The launch event, held at the Insurers House in Victoria Island, Lagos, brought together major industry stakeholders, including members of the NIA Governing Council, chief executives of member companies, technology partners, and industry leaders.
In his keynote address, the Chairman of NIA, Mr. Kunle Ahmed, expressed satisfaction at fulfilling a promise he made during his inauguration in October 2024 to champion digital innovation within the insurance sector. He stressed that the Innovation Lab was not just a facility but a movement aimed at fostering creativity, experimenting with emerging technologies, and developing solutions tailored to the Nigerian market.
“Innovation is not a luxury; it is a necessity,” Mr. Ahmed declared. “This lab represents our commitment to leadership and transformation. It is where the future of insurance will be imagined and built.”
Highlighting Nigeria’s youthful demographics, with a median age of 18, he underscored the need for the industry to evolve into a more agile, inclusive, and digitally driven ecosystem capable of meeting the expectations of a tech-savvy generation. He pointed to artificial intelligence, blockchain, and data analytics as critical tools to improve efficiency, deepen trust, and broaden access to insurance services.
The NIA Chairman acknowledged the contributions of key partners and urged regulators, technology firms, and member companies to collaborate actively, invest resources, and embrace this new chapter in the industry’s evolution.
“The future begins now, and it begins here,” he affirmed.
Delivering a presentation on the inaugural survey titled “State of Insurance Innovation in Nigeria 2025”, the Chair of the NIA Innovation Committee, Mr. Tunde Fajemirokun, disclosed that the survey engaged 45 senior industry leaders, including 22 chief executives, 10 chief technology officers, and 13 heads of strategy across life, general, and microinsurance companies.
According to him, the survey findings reveal an industry increasingly ready for innovation, with 87 percent of executives indicating willingness to collaborate on shared solutions and 69 percent expressing readiness to commit resources in 2025.
“Their voices, captured here, highlight where the industry must focus and how collaboration can unlock transformation,” Mr. Fajemirokun noted.
The launch of the NIA Innovation Lab is expected to serve as a catalyst for digital transformation in Nigeria’s insurance sector, positioning it to meet global standards while adapting to local realiti
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