AXA Mansard Insurance Plc, a member of AXA Group, a global insurance and asset management, said it planned to deepen insurance coverage in Nigeria through the launch of its insurtech accelerator initiative tagged, ‘The Innovation Exchange Programme’.

It said in a statement that the programme was designed to assist development of insurtech solutions, grow them, commercialise and scale them in ways that could aid seamless distribution, claims management, technical underwriting, customer management, and payment for insurance services across different segments of the market.

The Chief Client Officer of the company, Rashidat Adebisi, said the programme was designed to leverage the years of experience, expertise, and capabilities that AXA Mansard had built to empower insurtechs around the country through incubation, growth, and scale circle.

She said, “The new programme represents another milestone in continued commitment to our purpose of acting for human progress by protecting what matters. We are convinced that the success of this programme will raise the profile of our industry, make insurance protection available to more people, address some of the cultural perceptions about Insurance, and ultimately distribute wealth through employment that our cohorts will create.”

Commenting on the programme, the Chief Digital Innovation Officer, Bayo Adesanya, said the Innovation Exchange Programme was another way AXA Mansard was accelerating insurance with digital transformation.

Adesanya said, “Currently, we are enabling several insurance and fintech organisations. We have developed amazing solutions with these ecosystem partners and continue to look for opportunities to do more.”

“The solution is also another opportunity, and we are excited about the possibilities. Our conviction is that insurance plays a critical role in the economy and must be driven via both physical and digital partnerships. Unfortunately, the insurtech space is not as developed as its other cousins in fintech, healthtech and others. So, this is our way of increasing the number of tech businesses providing solutions for Insurance.

“We will be offering the partners selected through this exchange our mentorship, guidance and potentially a platform to launch. We look forward to a great, mutually beneficial and innovative relationship with all of them.”