A recent survey by Cubecover says that less than 3 percent of Nigerians have active insurance plans.

The firm made this known in a recent event to improve access to insurance services in Nigeria.

The Chief Executive Officer of Cubecover, Deji Macaulay noted that the firm is ready to close the gap affecting access to insurance services in Africa’s most populous country, Nigeria.

He stated: “Insurance should be accessible to everyone, not just a privileged few. Our platform simplifies the process, making insurance easier, user-friendly, and cheap for Nigerians to get the coverage they need.”

On his part, the Chief Technical Officer of the organisation, Sam Ishie, shared results from a survey by the company that stated that less than 3 percent of Nigerians are currently insured.

He said: “This is the driving force behind the strategic partnerships Cubecover has initiated to improve insurance penetration by connecting service providers, network providers, and financial institutions.”

A panel session was put together to discuss how investors can leverage the opportunities in Nigeria’s insurance sector, consisting of leaders in the insurance, telecommunications, and finance industries, including MTN Nigeria, A’isha Mumuni, Chief Distribution Officer, AXA Mansard; Jumoke Odunlami, Head of Wealth Product, PalmPay; and Habib Kowontan.