Experts are expected to converge at the second edition of the Insurance Meets Tech (IMT) conference to Unlock policy and tech bottlenecks hindering disruptive
This second edition will build on the successes of the first and provide stakeholders with more opportunities to network, collaborate, and explore innovative solutions to the challenges facing the industry.
“Data provided by Statista in May 2023 revealed that the value of gross life insurance premiums written in Nigeria exceeded €600 million for the first time. In 2022, life insurance premiums amounted to €677.3 million, up from €545.2 million in the previous year. The growth margins can be attributed to various factors, including increased awareness of insurance products, the expansion of distribution channels, and insurance companies’ gradual adoption of technology.
These figures, he said, are, however, dwarfed in comparison to the country’s South African counterparts, where the value of gross property and casualty insurance premiums written amounted to approximately €5 billion in 2022, and P&C premiums peaked in 2021 when they reached €9.35 billion.
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