The Chief Distribution Officer at AXA Mansard Insurance Plc, Jumoke Odunlami, has emphasized the crucial role of technology and artificial intelligence (AI) in driving insurance adoption in Nigeria.

Speaking at the Ambassadors Project on Insurance Awareness at Lagos State University (LASU), Odunlami highlighted how digital innovations can enhance accessibility, improve trust, and accelerate the growth of the insurance sector. The event was organized by the Chartered Insurance Institute of Nigeria in collaboration with LASU’s Insurance Department.

“Sometimes, understanding comes from experiencing a product. When you use it, you appreciate its value. Technology provides that level of access,” she stated.

She noted that AXA Mansard, through partnerships with telecom and fintech companies, has been able to reach over 1.5 million Nigerians with microinsurance products. These customers, who might not have traditionally considered insurance, now access coverage through USSD codes and savings apps, demonstrating the potential of digital solutions.

AI as a Game-Changer in Insurance

Beyond accessibility, Odunlami stressed that AI will play a transformative role in boosting customer satisfaction and sustaining trust in the sector.

“We recognize that trust in insurance remains fragile. If we reach more people but fail to fulfill our promises, we risk losing their confidence. However, AI can help us personalize experiences, enhance customer service, and speed up claim processing. That will be a game-changer, and it is an area the industry must invest in,” she said.

She also emphasized the importance of public education in addressing trust issues, noting that while many Nigerians are aware of insurance, skepticism about claims settlement remains a major barrier to adoption.

“The challenge isn’t just awareness—people understand that insurance is important. The real issue is trust. To change this, we must truly understand consumers’ needs and offer solutions that address them,” she explained.

Call for Innovation and Digital Transformation

Encouraging students to see themselves as future leaders of the insurance industry, Odunlami highlighted the need for continuous innovation and digital transformation to improve Nigeria’s low insurance penetration.

“The future of our industry will be shaped by those who champion innovation,” she said. “This transformation will create a more resilient and inclusive insurance ecosystem.”

The event provided a platform for industry leaders to engage with LASU students, offering insights into the evolving landscape of insurance. Other key speakers included the Managing Director/CEO of Consolidated Hallmark Insurance, Mary Adeyanju, as well as representatives from Sovereign Trust Insurance, Dayo Amusa and Simeon Mensah.