Voices streaming from the insurance market is gathering momentum and reverberating across the insurance space and landing in trade bodies decision rooms from where the push to go for digital transformation and stretch to embrace GenAI as the weapons is urgent. The quest to escalate insurance penetration that has been holed down in the dryland of low penetration is a major driving force.
This thinking is part of the strategic focus of the Chairman of the Nigerian Insurers Association NIA, Kunle Ahmed who muted it first at the annual general meeting of the Institute of Loss Adjusters of Nigeria ILAN where he said his term will position the NIA to embrace AI and digital transformation and, it would be a clear departure from the “current foot dragging” in the sector.
Etching his strategic move on marble Ahmed said, “in my tenure one of my main cardinal points is that we need to embrace AI, embrace digital technology and I would need ILAN to look at that aspect.” Pushing it further he said, “There are areas of your job that you can enhance by deploying some form of technology.”
Admitting that the cost would be expensive for a singular firm and discouraging, he said it should be approached as a body. “One thing about innovation is that if each company try to go it alone it will be too expensive but if as a body you come together perhaps those things might be easier to do.”
Noting that enhancing service applied to insurers too, NIA Chairman said, “It doesn’t apply to loss adjusters alone but even for insurers. There are areas we need to improve technology wise that we are currently foot dragging and in my tenure one of main cardinal points is that we need to embrace AI, embrace digital technology.”
Harping on this at the media unveiling, he reiterated what has been the reoccurring response of the sector to digital solutions. “Our sector has historically been slow to adopt digital solutions. Moving forward, embracing digital innovation will be essential. We plan an innovation challenge to invite solutions that that streamline our processes and enhance customer experience.”
Ahmed said the route to take to get to the mountain top of digital transformation would be by collaborating with tech partners. “By collaborating with technology partners, we can reduce costs and improve service delivery, making insurance more accessible to all Nigerians.”
