From Ighomuaye Lucky, Benin


The Acting Managing Director, Prudent Choice Micro Insurance Limited, Mrs Gloria Onosolease, has said that the launch of its indigenous micro insurance software, named Insuretech, will help boost customers’ confidence and ensure accountability in the sector.

She disclosed this during the official launch of the software in Benin.

Onosolease said the achievement will significantly shape the nascent micro-insurance landscape in Nigeria and indeed, across the African continent.

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She said the newly developed software heralds a pivotal advancement in enhancing customer interaction and satisfaction, while concurrently optimizing their internal operations to foster efficiency.

She added that in a fiercely competitive industry such as insurance, embracing technology is indispensable to their continuous success and sustainability.

She said that the micro insurance sector in Nigeria, particularly in Edo State, is undergoing a phase of unprecedented growth with a population exceeding five million people where a substantial portion of which is engaged in low income and medium-sized enterprises spanning rural, urban and semi-urban areas.

She said due to this, there exists an urgent demand for accessible and inclusive insurance solutions but regrettably, this demographic has long been underserved and marginalized in terms of insurance protection.

She further said that with the launch of Insuretech, it would help mitigate the financial risks encountered by low-income earners and small to medium scale enterprises.