The curtains may have closed on the fourth edition of the Insurance Meets Tech (IMT) Conference, but the conversations it sparked continue to reverberate across boardrooms, tech hubs, and policy circles. With the theme “Innovating for the New Trybe,” this year’s edition reaffirmed IMT’s reputation as West Africa’s foremost stage for reimagining insurance through technology, creativity, and cultural relevance.
From its inception, IMT has stood out as a gathering where CEOs, regulators, innovators, and cultural voices converge to shape the direction of an industry in urgent need of transformation. The 2025 edition was no exception—except it was bigger, bolder, and more disruptive.
Convener’s Vision: IMT as a Catalyst for Change
Ahead of the event, Odion Aleobua, Convener of IMT and CEO of Modion Communications, expressed his excitement about what the platform represents for the industry.
“Insurance Meets Tech has always been about pushing boundaries,” Aleobua said. “This year, with the blend of IMT 4.0 and Redefined 2.0, we wanted to ensure that insurance is not just discussed in the boardroom but made relevant to the young hustlers, freelancers, and coders who represent the New Trybe. It’s about sparking solutions that are practical, inclusive, and designed for the realities of today’s Africa.”
Aleobua’s remarks set the tone for a conference that married strategic conversations with youthful energy, creating a unique space for disruption and dialogue.
IMT’s Dual Structure: Boardroom Meets Hustler Energy
The conference unfolded in its signature dual format:
IMT 4.0 gave the C-Suite and policymakers a platform to discuss pressing themes of growth, trust, and digital transformation.
IMT Redefined 2.0 was built for the New Trybe—a generation of freelancers, coders, hustlers, and young professionals. With its upbeat, interactive design featuring games, challenges, and prize-driven engagements, Redefined 2.0 turned serious insurance conversations into an accessible, memorable experience.
It wasn’t just talk. It was a collision of worlds—where the seriousness of risk management met the vibrancy of digital culture.
Bode Pedro: AI Brings Efficiency, Not Trust
Among the standout voices was Bode Pedro, Founder and CEO of Casava Inc., Nigeria’s first 100% digital insurance company. A Harvard Business School graduate with a degree in Computer Science, Pedro has over 15 years of experience building technology-enabled ventures.
Casava’s rise, powered by a record-breaking $4 million pre-seed funding in 2022, positioned Pedro as a natural fit for IMT’s central conversation. His message was sharp:
“AI can deliver efficiency, but it cannot deliver trust. Customers still want to know who stands behind their policies.”
Pedro’s words struck a chord, reminding participants that while artificial intelligence is redefining the future, it cannot replace the human values—trust, empathy, and leadership—that keep insurance credible.
Betting vs Insurance: A Cultural Wake-Up Call
Perhaps the most sobering moment of IMT 2025 was the comparison between betting and insurance. With data from the Nigeria Lottery Trust Fund showing that 14 million Nigerians place bets daily, averaging $10–$15 each, panelists pointed to a paradox: Nigerians embrace betting for the hope, instant reward, and entertainment it provides, while often neglecting insurance.
“Insurance feels abstract, but betting feels like fun and possibility,” one panelist noted. The takeaway? Insurance must be reframed to deliver not just protection, but also a sense of value, experience, and reward—especially for younger demographics.
Capital, Regulation, and the Investor Shift
Discussions also spotlighted the capital requirement dilemma. While strong capitalization is key to safeguarding policyholders, many warned against regulatory thresholds that stifle startups before they can innovate.
The solution, participants agreed, lies in decoupling innovation from capital provision: allowing startups to design products while larger institutions and investors provide the financial backbone.
Data from the African Venture Capital Association underscored the challenge: of the $2 billion in VC funding invested in Nigerian startups over the last five years, only $20 million went into insurance. “Talent is abundant, but capital determines performance,” Pedro warned.
Shifting Investor Expectations
Speakers also reflected on how venture capital dynamics are evolving. In today’s market, investors are demanding sustainable, leaner models instead of “growth at all costs.”
This means startups and established firms alike must rethink their strategies, weaving in gamification, customer rewards, and digital-first experiences to stay relevant and resilient.
Nigeria’s Emerging Regional Role
Despite challenges, the mood at IMT 2025 was one of optimism. With its youthful population, vibrant entrepreneurial ecosystem, and growing institutional reforms, Nigeria is positioning itself as a future leader in insurance innovation across Africa.
“In the next 10 years, Nigeria will not only transform its own insurance sector but also begin investing in insurance companies across Africa,” Pedro predicted.
The Takeaway
Looking back, IMT 2025 was more than an industry conference—it was a cultural reset for insurance. It showed that success lies in marrying innovation with trust, making insurance relatable to the New Trybe, and bridging the gap between regulation, capital, and inclusion.
For Odion Aleobua, the vision of IMT is clear: “Our goal is to keep challenging the industry to evolve, to listen, and to innovate in ways that truly resonate with Africa’s next generation.”
As Lagos played host to this landmark edition, one message rang clear: the new trybe of insurance is digital, inclusive, and unstoppable.
Insurance Meets Tech 2025 in Lagos gathered CEOs, innovators, and young professionals to chart Africa’s insurance future. Bode Pedro and Odion Aleobua led calls for trust, inclusion, and innovation.
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