In a landmark webinar that convened some of Africa’s most innovative minds in insurance, technology, and leadership, industry experts explored the transformative power of InsurTech to redefine the insurance landscape. Hosted by Coronation Insurance Plc, the event brought together visionary leaders, including keynote speaker Enobong Ezekiel, CEO of Coreal8 Limited, and panelists Nelson Madu, CIO at Coronation Insurance; Gbenga Adigun, CEO of Scrella Technologies Limited; and Dr John Dada, Co-founder and CTO of Curacel. The session was moderated by Oluwaseyi Ibileke, Team Lead, Strategy & PMO at Coronation Insurance.
The discussions explored how mobile technology, AI, data analytics, and collaborative leadership can drive financial inclusion, close the insurance protection gap, and position Africa’s insurance industry for sustainable growth.
The Forces of InsurTech: Breaking Old Barriers
Enobong Ezekiel opened the session by framing the conversation around a central idea: InsurTech is not merely an innovation—it is a revolutionary force capable of dismantling outdated processes and creating a more inclusive, accessible insurance ecosystem.
“A revolution often arrives as a force that breaks down old thoughts, old barriers, and outdated practices. In insurance, technology is that force. It allows us to rethink distribution, product design, and customer engagement,” Ezekiel said.
She emphasized that the African insurance sector, with its 97% uninsured population, represents a massive opportunity for digital transformation. Traditional models, reliant on physical offices and human agents, are unable to reach the informal sector, smallholder farmers, and rural populations. By leveraging mobile devices, AI, and data analytics, insurers can overcome these barriers, creating direct channels to millions of potential customers.
“Every smartphone in Africa is a gateway to financial inclusion. It allows onboarding, policy management, and claims to happen in real-time, anywhere, anytime. Technology makes insurance faster, simpler, and more accessible,” she explained.
Mobile Technology: The Gateway to Financial Inclusion
A central theme of the webinar was the power of mobile technology to democratize insurance. Oluwaseyi Ibileke described mobile platforms as the “single most transformative tool” for reaching underserved populations.
“With widespread smartphone adoption, insurers can bypass traditional infrastructure and reach customers directly. People no longer need to visit offices to access financial protection,” Ibileke said.
He noted that this approach reduces overhead costs while ensuring a seamless digital onboarding experience. Customers can now initiate policies, make payments, and file claims without ever stepping into a physical branch. The mobile-first approach also enables insurers to adapt products to meet the specific needs of individual customers, ensuring relevance and affordability.
Ezekiel added that mobile technology not only extends reach but also serves as a platform for innovation. With AI-driven analytics, insurers can offer hyper-personalized products. For example, a smallholder farmer in northern Nigeria could access crop insurance designed specifically for their farm size, crop type, and risk profile—all through a smartphone app.
“Technology allows us to design products that meet the real needs of the individual. We are moving away from one-size-fits-all insurance to solutions that are personalized, scalable, and inclusive,” Ezekiel said.
AI and Data Analytics: Precision, Personalization, and Speed
The role of artificial intelligence and data analytics in transforming insurance operations was a major point of discussion. AI enables insurers to analyze risks with unprecedented precision, automate claims, and optimize product design.
Nelson Madu, CIO at Coronation Insurance, highlighted how AI has enhanced customer trust by improving speed and accuracy in claims processing.
“The underwriting process and claims crystallization are often where distrust emerges. AI and analytics allow insurers to respond to customers quickly, accurately, and transparently. This builds confidence in the insurance ecosystem,” Madu explained.
Dr. John Dada, CTO of Curacel, shared how AI-driven platforms have prevented over $400 million in losses for African health insurers by detecting anomalies and automating workflows. By reducing human intervention, AI minimizes errors and accelerates customer interactions, creating a smoother experience that fosters adoption and retention.
Gbenga Adigun of Scrella Technologies emphasized that AI also enables remote inspections, affordable coverage, and innovative products that cater to emerging market realities.
“AI allows us to scale insurance solutions to populations that were previously unreachable. From remote rural communities to urban informal sectors, technology makes insurance feasible and effective,” Adigun said.
Micro-Insurance: Reaching the Unserved
One of the most significant innovations discussed was micro-insurance, which addresses the needs of low-income populations and informal workers. Small-ticket products, tailored to specific risks, can now cover individuals who were previously excluded from financial protection.
Ezekiel cited the example of smallholder farmers, who represent a substantial portion of Africa’s population. By designing crop and livestock insurance, insurers can protect these farmers against climate risks, market volatility, and natural disasters.
“Over 15 million smallholder farmers are now benefiting from digital insurance platforms. This is a clear example of how InsurTech can expand coverage while delivering real social impact,” Ibileke noted.
Panelists agreed that micro-insurance is not just a commercial opportunity—it is a social imperative. Expanding access to financial protection fosters economic resilience and reduces vulnerability for the continent’s most disadvantaged populations.
Learning from Global Markets
The discussion drew insights from emerging markets in Latin America and the Middle East, where mobile technology, AI, and culturally aligned solutions have driven rapid growth in insurance adoption.
Ezekiel highlighted Brazil as a case study: in 2022, its insurance market reached $174 billion, growing at 11% annually. Latin American insurers have implemented open-insurance ecosystems, enabling data sharing, collaboration, and cross-sector innovation. These strategies have significantly closed protection gaps and introduced underserved populations to affordable, accessible insurance.
“There is a massive opportunity for Africa to replicate these models. With the right technology and partnerships, we can scale solutions quickly and efficiently,” Ezekiel said.
Panel Perspectives: Driving Transformation
Each panelist provided insights on how InsurTech is reshaping Africa’s insurance landscape:
Nelson Madu (Coronation Insurance): Madu highlighted the importance of end-to-end digital transformation, from onboarding to claims. He emphasized trust-building through fast, accurate, and transparent processes.
Gbenga Adigun (Scrella Technologies): Adigun discussed AI-powered smartphone insurance, emphasizing affordability and accessibility for emerging market populations. His company’s solutions aim to bridge the protection gap while driving financial inclusion.
Dr. John Dada (Curacel): Dada detailed how AI-driven platforms modernize legacy systems, preventing losses and enabling scalable operations across health and financial insurance markets.
“Insurance is not bought; it is sold. We must educate customers, demonstrate value, and earn their trust while delivering tailored solutions,” Madu said.
The Role of Coronation Insurance
Both Ezekiel and Ibileke stressed that traditional insurers must actively lead the InsurTech revolution, rather than observe from the sidelines. Coronation Insurance has committed to digital transformation, cross-industry collaboration, and customer-centric innovation.
“Expanding insurance is not only a business opportunity; it is a social responsibility. We must leverage technology, collaboration, and cultural sensitivity to close the protection gap,” Ezekiel said.
Coronation Insurance’s strategy emphasizes hyper-personalization, AI-driven automation, and embedded insurance—making coverage an invisible yet essential part of daily life. By integrating technology with cultural understanding, insurers can unlock new customer segments and ensure that coverage reaches those who need it most.
Technology-Driven Leadership and Sustainable Growth
Enobong Ezekiel’s keynote highlighted the importance of strategic leadership in driving InsurTech adoption. Her experience in banking, energy, and aviation underscores the value of cross-sector expertise in navigating complex markets and implementing scalable solutions.
“Technology alone is insufficient without strong leadership and a culture of innovation. We need leaders who can align strategy, culture, and operations to harness the full potential of InsurTech,” she said.
Ezekiel also emphasized mentorship and capacity-building, particularly for women leaders and emerging professionals. By fostering talent and encouraging innovation, leaders can ensure that the benefits of digital transformation reach all levels of the industry.
Future Trends: Hyper-Personalization, Agentic AI, and Embedded Insurance
The panel agreed that three trends will define the insurance sector in the coming decade:
Hyper-Personalization: Products must align with individual lifestyles, behaviors, and real-time needs, moving away from generic offerings that fail to attract customers.
Agentic AI: Virtual assistants and AI systems can handle complex tasks, minimizing human intervention while enhancing speed, accuracy, and customer experience.
Embedded Insurance: Insurance must become seamlessly integrated into everyday services, providing protection in an unobtrusive yet essential way.
“These trends democratize insurance, making it affordable, relevant, and accessible to populations that were previously excluded,” Ibileke said.
Closing the Protection Gap
The discussion culminated with a call to action: insurers, regulators, and technology innovators must collaborate to close Africa’s insurance protection gap. With 70 billion people unserved and insurance penetration below 1%, the potential for growth is immense.
“We must harness technology, invest in digital infrastructure, and foster collaboration to ensure that every African has access to financial security,” Ezekiel emphasized.
Panelists echoed this vision, stressing that financial inclusion is both a business imperative and a social responsibility. By leveraging InsurTech, Africa can build a resilient, equitable, and sustainable insurance ecosystem.
Conclusion: A Path Forward for Africa’s Insurance Industry
The webinar highlighted that Africa is at a pivotal moment. Technology, leadership, and collaboration are converging to redefine insurance for the continent’s diverse populations. By embracing mobile platforms, AI, hyper-personalization, and embedded insurance, insurers can transform financial protection from a niche offering to a mainstream, inclusive service.
Enobong Ezekiel’s keynote, combined with insights from panelists Nelson Madu, Gbenga Adigun, Dr. John Dada, and moderated by Oluwaseyi Ibileke, demonstrated that Africa’s insurance revolution is not theoretical—it is happening now.
“The opportunity before us is immense. By leveraging technology and leadership, and by committing to collaboration and inclusion, we can close the protection gap, expand access, and transform lives,” Ibileke concluded.
This webinar underscores the importance of InsurTech as a driver of economic development, financial inclusion, and social impact, and positions Africa’s insurance sector as a global frontier for innovation and growth.
Discover how InsurTech is transforming Africa’s insurance sector. Coronation Insurance and Coreal8 CEO Enobong Ezekiel explore mobile, AI, and leadership strategies to expand access, close protection gaps, and drive inclusive financial growth.
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