VERITAS KAPITAL MD CHARTS PATH TO BOOST INSURANCE PENETRATION IN NIGERIA

The Managing Director of Veritas Kapital Assurance Plc has outlined strategic measures aimed at increasing insurance penetration across Nigeria.

Speaking at a recent industry event, the MD emphasised the need for innovative products, digital transformation, and enhanced public awareness to make insurance more accessible and relevant to the average Nigerian. He noted that current penetration levels remain low despite the sector’s potential to support economic resilience.

The executive highlighted plans to leverage technology for simplified policy purchase, faster claims processing, and better customer engagement. He also called for stronger collaboration between insurers, regulators, and other stakeholders to address barriers to wider adoption.

Veritas Kapital remains focused on developing tailored solutions for different market segments, including SMEs, individuals, and corporate clients. The company believes that improved education on the benefits of insurance will play a crucial role in driving growth.

Industry observers welcomed the roadmap, describing it as a positive contribution to the ongoing efforts to deepen insurance coverage and strengthen the sector’s role in national development.