From left: President Africa Insurance Women Association, Lady Margaret Moore; Chairman Local Organising Committee AIWA Conference, Mrs. Ebelechukwu Nwanchukwu;
Keynote Speaker, Dr. Awele Elumelu and Board Chairperson, National Insurance Commission, NAICOM, Hajiya Halima Kyari, at the event.
BY NKECHI NAECHE ESEZOBOR— Chairperson, Heirs Insurance Brokers & Avon Healthcare Limited, Dr. Awele Elumelu, has identified digital Innovation and financial inclusion, micro insurance and Public Private Partnership as opportunities for operators to leverage upon to deepen insurance penetration in Africa.
Speaking while presenting her Keynote Paper titled: ‘The Future of Insurance: Trends, Challenges and Opportunities’, at the Inaugural Conference of Africa Insurance Women Association(AIWA), hosted by Nigeria, she stated that globally, one of the most powerful forces reshaping insurance is digital innovation and new-age technological advancements.
According to her Africa’s youthful population, with a median age of just 19 years, is particularly promising for digital-first insurance products.
“This generation is not only tech-savvy but also open to solutions that fit their digital needs and lifestyle. We must begin to meet them where they are.
“By focusing on mobile platforms and applications, we can design products tailored to younger demographics, promote financial literacy, and build lifelong customer relationships from an early age.”
She stated that mobile technology has particularly revolutionised accessibility, especially in regions with limited traditional infrastructure.
“Today, nearly half of Africa’s population owns a mobile phone, making it an essential tool for reaching underserved communities”
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On microinsurance she said by designing tailored, accessible policies, African insurers can meet the needs of diverse communities while noting that PPP are critical in bringing together resources, expertise, and reach to deliver insurance solutions that make a tangible impact.
“As female professionals, we must recognise and embrace our unique role in all of this transformation.
“We possess the innate abilities to nurture, build trust, and create solutions that resonate deeply with the communities we serve.
“As women, we know what it means to care for others—to protect families, to think about our children’s futures, and to support our immediate communities.
“When there’s an incident, we feel it deeply, and that experience drives our commitment to secure a stable future.
“We understand the importance of insurance in people’s lives, not just as a business but as a lifeline.
“Through our unique insights, we can craft policies that meet the needs of families, small businesses, and underserved groups across Africa.
“We must also ensure we pave the way for other nurturers and multipliers to step forward with confidence and courage.
She noted that the urgency to bring more women into this field is clear.Women bring fresh perspectives and empathy, and these are essential for designing inclusive, people-centred solutions.
“As we grow in our numbers, we increase the potential for the industry to reach more people, and become more resilient, trusted, and impactful.
“By empowering more women to be daring, and men alike, we can collectively transform the landscape of our industry. This is how we bridge the gap.
“Collectively, we can redefine what’s possible for Africa’s insurance sector. As this convention continues, let’s aim to leave here with tangible actions that move us closer to our goals and help us establish ourselves as essential contributors to Africa’s development.
“We are not just here for ourselves but to shape an industry that will improve lives and transform Africa.”
