The new feature allows customers to interact with CiCi using their voice, making it easier to access selected insurance services through natural conversations. Rather than navigating multiple menu options, customers can simply speak to CiCi and receive instant assistance.

Powered by Artificial Intelligence (AI), Natural Language Processing (NLP), and speech recognition technology, the Voicebot understands customer requests and responds in real time, providing quick and seamless support.

Speaking on the development, Jafar Elamah, Head Digitization & Projects Cornerstone Insurance Plc, said:

“At Cornerstone Insurance, we are constantly looking for innovative ways to make insurance simpler and more accessible for our customers. The introduction of CiCi’s Voicebot is another step in our digital transformation journey, enabling us to deliver faster responses, greater convenience, and an enhanced customer experience.”

The Voicebot is currently designed to support selected customer journeys, including onboarding for investment-linked products and providing guidance on motor insurance claims. Customers can obtain product information, begin selected onboarding processes, and receive claims support through simple voice interactions.

Unlike traditional customer service systems that require customers to follow lengthy menu prompts, CiCi’s Voicebot understands natural conversations, making interactions quicker, easier, and more intuitive.

The new capability is expected to:provide  customers with faster access to information and support.

The launch forms part of Cornerstone Insurance’s broader digital transformation strategy aimed at leveraging technology to improve service delivery and meet the evolving needs of customers.

As customer adoption grows, the company plans to expand the Voicebot’s capabilities to support additional insurance products and customer service journeys.

With the introduction of CiCi’s Voicebot, Cornerstone Insurance continues to reinforce its position as one of Nigeria’s leading innovative insurance companies, leveraging technology to make insurance more accessible, responsive, and customer-centric.

About Cornerstone Insurance Plc

Cornerstone Insurance Plc is a forward-thinking insurance company committed to delivering innovative products, responsive service, and customer-focused digital solutions. Through continued investment in technology and process improvement, the company is strengthening how customers access insurance information, complete product onboarding, and receive support across key service journeys.

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Cornerstone Insurance Plc and its subsidiary, FIN Insurance Company Limited, have been recognised by the National Insurance Commission (NAICOM) among insurance companies that have fulfilled the recapitalisation requirement under the Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025).

The announcement by NAICOM marks a significant milestone for the Cornerstone Group, reinforcing its financial capacity and commitment to providing dependable insurance solutions to its customers while positioning the Group’s businesses for sustainable growth in Nigeria’s evolving insurance industry.

Commenting on the development, the Managing Director of Cornerstone Insurance Plc, Stephen Alangbo, expressed his appreciation to the company’s stakeholders for their support in achieving this milestone.

“We are pleased that both companies have fulfilled the recapitalisation requirements under the Nigerian Insurance Industry Reform Act 2025. This achievement reinforces our financial strength and our capacity to continue bearing the risks entrusted to us and meeting our obligations to our numerous customers.”

“Innovation remains central to our approach, as we continue to develop solutions that respond to the evolving needs of our customers. The continued confidence and support of our partners, brokers and clients have been instrumental in achieving this important milestone, and we deeply appreciate their trust.”

“As we look ahead, we will invest further in technology to make our products and services more accessible and convenient, while continuously improving our overall customer experience. The public can be assured that Cornerstone Insurance, together with its subsidiaries, FIN and Hilal Takaful Insurance Limited, is well capitalised and strategically positioned to meet the evolving needs of our customers and stakeholders.”

The fulfilment of the recapitalisation requirement strengthens the foundation upon which Cornerstone Insurance Plc and its subsidiaries will continue to serve customers and other stakeholders.

For the Group, the milestone goes beyond meeting a regulatory requirement. It reflects a continued commitment to building resilient and dependable businesses with the capacity to take on risks and support customers when they need it most.

The Group appreciates its customers, brokers, partners, shareholders and other stakeholders for their continued confidence, trust and support, which have been instrumental in achieving this important milestone.

About Cornerstone Insurance Plc

Cornerstone Insurance Plc is a Nigerian insurance company committed to providing dependable and innovative insurance solutions to individuals, businesses and institutions. The company combines industry expertise, innovation and technology to deliver products and services designed to meet the sevolving needs of its customers.

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‎Speaking today during the company’s 34th Annual General Meeting (AGM), held in Lagos, its Acting Chairman, Afolabi Balogun, said the company’s  profit after tax rose to N11.76 billion at the end of 31st December, 2025 when compared to N25.89 billion reported in 3025. D

‎According to him the Group recorded insurance revenue of N51.66 billion, representing 34% increase over the previous year of  2024, while earnings per share stood at 64 kobo per share.

‎Total assets rose to  N141.03 billion while shareholders’ fund rose to N72.86 billion from  N60.50 billion in the previous year of 2024. 

In recognition of these performance, the Board recommended a dividend of N0.28 per share.

‎These results he noted reflect the strength of its  franchise, the quality of its customer relationships, and the disciplined execution of our strategy. 

‎‎On future outlook he said “Cornerstone enters this new phase from a position ‎strength. We have a clear strategy, a strengthened Capital base, an experienced leadership team, and the support a committed majority shareholder. Most importantly, ‎have a trusted brand and a growing customer franchise that provides a strong platform for sustainable growth.

‎Managing Director, Stephen Alangbo, further  explained that the company’s profit before tax declined to ₦8.73 billion from ₦28.62 billion in 2024 due to the normalisation of earnings after the exceptional foreign exchange gains recorded in the previous year. 

‎‎He noted that the company had posted ₦30.83 billion in one-off foreign exchange gains in 2024 following the Naira devaluation.

‎“Adjusting for this one-off effect, our underlying performance demonstrates sustained growth in our core insurance operations,” Alangbo said.

‎The company’s report also showed that net profit for the year stood at ₦11.76 billion, down from ₦25.89 billion in 2024, further reflecting the normalisation of earnings after the exceptional gains recorded in the previous year.

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The project, commissioned recently, reflects Cornerstone’s vision of protecting lives and property by promoting health, and sustainability. It also aligns with the United Nations Sustainable Development Goals (SDGs), particularly SDG 6 – Clean Water and Sanitation and SDG 13 –Climate Action.

Speaking at the handover ceremony, the Head of Marketing and Corporate Communications Cornerstone Insurance Plc, Cordelia Ekeocha, who represented the MD/CEO Stephen Alangbo. said the initiative emphasises its commitment to supporting communities and promoting sustainability. We believe that all our initiatives should have a lasting impact in the lives of the recipients.

The CIPLCF is committed to promoting community support, education, and health & safety, hence this borehole project is significant.

Receiving the project on behalf of the NDLEA Chairman, Brigadier-General Mohammed Buba Marwa (Rtd), the Director of Technical Services, DCG Ambrose Umoru, commended the Foundation for the donation, noting that the borehole would provide reliable access to clean water for the agency.

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The awareness walk was aimed at promoting healthy living and increasing public awareness of the importance of insurance in everyday life.

Through its active participation, the company once again reaffirmed its commitment to employee wellness, teamwork, and fostering strong professional relationships within the Nigerian insurance industry.

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Flooding remains one of the most pressing environmental and economic challenges facing Lagos State, with vulnerable and low-income communities bearing the greatest impact during the annual rainy season. As a low-lying coastal city with an average elevation of about 1.5 metres above sea level, Lagos is increasingly exposed to flood risks driven by rising sea levels, land subsidence, rapid urbanisation, and drainage systems frequently clogged by waste.

Over the years, the state has witnessed worsening flood incidents, particularly between April and July, causing extensive damage to infrastructure, businesses, livelihoods, and economic activities. The annual economic losses resulting from flooding in Lagos are estimated at nearly $4 billion.

In response to these growing threats, the United Nations Development Programme (UNDP) and the Insurance Development Forum (IDF), with funding support from the German Federal Ministry for Economic Cooperation and Development (BMZ), developed the Lagos Flood Risk Transfer Scheme in collaboration with the Lagos State Government.

The initiative aims to provide rapid financial assistance to vulnerable residents through an innovative parametric insurance solution designed to enable quicker response and recovery after major flooding events.

Following comprehensive technical assessments and modelling exercises, a flood footprint-based index was selected as the most suitable insurance model for Lagos State, considering the city’s exposure to pluvial, fluvial, and coastal flooding. Under the scheme, insurance payouts are triggered once flood depths reach 50 centimetres.

After receiving regulatory approval from the National Insurance Commission (NAICOM), the scheme is now being underwritten by Cornerstone Insurance Plc alongside three other leading insurance companies, with Africa Re providing reinsurance support.

Speaking on the initiative, the Managing Director of Cornerstone Insurance Plc, Stephen Alangbo, said:

“At Cornerstone Insurance, we recognise that climate-related risks such as flooding continue to threaten livelihoods, businesses, and vulnerable communities across Lagos State. Our participation in the Lagos Flood Risk Transfer Scheme reflects our commitment to delivering innovative insurance solutions that strengthen resilience, support rapid recovery, and provide meaningful financial protection to those most affected by environmental challenges.”

The long-term sustainability of the initiative is further reinforced by the Lagos State Government’s commitment to phased premium payments over the next three years. The scheme has also been integrated into the state’s broader disaster management framework, strengthening coordinated efforts to improve preparedness, response, and recovery for flood-prone communities across Lagos State.

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Cornerstone Insurance Plc, one of Nigeria’s most trusted insurance providers has been named 2025 Insurance Company of the Year at the annual awards ceremony recently organised by Champion Newspapers. The prestigious recognition was announced at a well-attended ceremony held at Eko Hotels & Suites.

The award celebrates outstanding performance, innovation, and industry leadership within Nigeria’s financial services sector. Cornerstone Insurance stood out among strong contenders for its consistent commitment to customer satisfaction, digital transformation, and the delivery of innovative insurance solutions tailored to the evolving needs of individuals and businesses.

The event attracted top executives and leading organisations across various sectors of the economy, including Monie point, Heirs Energies, Access Bank, Zenith Bank, and Globus Bank, further highlighting the significance of the recognition within Nigeria’s corporate landscape.

Receiving the award on behalf of the company, the Group Managing Director of Cornerstone Insurance, Stephen Alangbo, expressed appreciation to the organisers and reaffirmed the company’s commitment to excellence and innovation in the insurance industry.

“This recognition by Champion Newspapers is a strong affirmation of the dedication, resilience, and professionalism of our entire team at Cornerstone Insurance Plc. We remain committed to building trust, delivering value, and continually improving our products and services to meet the needs of our customers and stakeholders. As the insurance landscape evolves, we will continue to invest in innovation, technology, and talent to ensure we remain a dependable partner in protecting the dreams and aspirations of Nigerians.”

The award reflects Cornerstone Insurance’s growing influence in Nigeria’s insurance sector and its sustained focus on strengthening financial protection for individuals, families, and businesses. Over the years, the company has distinguished itself through strategic investments in digital platforms, efficient claims management, and customer-centric product offerings.

Industry analysts note that recognitions such as this reinforce the company’s reputation as one of Nigeria’s leading insurers and a trusted partner in risk management.

As Cornerstone Insurance continues to expand its footprint and deepen its impact in the market, the company remains focused on delivering innovative solutions that empower customers to confidently navigate life’s uncertainties.

Cornerstone Insurance is licensed and re-certified by the National Insurance Commission (NAICOM) to provide both general and life insurance services. As the first insurance company in Nigeria to offer customers an online platform for insurance transactions, its services are driven by cutting-edge technology, making them easily accessible via the internet and mobile platforms.

At Cornerstone, we are committed to our core values of integrity, empathy, professionalism, innovation, and team spirit. Our mission remains delivering value beyond expectations through need-based products and quality service.

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The company also delivered a significant improvement in its insurance service result, which rose to ₦10.7 billion, representing a 353 per cent growth year-on-year.

According to statement released by the insurer, the robust results reflect its disciplined underwriting strategy, operational efficiency, and sustained investment in innovative, customer-focused solutions, further reinforcing its resilience and growth trajectory within Nigeria’s insurance industry.

Speaking on the company’s performance, the Group Managing Director and Chief Executive Officer, Mr. Stephen Alangbo, described the results as a clear indication of Cornerstone’s commitment to excellence and long-term value creation.

“Our 2025 financial performance is a testament to the strength of our strategic direction and the deliberate steps we have taken to strengthen our operations and enhance service delivery. Despite the complexities within the operating environment, we remained consistent in our pursuit of disciplined underwriting, improved customer experience, and digital transformation. This achievement reflects the unwavering dedication of our employees, the trust reposed in us by our customers, and the strong support from our stakeholders. As we move forward, we will continue to explore growth opportunities, invest in innovation, and deepen our market presence to sustain our upward trajectory.”

Also commenting on the results, the Chief Financial Officer, Mr. Jubril Ajose, emphasised the company’s sound financial management and efficient cost structure as key contributors to the impressive growth recorded during the year.

“The remarkable increase in both insurance revenue and insurance service result highlights the effectiveness of our financial discipline and strategic cost management initiatives. Our focus on balancing revenue growth with prudent risk management and expense optimisation has strengthened our profitability and enhanced our overall financial health. We remain committed to maintaining strong corporate governance standards, ensuring transparency in our reporting processes, and consistently delivering value to our shareholders.”

Cornerstone Insurance Plc has continued to distinguish itself in Nigeria’s insurance industry through innovative product offerings, strategic partnerships, and technology-driven service delivery channels. The company’s consistent investment in digital solutions has improved customer engagement, simplified claims processes, and enhanced overall operational efficiency.

The underwriting firm sustains its growth momentum, the company remains focused on expanding insurance penetration, strengthening stakeholder confidence, and reinforcing its reputation for reliability, professionalism, and service excellence. With its strong 2025 financial performance, the company is well-positioned to capitalise on emerging opportunities and further consolidate its leadership position within Nigeria’s insurance sector.

About Cornerstone Insurance

Cornerstone Insurance is licensed and re-certified by the National Insurance Commission (NAICOM) to provide both general and life insurance services. As the first insurance company in Nigeria to offer customers an online platform for insurance transactions, its services are driven by cutting-edge technology, making them easily accessible via the internet and mobile platforms.

The post Cornerstone Insurance Reports Robust 2025 Performance with 44% Revenue Growth appeared first on Business Today NG.

Group Managing Director and Chief Executive  Officer of Cornerstone Insurance Plc, Stephen Alangbo, disclosed this while addressing annuitants at the company’s Annuity Forum held on Monday in Lagos.

Lasaco Assurance Plc had, in September 2025, announced plans to transfer its annuity portfolio to Cornerstone Insurance Plc as part of a broader strategic realignment aimed at streamlining operations and improving efficiency.

Alangbo said the takeover followed regulatory approval and assured annuitants that payments had continued seamlessly under Cornerstone’s management.

On transfer of Niger insurance annuity portfolio to Cornerstone he said  “following the liquidation at Niger insurance Plc, the  regulator, in its wisdom, must always give Nigerians confidence that when they take an insurance policy, they are protected,” he said.

“This transfer was carried out following a regulatory process, and Cornerstone Insurance Plc was selected because of the confidence the regulator has in our capacity, competence, and financial strength.”

He explained that the successful transfer was based on Cornerstone’s proven track record in underwriting life insurance and annuity businesses, as well as the company’s strong governance structure.

“The regulator assessed the market and identified Cornerstone as a reliable insurance company with the competence to manage annuity obligations. Our reputation, financial strength, management, and board were critical factors considered before the portfolio was transferred,” Alangbo said.

On the transfer of Lasaco Assurance’s annuity portfolio, he expressed his pleasure in taking it over and said Cornerstone Insurance remains open to acquiring additional annuity and insurance portfolios as opportunities arise.

“Cornerstone is well positioned and financially strong. We are ready to take on more annuity portfolios, and where necessary, we will communicate further developments to annuitants and the public,” he said.

According to Alangbo, the acquisition further strengthens confidence in the insurance industry and underscores Cornerstone’s commitment to protecting retirees and policyholders.

The event also provided annuitants with the opportunity to ask questions about the transformation and other matters of interest. It featured a dance competition, and various activities offering participants the chance to win recharge cards, among other attractions.

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The Group Managing Director, Stephen Alangbo, disclosed this on the sidelines of the company’s annuity forum held in Ikeja. He said the company has already met the recapitalisation requirements, subject to verification by the National Insurance Commission (NAICOM).

“Subject to NAICOM’s verification, we have met the recapitalisation requirement without sourcing additional capital or entering into any merger,” Alangbo said.

He further revealed that the company’s subsidiaries—FIN Insurance Limited and Hilal Takaful Nigeria Limited—have also met the minimum capital base prescribed by the regulator.

“Cornerstone Insurance Plc has two subsidiaries: FIN Insurance Limited, a specialist general insurance company, and Hilal Takaful Nigeria Limited, which operates under the Islamic insurance model. We own 96 per cent of FIN Insurance and 99 per cent of Hilal Takaful,” he explained.

According to him, Hilal Takaful Nigeria Limited currently has sufficient capital to operate in line with NAICOM’s regulatory requirements.

On FIN Insurance, Alangbo said the company, subject to NAICOM verification, has capital in excess of ₦15 billion and has already paid the required capital to the Central Bank of Nigeria to demonstrate its capacity to operate independently, without a merger or business combination.

Speaking on the parent company, he noted that Cornerstone Insurance Plc, as a composite insurance firm, is also adequately capitalised.

“Cornerstone, being a composite company, has more than enough capital to meet NAICOM’s requirements, subject to verification of our accounts. We are not seeking additional capital or considering a merger. Rather, we are fully positioned to acquire insurance companies that are unable to recapitalise,” he said.

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