For decades, motor insurance adoption in Nigeria has largely been limited to mandatory third-party coverage. MotorMaxaddresses this gap by offering motorists robust, accessible protection for their own vehicles, with plans starting from as low as ₦25,000.

MotorMax introduces a flexible, tiered structure—Bronze, Silver, and Gold—tailored to meet the diverse needs and budgets of Nigerian drivers, from urban commuters to long-distance travellers and owners of high-value vehicles.

The MotorMax Bronze plan serves as an entry-level upgrade from basic third-party insurance. Priced at ₦25,000 annually, it offers vehicle repair coverage of up to ₦500,000; third-party vehicle damage coverage of up to ₦3,000,000; unlimited (but reasonable) compensation for third-party injury or death; towing services up to ₦5,000; emergency medical expense coverage up to ₦10,000; and a 10% policy excess.

The MotorMax Silver plan, available at ₦45,000 annually, enhances protection with vehicle repair coverage up to ₦750,000, increased towing benefits of up to ₦15,000 (intra-state) and ₦25,000 (inter-state), and emergency medical coverage up to ₦15,000.

At the premium tier, MotorMax Gold offers motorists near-comprehensive benefits at a significantly lower cost than traditional comprehensive insurance. Priced at ₦50,000 annually, it includes vehicle repair coverage up to ₦1,000,000; third-party vehicle damage coverage up to ₦3,000,000; unlimited liability for third-party injury or death; towing services up to ₦15,000 (intra-state) and ₦25,000 (inter-state); emergency medical coverage up to ₦20,000; and a 10% policy excess.

MotorMax is specifically designed for motorists currently on third-party policies who seek enhanced protection without the financial burden of full comprehensive insurance. By bridging the gap between compliance and comprehensive cover, the product empowers drivers with greater peace of mind on every journey.

Speaking on the launch, Olamide Olajolo, MD/CEO of Coronation Insurance Plc, said:

“MotorMax represents our commitment to reimagining insurance for the everyday Nigerian. We understand that many motorists want more protection than third-party cover but are constrained by cost. With MotorMax, we are providing a practical, affordable solution that delivers meaningful coverage and peace of mind. This is a significant step in deepening insurance penetration and ensuring more Nigerians are truly protected on the road.”

The launch of MotorMax underscores Coronation Group’s broader mission to deliver transformational solutions that address real-life challenges across Africa. By raising the standard for motor insurance offerings, Coronation Insurance continues to position itself as a customer-focused innovator in the industry.

Motorists can purchase MotorMax by emailing digitalsales@coronationinsurance.com.ng or calling 02-012275475 or 02-012275476.

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Recent innovations in insurtech are changing this narrative. By leveraging mobile platforms, artificial intelligence, and data-driven solutions, insurers are breaking down traditional barriers of access, trust, and operational inefficiency. These technologies are making insurance faster, simpler, and more accessible to previously underserved populations, enabling a broader reach and fostering confidence in financial protection.

In a recent Insurtech Webinar hosted by Coronation Insurance Plc titled “How Insurtech Is Changing Insurance Adoption in Emerging Economies,” industry experts explored how technology is transforming insurance accessibility and helping insurers reach underserved populations.

Delivering the keynote presentation, Enobong Ezekiel, Chief Executive Officer of Coreal8 Limited, highlighted how traditional insurance models have struggled for decades to reach large segments of the population due to low awareness, limited trust, and operational inefficiencies.

“Technology is dismantling the barriers that once limited insurance access. Through mobile platforms, data analytics, and artificial intelligence, insurance can now be simpler, faster, and more accessible to people who previously had no access to financial protection,” she explained.

The webinar’s engaging panel discussion, moderated by Oluwaseyi Ibileke, Team Lead, Strategy and Project Management Office, Coronation Insurance Plc, featured insights from Nelson Madu, Head of Information Technology, Coronation Insurance Plc; Gbenga Adigun, Chief Executive Officer of Scrella Technologies Limited; and Dr. John Dada, Co-founder and Chief Technology Officer of Curacel.

Nelson Madu emphasized the growing importance of digital infrastructure in transforming the insurance industry. He explained that technologies such as AI-driven underwriting, digital onboarding platforms, and mobile-based services are helping insurers simplify the customer journey, reduce operational friction, and expand access to insurance products.

Sharing the perspective of an insurtech innovator, Gbenga Adigun, CEO of Scrella Technologies Limited, discussed how technology-driven platforms are enabling insurers to design more accessible and affordable products. Drawing from his experience building smartphone insurance solutions, he explained that digital tools make it possible to deliver insurance services without the traditional barriers of physical locations or lengthy paperwork.

Adding to the discussion, Dr. John Dada, Co-founder and Chief Technology Officer of Curacel, spoke about the role of artificial intelligence in transforming claims management and reducing fraud across the insurance ecosystem.

He explained that AI-powered platforms can help insurers detect anomalies, process claims faster, and reduce operational losses, ultimately strengthening trust between insurers and customers.

“Technology must not only make insurance faster but also more transparent and fair. When customers see that claims are processed efficiently and accurately, it builds confidence in the system,” he said.

The webinar provided valuable insights into how emerging technologies are reshaping the insurance landscape and creating new opportunities to close the protection gap across emerging economies.

Through initiatives like this webinar, Coronation Insurance Plc continues to reinforce its commitment to innovation, customer education, and thought leadership, demonstrating how technology can help drive greater insurance adoption and deliver more inclusive financial protection for individuals and businesses.

Watch the full here.

The post How Insurtech Innovations Are Making Insurance Faster, Simpler, and More Accessible appeared first on Business Today NG.

The Forum, themed “Driving Collective Advocacy for the Transformation of Nigeria’s Insurance Industry,” will convene regulators, policymakers, C-suite executives and ecosystem stakeholders to align on the reforms, capabilities and coordinated actions required to unlock the full potential of Nigeria’s insurance sector.

Confirmed speakers include Aigboje Aig-Imoukhuede, CFR, Chairman of Coronation Group and Access Holdings; Mr Olusegun Ayo Omosehin, Commissioner for Insurance, NAICOM; Senator Tokunbo Abiru, Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions; Obi Ibekwe, Chief Executive Officer, EnterpriseNGR; Bola Odukale, Director-General, Nigerian Insurers Association; and Yetunde Olubunmi Ilori, FIIN, President/Chairman of Council, Chartered Insurance Institute of Nigeria.

Olamide Olajolo, Chief Executive Officer of Coronation Insurance and a member of the Governing Council of the Nigerian Insurers Association (NIA), will participate in the high-level deliberations, contributing to consensus-driven priorities to strengthen regulation, deepen innovation and accelerate sector growth.

The session is designed to move beyond diagnosis towards coordinated action, particularly in the context of ongoing industry reform.

Coronation Insurance is also supporting the Forum as a sponsor, reinforcing its commitment to advancing structured advocacy and sustained collaboration across the ecosystem.

Speaking ahead of the event, Olajolo said: “Transformation requires capacity at every level of the industry. We must strengthen underwriting discipline, scale up actuarial expertise, modernise risk management frameworks, and invest in digital infrastructure that improves transparency and the customer experience. When we build institutional capacity, we build confidence. When we build confidence, we unlock growth.” He continued: “This Forum offers an opportunity to align ambition with execution. Operators, regulators and policymakers must agree on clear, time-bound priorities and remain accountable for delivery. Collective action is how we expand penetration, deepen trust and position insurance as a strategic enabler of economic resilience.”

Adebowale Adesona, Chief Executive Officer of Coronation Life Assurance, emphasised the central role of human capital in shaping the sector’s future.
“Capacity begins with people,” Adesona said. “We must invest in technical skills, uphold professional standards and cultivate leadership that understands both risk and responsibility. A stronger talent pipeline will translate into stronger balance sheets, stronger governance and stronger consumer protection.” He added, “At Coronation, we view capacity as the bridge between reform and results. By developing skills, strengthening systems and promoting innovation, we contribute to a more credible industry, one that mobilises long-term capital, supports enterprise and advances national prosperity.”

Through its active participation, Coronation Insurance reaffirms its position as a leading African financial services partner committed to sustainable wealth creation and to building the institutional strength needed to transform Nigeria’s insurance industry.

The post Coronation Insurance to Play Leading Role at EnterpriseNGR Insurance Sector Transformation Consultative Forum 2026 appeared first on Business Today NG.

Scheduled for Thursday, March 5, 2026, the virtual session will explore how technology — from artificial intelligence and automation to embedded insurance solutions — is reshaping underwriting, claims management, and customer experience. The event is expected to convene industry leaders, technology experts, and stakeholders to examine practical pathways for expanding access to insurance protection in underserved markets.

The webinar forms part of company’s broader thought leadership efforts aimed at advancing innovation, strengthening trust, and accelerating the transformation of insurance delivery across emerging economies.

Participants will gain insights into how automation, APIs, and artificial intelligence are simplifying underwriting processes, distribution channels, and claims management. The discussion will also explore how mobile platforms and embedded insurance models are helping insurers reach underserved individuals and small businesses.

In addition, the webinar will highlight the role of technology in improving transparency, accelerating claims turnaround time, reducing fraud, and strengthening consumer confidence. Real-world case studies will provide practical examples of how innovation is increasing insurance adoption rates.

Speakers will further assess the future trajectory of insurtech, outlining what insurers, startups, regulators, and customers can expect in the next phase of industry growth.

Driving Inclusion Through Technology

Industry analysts note that boosting insurance adoption in emerging markets is increasingly a technology-driven challenge rather than solely a policy issue. As digital ecosystems expand, stakeholders are focusing on leveraging innovation to reduce friction, enhance customer experience, and improve financial inclusion.

According to the organizers, the session aims to provide practical, jargon-free insights into how technology is transforming insurance and what it means for businesses and consumers alike.

The webinar is expected to provide valuable insights into the evolving intersection of technology and insurance, and the opportunities it presents for expanding protection across emerging economies.

Interested participants can register at: https://bit.ly/insurtech2026

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