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.

The post Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax 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.