Managing Director/Chief Executive Officer of the company, Mr. Adedayo Arowojolu, said the conference underscored the urgent need for insurers across Africa to expand access to insurance products through innovation, collaboration, and technology-driven solutions.

Speaking on the sidelines of the event, Arowojolu revealed that Unitrust Insurance, traditionally focused on corporate business, is now looking to develop products tailored to individuals and small businesses in a bid to contribute to the growth of insurance penetration in Nigeria.

“For us as a company, one of the key lessons we are taking away from this conference is the need to review our entire processes and product offerings,” he said. “We have concentrated largely on corporate business over the years, but going forward, we need to develop products that are suitable for individuals and strengthen our personal lines of business.”

According to him, discussions at the two-day conference highlighted the importance of leveraging technology to reach underserved populations and make insurance more accessible and affordable.

Arowojolu noted that despite Nigeria’s population of more than 220 million people, insurance penetration remains below one per cent, creating significant opportunities for insurers willing to innovate and address the needs of the mass market.

“The importance of extending insurance products to SMEs and individuals cannot be overemphasized,” he said. “The best way to achieve this is by using technology to reach those who currently have little or no access to insurance services.”

He added that affordability remains a critical factor in encouraging wider adoption of insurance products, especially in an environment where many consumers prioritize more immediate economic needs.

“If insurers can provide products that are relevant to people’s circumstances and financial realities, more Nigerians will begin to see the value of insurance and embrace it,” he said.

The conference also focused on fostering greater collaboration among African insurers, pooling resources, and reducing capital outflows from the continent, themes Arowojolu described as essential to the long-term growth and sustainability of the insurance industry.

He further noted that discussions around the role of insurance in sustaining businesses reinforced the need for increased awareness and education about the benefits of insurance protection.

As Unitrust Insurance evaluates the conference’s key recommendations, the company plans to explore new ways of delivering affordable insurance solutions to retail customers while leveraging technology to broaden its market reach.

“We need to let more people understand the value that insurance brings,” Arowojolu said. “By adapting some of the ideas and lessons from this conference, we believe we can play a greater role in deepening insurance penetration and expanding financial protection for Nigerians.”

This version makes Unitrust’s planned expansion into the retail and personal insurance segment the main news angle while weaving in the broader conference discussions as supporting context.

The post #AIOCAIRO2026: Unitrust Insurance Eyes Retail Segment for Next Growth Phase appeared first on Business Today NG.

From left; Deputy Commissioner for Insurance Finance & Admin, Ekerete Ola Gam-Ikon; Director Supervision, Oluwatoyin  Charles; Commissioner for Insurance, National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin; Chairman NAICOM, Hajiya Halima Kyari. Chairperson and Special Adviser, Technical to CFI , Taiwo Adeoye.

Cross section of NEM Insurance Plc, delegation  to  AIO led by it’s Chairman, Mr. Tope Smart

Cross section of Cornerstone Insurance  Plc delegation to 52nd AIO Conference, led by its  Managing Director/CEO, Mr.Stephen Alangbo,

From left: Segun Balogun, Independent non-Executive Director, SanlamAllianzi General Insurance Ltd; Nomwen Emeghalu; MD, FGI Insurance Brokers Ltd; Deputy Commissioner for Insurance Finance & Admin, Ekerete Ola Gam-Ikon and  Toye Odunsi, Mascot Insurance Brokers Ltd.

From left;Managing Director, NEM Insurance Plc, Andrew M. Ikekhua; Director Supervision, NAICOM, Oluwatoyin  Charles; Deputy Commissioner for Insurance Finance & Admin, NAICOM, Ekerete Ola Gam-Ikon and Managing Director, Veritas Kapital  Assurance Plc, Dr. Adaobi Nwakuche.

Team of Unitrust Insurance Limited to AIO led by its Managing Director/CEO, Mr.Adedayo Arowojolu.

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