• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

AIICO introduces Flexure to distribute insurance products

Insurance

The Matters Press by The Matters Press
September 29, 2023
Reading Time: 2 mins read
0
Veritas Kapital’s total assets hit N21.4bn

Lagos, Sept. 29, 2023: AIICO Insurance Plc on Friday says its newly introduced insurance platform, called Flexure, is to ease the distribution of insurance products and services to customers.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

Mr Olusanjo Shodimu, Chief Digital and Innovation Officer (CDIO), AIICO Insurance, said this on Friday at a training organised for newsmen covering the insurance sector in Lagos.

According to him, Flexure also known as ‘Flexible Insurance’, and currently used by various industry verticals, is to give easy access to insurance services via an Application Programming Interface (API)-driven distribution framework.

“The Flexure platform and API technology powers both B2B and B2C offerings, providing a differentiated customer experience and API-led product distribution that allows businesses to distribute insurance products as ancillary services.

“The platform allows start-ups or insurtechs to innovate and power new, market leading use cases for insurance distribution, as well as direct access to insurance products for consumers,” he said.

Shodimu expressed displeasure that Nigeria with over 200 million people and Gross Domestic Product (GDP) of 440 billion dollars in 2021, only had an insurance penetration rate of 0.5 per cent.

He noted that following the low insurance penetration in the country, insurers must increase their digital sales of insurance products and services to close the huge gap.

Shodimu said that insurance products and services must be sold through channels that were accessible to prospects.

“The adult population is either on social media or surfing the web and they use their mobile phones to perform these activities, hence, insurance products should be sold through channels that are ubiquitous and accessible to prospects,” he said.

According to Shodimu, the major challenges affecting insurance distribution includes: trust issues, lack of awareness, accessibility to insurance products and complexity of insurance policies.

“To this end, Flexure was introduced to streamlines the often complex and time-consuming process of obtaining insurance coverage.

“The platform is a departure to the traditional insurance processes that might involve delays due to manual underwriting and administrative procedures.

“Flexure offers customisable insurance solutions for users to tailor their insurance plans to their specific requirements and also accommodates growing needs and user volumes without compromising performance,” he said.

Shodimu stated that Flexure employs security measures to protect user data, financial transactions, and sensitive information that enable users to trust the platform with their insurance needs.

Tags: Insurance
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Jaiz Bank expands with new branches

Federal, states, Councils in bumper share, split N1.1trn for August

Mangal, Sinoma in deal for $600m cement factory

FirstBank, Lafarge meet with cement distributors on financial services

Recommended Stories

Use your facility beyond annual trade fair – El-Rufa’i advises KADCCIMA

Use your facility beyond annual trade fair – El-Rufa’i advises KADCCIMA

February 5, 2023
July petrol pump price ranges between N140.80 and N143.80

Nigeria records N195.29 as average price of petrol in September

November 22, 2022
Trading in Nigerian stock market dips further N83bn

Stock market opens week negative, down 3.15%

February 20, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us