By David Akinmola
An underwriting firm, Leadway Assurance, has entered into a strategic bancassurance partnership with Ecobank Nigeria Limited to deliver tailored insurance products directly to banking customers across the country.
The partnership launched will integrate Leadway’s life, health, motor, and home insurance solutions into Ecobank’s extensive network, making coverage more accessible to employees, customers, and small business owners.
Under the arrangement , Ecobank customers will be able to purchase policies seamlessly at banking touchpoints, with tained product champions in selected branches to guide them through options such as group life coverage, personal accident insurance, and term life plans.
The initiative is designed to deepen insurance penetration by embedding protection products within everyday financial services and leveraging Ecobank’s more than 250 branches, 50,000 agency banking locations, and multiple digital channels.
Speaking the partnership, Director,sales, Retail and Partnership at Leadway, Kikelomo Fischer, said the collaboration is about making insurance simple and accessible. “By working with Ecobank and leveraging their wide network, we are bringing financial protection closer to people right where they are, and when they need it most. This is a purposefull move to bridge the insurance gap in Nigeria,” she said.
Also the Head of Distribution Channels and Sales, Consumer and Commercial Banking at Ecobank, Adeola Ogunyemi, described the deal as a step toward creating a one hub for financial services. “Our customers will now enjoy the convenience of accessing tailored insurance solutions alongside their banking needs,”she said.
The partnership will also feature insurance awareness campaigns through Ecobank’s physical branches, staff forums, mobile platforms, and direct customer engagement channels to improve understanding and uptake of coverage. Industry analysts belive the alliance could boost Nigeria’s low insurance penetration rate and set the pace for more bank-insurance collaborations especially in light of the new insurance Reform Act recently signed into law.
