The Nigerian Insurers Association (NIA) has initiated it 2025 Innovation Lab, a six –week accelerator programme designed to transform Nigeria’s insurance sector through cutting-edge technology, strategic partnerships, and starup-driven solutions.
Unveilied in Lagos, the initiative aims to serve as a collaborative hub where insurers, starups, and technology partners co-create scalable solutions tailored to the Nigerian market.
The lab will focus on digital tools that improve customer acquisition, fraud prevention, electronic KYC, and claims management.
Speaking at the launch, NIA Chairman Kunle Ahmend, said the project markes a turning point in positioning the industry for a technology-led future. “We are not just opening a facility, we are igniting a movement rooted in innovavation, driven by collaboration, and destined to transform how we protect lives, assets, and futures, he said.
Ahmed highlighted the urgency of digital adoption, noting Nigeria’s median age of 18 and the need for insurers to leverage artificial intelligence, blockhain, and advanced data analytics to expand access and build trust. “Innovation is not a lexury it is a necessity. The future of our industry depends on agility, inclusiveness, and digital empowerment,” he stressed.
The programme’s design followed and extensive industry survey that angeged 45 senior executives across life, general, and micro-insurance segments. Findings revealed strong appetite for innovation, with 87 per cent of executive willing to collaborate on shared solutions and 69 per cent ready to commit resources in 2025. Fraud detection, eKYC, and claims automation emerged as key priorities.
Also NIA’s Innovation Lab officer, Damola Oloko, said the lab will culminate in a Demo Day on November 20, where starup pitch their solutions for potential pilot deployment.Applictions for participation open between August and close September 28, with pitch day scheduled for October 7 and the accelerator programme running from October 13.
“The lab is a launchpad for ideas that can redefine insurance in Nigeria,” Oloko said, adding that selected innovators will receive mentorship and industry access to accelerate product development.
With this initiative, NIA is betting on a digitally empowered ecosystem to boost insurance penetration, enhance customer experience, and position the sector for long-term growth in Africa’s larget economy.
