By David Akinmola
In a strategic move to expand insurance access across Nigeria, Rex Insurance has unveiled a digital platform aimed at addressing the industry’s persistent low market penetration.
The insurer, which provides both life and general services, said the platform is part of its strategy to modernise operations, reduce friction in the customer journey and tap into Nigeria’s largely uninsured population.
With insurance penetration still hovering around one per cent of GDP, industry players are increasingly turning to digital tools to drive inclusion and efficiency.
According to the Managing Director/Chief Executive Officer of Rex Insurance, Tunde Adedayo, the platform is designed to enable end-to-end policy transactions, including purchase, renewal, claims submission and customer support on mobile and web-based channels.
It also integrates payment gateways and a chatbot for real-time assistance, catering to the evolving expectations of today’s insurance customers.
“Digitalisation is no longer optional; it is a necessity for survival and relevance in today’s insurance landscape. This platform allows us to reach customers we couldn’t access through traditional methods, especially in rural and semi-urban markets,” Adebayo said.
The Rex Insurance platform also offers backend tools to agents and brokers, enabling more agile field operations and faster onboarding of clients.
The hybrid digital-physical approach is seen as critical in markets like Nigeria, where human interaction remains a key component of customer acquisition, especially in the low-income segment.
