By Emmanuel Enitan
With insurance penetration in Nigeria remaining low, Linkage Assurance is targeting the country’s growing diaspora market with DiasporaCare+, a new insurance solution designed to extend protection to Nigerians living abroad who own homes, vehicles and other assets, or have family and financial interests in the country.
The initiative is part of the insurer’s strategy to deepen insurance penetration by developing products around emerging customer segments, particularly Nigerians in the diaspora who continue to maintain significant family, property and financial interests in the country.
Speaking at the forum at the weekend, the Managing Director/Chief Executive DOfficer, Linkage Assurance, Daniel Braie, said DiasporaCare+ was designed to give Nigerians abroad greater confidence that the people and assets they care about at home are adequately protected.
According to him, the product represents the company’s effort to extend insurance services beyond geographical boundaries while addressing the evolving needs of its customers.
“DiasporaCare+ is about giving Nigerians abroad greater confidence that the people and interests they care about at home can have access to meaningful insurance protection.we are extending the value of insurance beyond geographical boundaries and providing a dependable bridge between diaspora community and home,” Braie said.
The new product combines four areas of insurance protection covering travel, home, automobiles and holiday-related injuries.
Under Diaspora Travel Insurance, policyholders can access cover for the repatraiation of mortal remains to Nigeria, while Diasporal Home Protection provides cover against fire and special perils, burglary and house breaking, as well as personal accident and liability risks.
The Diaspora Auto Insurance component provides comprehensive, restricted, third-party and third-party-plus options, while Diaspora Holiday Injury Insurance covers accidental bodily injuries and tropical illnesses.
The company said the product was developed in response to the continued economic and social ties between Nigerians abroad and their families, properties and other interests in the country.
The Chief Strategy and Product Officer of Linkage Assurance, Dr. Imo O. Imo, said the product development process focused on identifying protection gaps confronting Nigerians in the diaspora rather than simply creating another insurance policy.
“The thinking behind DiasporaCare+ was to move beyond simply selling an insurance policy to the diaspora. We asked a more fundamental question: how can insurance help Nigerians abroad protect the people, assets and commitments that continue to connect them to home?” Imo said.
He said the product was the company’s response to the need for a practical protection ecosystem built around the risks and commitments of Nigerians living outside the country.
The move comes as Nigerian insurers seek to expand beyond traditional customer segments and improve penetration through products tailored to specific consumer groups.
For the industry, the diaspora market offers an opportunity to widen the insurance customer base, particularly as Nigerians living abroad continue to own property, maintain vehicles, support relatives and undertake investments in the country.
