Techpoint, AXA Mansard partner on Insurance penetration for startups

AXA Mansard Insurance Plc says it has collaborated with the Techpoint Africa to enhance insurance penetration among tech startups, entrepreneurs and youths.

Mr Bayo Adesanya, its Chief Digital Officer,  made the disclosure on at the Techpoint Build Conference held in Lagos.

Adesanya said that the partnership aimed toward deepening the country’s insurance coverage beyond its current one per cent.

According to him, it is also to show the firm’s commitment to support the phenomenal growth of the tech space, businesses, as well as youths

“Nigeria has a huge youths population, which is about 60 per cent of our population and most of them are under 30 and doing great things with technology.

“Majority of the country is not well represented in the insurance or non-banking financial services space because coverage for insurance in the country is below one per cent.

“We feel that If we are going to address that and spread the benefits that comes from the services of that sector, it is important to engage youths and in a technology-driven way,” he said.

Adesanya said the firm had set up a team that was dedicated to e-commerce and digital transformation and intends to use various digital channels to reach as many people as possible.

According to him, the Techpoint Build Conference is a platform that it will leverage to convey its message across to various businesses and tech entrepreneurs, largely youths.

Adesanya said: “Technological disruption to insurance have begun in advanced climates; insurance is going digital and technological solutions used to deepen penetration.

“We understand the role that technology plays and we intend to use it to take our services beyond the traditional insurance.”

In his remarks, Mr Adewale Yusuf, Founder, Techpoint Africa, said that the conference was borne out of the need to support startups and small businesses with necessary skills to develop a profitable business.

“For years, my team and I have documented the journey of startups and SMEs in Nigeria and Africa, and discovered that the problems attributed to businesses were the same.

“We have brought experts, founders in different fields to help businesses understand the intricacies of having and building a successful business in Africa.

“Technology is having a huge disruptive effects on businesses, health and even our existence, we need to get ourselves abreast with the evolving trends,” he said.

Yusuf said that the SME/Startup Clinic session of the programme would rejuvenate startups with diagnostic advice from advisors and assist them unlock their potentials for economic growth.

Techpoint Build organised by Techpoint Africa is a Conference and Exhibition aim at unlocking the potential within the tech and business sector while projecting its future growth.

The platform would connect the startup and SME community with all industries, converging people from different states across Nigeria and other neighbouring countries.