Innovative InsurTech platform goes live to transform insurance access in Nigeria

In its bid to deepen insurance among Nigerian populace, Transparency Scape Insurance Brokers Limited, foremost insurance brokerage firm in Nigeria, has unveiled its highly anticipated InsurTech solution, InsurEase.

Insurance penetration in Nigeria is said to be low and several factors contribute to it including lack of awareness, mistrust of insurance providers, rigorous process and economic hardship.

But following a successful rollout to key industry stakeholders of InsurEase with the mobile application now available for download0 on the Google Play Store and Apple App Store for both Android and iOS users, it is expected that this will further create awareness and active purchase of insurance policies.

According to the company, InsurEase allows customers to purchase a variety of insurance policies, health, device, motor, and travel directly from their smartphones. Designed with user convenience in mind, the app offers a seamless, user-friendly experience, enabling users to explore, compare, and secure coverage in just a few taps.

Transparency Scape said it aims to empower customers with access to affordable, reliable, and convenient insurance policies while giving them the flexibility to choose from a wide range of offerings from top-tier insurance providers.

These partners include AXA Mansard Insurance Plc., NEM Insurance Plc., Leadway Assurance Company Limited, Coronation Insurance Plc., Cornerstone Insurance Plc., Consolidated Hallmark Insurance Plc, Bastion HMO, and Tangerine Africa. The app is also integrated with trusted payment gateways Paystack and Budpay to ensure smooth and secure transactions.

“We are thrilled to officially go live,” said Oluseyi Ifaturoti, Managing Director and CEO of Transparency Scape. “Reaching this milestone has been a journey of perseverance, and we are excited to offer our customers peace of mind through a smart, easy-to-use app. Our goal is to be a trusted partner as they navigate the often complex world of insurance.”

Transparency Scape said it has also partnered with key regulatory bodies, including the National Insurance Commission, NAICOM, Nigerian Insurers Association (NIA), Chartered Insurance Institute of Nigeria, CIIN, The Nigerian Council of Registered Insurance Brokers, NCRIB, to ensure full compliance and uphold the highest industry standards.

“We extend our sincere gratitude to our regulators for fostering innovation within Nigeria’s insurance space,” Ifaturoti added. “We are also grateful to our insurance partners for their trust and for allowing us to integrate their APIs. This has been instrumental to our success.”

Speaking further on the impact of the launch, Olufela Olurin, Chief Operating Officer of Transparency Scape Insurance Brokers Limited, said, “InsurEase reflects our core values of transparency and trust. By breaking down the barriers to insurance accessibility, we have made it easier for Nigerians to secure the protection they need. Our app simplifies the entire insurance journey, giving users greater peace of mind and security for their future.”