Enterprise Life has reaffirmed its commitment to providing digitalized solutions to meet the changing needs of its customers, following the successful launch of AdvantageConnect, its new digital insurance channel based on geo-technology.
Additionally, the insurance company has expanded its operations by opening two new branches in Abuja and Port Harcourt respectively.
It noted that the expansion represents a significant step in the company’s efforts to increase insurance coverage nationwide and to provide reliable and personalized insurance services to a broader audience.
Despite the critical need for insurance, adoption rates among the population, particularly the youth remain low due to misconceptions and lack of awareness.
A recent report by the UNDP states that less than two percent of Nigerians have any form of insurance with slow innovation in the sector.
According to Enterprise Life, the introduction of AdvantageConnect is designed to bridge this gap by connecting users to professional life planners for financial planning, advisory, and tailored insurance solutions.
In addition, the insurance firm is launching educational programs targeting the younger generation as these initiatives emphasize the importance of insurance as an integral part of financial planning and security, fostering a culture of financial literacy and responsibility among Nigerian youth.
Addressing journalists at the company’s corporate office in Lagos, Funmi Omo CEO of Enterprise Life said: “Our expansion into these regions is a bold step towards transforming the insurance landscape in Nigeria.
“There are a lot of conversations about financial inclusion, however, people remain unaware that inclusion is incomplete without the adoption of insurance to protect us against risk, and that is why we are committed to empowering Nigerians with the advantage they need to secure their future. By advantage, we mean adequate knowledge, tools, and dedicated lifeplanners whose primary role is to assess the individual lifestyles of our clientele to develop tailored insurance solutions”
“With this expansion, we aim to make insurance more accessible and inclusive, fostering a new generation of financial literates who view insurance as an essential component of financial planning,” Omo emphasized.
Enterprise Life’s educational efforts will include financial literacy workshops across educational institutions.
These workshops aim to demystify insurance, highlighting its benefits and empowering the youth to make informed financial decisions.
Also, the #LearntheAdvantage series on social media will provide engaging and informative content to promote financial literacy and encourage insurance adoption among young Nigerians.
By creating employment opportunities and enhancing financial literacy, Enterprise Life aims to stimulate local economies and support youth development. With over three years operating in Nigeria, these new branches will play a crucial role in fostering a financially literate and prepared generation, ultimately driving Nigeria’s economic growth.
