Casava Inc., the parent company of Nigeria’s first digital microinsurance provider, has appointed Solabomi Oreagba as its new Chief Operating Officer.
The announcement comes at a time when reforms in Nigeria’s insurance industry are changing the market and opening up opportunities for digital-first players.
Oreagba steps into the role with more than 17 years of leadership experience in corporate risk management, financial planning, and operational transformation.
She has held senior positions across energy, aviation, and infrastructure, including her most recent role as General Manager, Fulfilment and Corporate Services at Viathan Group.
At Casava, her focus will be on scaling processes, strengthening operations, and preparing the company for rapid growth under the new insurance framework.
“The future of insurance is not just about technology; it’s about building operational resilience that can adapt to rapid market changes and consumer needs,” said Bode Pedro, founder and chief executive of Casava.
“Solabomi’s expertise in streamlining complex systems and her deep understanding of business transformation are precisely what we need to scale our mission. Her leadership will be instrumental in not only managing our growth but in defining the operational gold standard for the African insurtech landscape.”
Her arrival coincides with the signing of the Nigeria Insurance Industry Reform Act (NIIRA) 2025, a law that consolidates outdated regulations and pushes the industry into a new growth era.
The legislation raises capital requirements, mandates insurance coverage for sectors like agriculture, SMEs, and cyber liability, and requires insurers to digitise licensing, claims, and reporting. Analysts project the market will expand from ₦2.2 trillion today to nearly ₦8 trillion by 2030.
For Casava, a pioneer of subscription-based insurance that delivers health, income protection, and life policies directly via mobile platforms, the timing is strategic.
The company’s API-driven onboarding process allows Nigerians to secure cover within minutes, a feature that aligns directly with the NIIRA 2025 digital-first mandate. With insurance penetration in Nigeria still under 3%, the reforms present fertile ground for Casava to expand aggressively.
“I have always believed that true innovation is only as effective as the operational foundation that supports it,” said Oreagba. “I am honoured to join Casava, a company that is not only revolutionising the insurance industry but is also making a tangible difference in the lives of everyday Nigerians.
“My focus will be on building scalable processes and fostering a culture of continuous improvement, ensuring that we can deliver on our promise of accessible and delightful insurance experiences as we enter this next phase of hyper-growth.”
Casava’s investors, including Enza Capital and Techstars, have backed its inclusive approach, which has already earned it a place in global insurtech rankings.
With the regulatory changes now in force, the company is positioned to push further into compulsory insurance categories, expand partnerships with telcos and digital banks, and serve the growing gig and informal economy.
The National Insurance Commission (NAICOM) has pledged tough enforcement of the new law, including digitisation across the value chain, faster claims resolution, and tougher penalties for unregistered agents. Industry analysts anticipate mergers, foreign capital inflows, and deeper regional integration through frameworks such as the ECOWAS Brown Card System.
The appointment of Solabomi Oreagba by Casava is the company’s aim to anchor its operational structure ahead of the sector’s transformation. Her mandate will be to ensure the company is well positioned for growth and resilient enough to change the standard for the market’s sustainable.
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