The startup is targeting a problem many companies feel but rarely insure against, which is cloud outages that shut down operations, stall payments and damage trust within minutes. 

Mantas says downtime is no longer a technical issue. It is a clear financial risk, and it should be treated as one.

The seed round drew backing from Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate and a group of strategic angel investors. 

The funds will be used to build out its product, strengthen risk models and begin early deployments across the Middle East, North Africa and North America.

Cloud infrastructure now underpins everything from payments to flight bookings. When it fails, the impact is swift. But most companies still rely on service-level agreements, legal clauses or internal fixes that do little to cover actual losses. 

That gap is seen in how businesses respond after an outage, confusion first, financial pain later.

Mantas is taking a different route. Its policies are based on parametric insurance. That means payouts are triggered automatically once verified outage conditions are met, without drawn-out claims or negotiations. If the cloud goes down and the agreed threshold is crossed, the payment follows.

“Cloud downtime is now one of the largest unpriced liabilities in the digital economy, as outages at AWS and Azure in late 2025 demonstrated,” said Basil Mimi, CEO and co-founder of Mantas. 

“Businesses have engineered their systems for scale and speed, but the financial layer has not kept up. Parametric insurance allows us to turn cloud outages into a measurable and insurable risk, giving companies certainty at the exact moment they need it most.”

The company focuses on digital-first sectors where constant uptime is necessary. These include fintech, airlines, e-commerce platforms, software providers and regulated enterprises. 

Alongside coverage, Mantas provides real-time monitoring that shows firms how exposed they are and where weaknesses sit, before something breaks.

The idea behind the company came from a moment. Mimi was trying to order food when an outage rippled across systems. What looked minor quickly turned into reputational damage and financial loss for the business involved. 

From his background as a software engineer, what l stood out was that the outage could be measured, but the loss was not insured.

That mismatch is growing. Cloud usage is becoming more concentrated, especially around a few large providers. In North America, outages are increasingly wide-ranging rather than isolated. 

In the Middle East, governments and companies are moving fast into cloud-first setups. In both cases, financial protection has lagged behind dependence.

Investors say this link between real-world infrastructure behaviour and insurance is what sets Mantas apart.

“Downtime is often treated as a technical issue, but for digital businesses it’s increasingly a financial one. Mantas’ approach stood out to us because it ties insurance coverage directly to how infrastructure behaves in the real world, rather than how it’s described on paper. 

“That’s an important step forward for this type of risk.” said Arnav Danthi, principal at Nuwa Capital.

Plus VC also pointed to the team’s execution and focus.

“At Plus VC, we back exceptional founders building category-defining companies, and Mantas is a strong reflection of that conviction. The company is redefining cyber insurance through its technology-driven MGA model, combining tailored coverage with predictive analytics to address one of today’s most critical risks, cloud downtime. 

“What impressed us most is the team’s deep domain expertise, strong execution mindset, and their ability to translate complex risk data into actionable insights that help businesses proactively mitigate exposure. 

“We are excited to support Basil, Abdallah, and the Mantas team as they scale this differentiated platform regionally and beyond,” said Hasan Haider, founder and managing partner at Plus VC.

Ayat Alsabbagh, Principal of Suhail Ventures also said: “We are proud to be partnering with Mantas in leading the shift towards data-driven business protection. 

“The combination of Mantas real-time analytics with parametric insurance will significantly help companies minimise losses from cyber threats and cloud outages in a rapidly growing market. We believe Mantas is setting a new standard for securing enterprise continuity through innovative insurance solutions.”

Mantas plans to expand its insurance coverage as cloud systems become more connected and failures spread faster across services. The goal is to help businesses that lean into complex digital infrastructure, so they are not left exposed when that infrastructure fails.

The funding brings fresh support to a company trying to solve the problems of vast submission volumes, limited talent, and tools that haven’t kept pace with the insurance industry’s demands. 

The round was led by Stellaris Venture Partners, with backing from Y Combinator and Arali Ventures.

Pibit.AI’s founder Akash Agarwal watched the slow, paperwork-heavy world his father worked in and later saw tech-driven industries move faster while underwriting barely changed. That contrast eventually impacted the central idea behind the business.

At the centre of the company’s features is CURE, a consolidated environment that takes an application from raw submission to risk-rated output. It brings together document intelligence, triage tools, research layers, risk modelling and workflow management in one system, rather than leaving underwriters to jump between fragmented tools. 

The platform includes ClearCURE, DocumentCURE, ResearchCURE, RiskCURE and WorkflowCURE, each responsible for a step that used to rely heavily on manual effort.

Agarwal says the aim isn’t to remove the underwriter but to give them a system that can be trusted. “Pibit.AI was built around one idea: that AI should empower underwriters, not replace them,” he said.

“Too many systems prioritise speed over trust. We’re building something that’s transparent, explainable, and decision-ready – a system that gives underwriters confidence in every output while helping them move faster than ever before.”

Companies using the platform are already reporting a change in how much work their teams can handle. Several clients, including HDVI, Shepherd Insurance, RMS Insurance Brokerage, Kinetic and Method Insurance Company, have seen underwriting cycles cut by as much as 85%, alongside increases in premium per underwriter and improvements in loss ratios. 

For businesses dealing with high submissions, these margins can determine whether growth is sustainable.

Operational leaders inside these firms say the benefits are not theoretical. Michaela Morrison, COO of Method Insurance Services, explained the impact clearly: “As a fast-moving company scaling our operations nationally, Pibit.AI played a key role in ensuring we achieved that growth without losing control.” She added, “Our outcomes aren’t magic; they are the direct product of thoughtful engineering and a team that genuinely listens.”

Kinetic’s CEO, Adam Price, also pointed to the expansion the system made possible. “Pibit.AI helps us to handle more than a billion dollars in submissions on an annual basis without scaling our overhead costs, and grow our business by close to 100% in premium because we’re able to get those looks and quotes up and running.”

For investors, underwriting is too important to remain slow or inconsistent. Stellaris Venture Partners’ Alok Goyal said the platform addresses that directly. “Underwriting has long been constrained by manual reviews, inconsistent data and tools that haven’t kept pace with rising submission volumes,” he said. 

“With CURE, Pibit.AI automates and unifies these workflows, improving accuracy, reducing costs and accelerating quote generation to drive higher revenue. We’re excited to partner with Akash and lead Pibit.AI’s Series A round as it scales.”

Pibit.AI now employs more than 125 people and plans to deepen its infrastructure, expand integrations and build more advanced risk models.

The company also intends to broaden its API capabilities and secure additional data partnerships, making the platform adaptable to new lines of insurance and emerging risk categories.

The funding comes only six months after its $5 million seed round, pushing its total capital raised to $30 million.

At the heart of FurtherAI’s mission is a goal to put an end to the inefficiencies that have long burdened insurance professionals. For decades, underwriters, brokers, and claims handlers have relied on outdated systems and manual processes, spending hours sifting through spreadsheets, PDFs, and disconnected databases. 

FurtherAI wants to change that by automating workflows across underwriting, claims, and compliance, giving insurers the freedom to focus on risk management and client service rather than administrative tasks.

“Insurance is the backbone of the economy, but the people running it have been stuck with outdated tools,” said Aman Gour, co-founder and CEO of FurtherAI. “With this funding, we’re doubling down on building AI workflows that give underwriters, brokers, and claims teams superpowers — freeing them to focus on the work that truly matters.”

The Series A round, which also saw participation from Nexus Venture Partners and Y Combinator, reiterates the current interest in specialised technology in the insurance space. The company plans to use the new funds to expand its catalogue of insurance-specific workflows, strengthen integrations with major carriers and brokers, and scale its go-to-market efforts amid accelerating demand.

The insurance industry, estimated at $7 trillion globally, faces a convergence of challenges, from climate risk to regulatory pressures and a shortage of skilled professionals. Many insurers have attempted to deploy generic automation tools, only to find them inadequate for the industry’s complex documentation and compliance needs. 

FurtherAI provides what it calls an insurance-native workspace, designed to integrate seamlessly with existing systems while delivering precision and scalability.

Sashank Gondala, co-founder and CTO of FurtherAI, explained the company’s hands-on model: “We’re excited to partner with the insurance industry to unlock real value with AI — automating the busy work and opening new avenues of growth. With our forward-deployed engineering model, insurance teams work side-by-side with an AI engineer to ensure impact at scale.”

Already, the firm’s technology processes billions in premiums annually, powering submissions, policy comparisons, and compliance checks for major industry players such as Accelerant, MSI, and Leavitt Group. Early adopters report measurable improvements, including a 15% boost in submission-to-quote ratios, over 95% accuracy in policy comparisons, and up to tenfold faster proposal generation.

“The FurtherAI team has been a fantastic partner in rapidly standing up complex enterprise workflows,” said Venkat Raman, chief bizOps officer at Accelerant. Similarly, Laurie Flanagan of Leavitt Group noted, “Implementing FurtherAI has been game-changing — faster turnarounds, higher accuracy, and a platform we can keep expanding.”

For Andreessen Horowitz, the investment shows FurtherAI’s potential to boost the sector. “FurtherAI is redefining how insurance gets done,” said Joe Schmidt, Partner at a16z. “Aman and Sashank are technical founders whose customers see them as true AI partners, not just AI tools. Their early traction signals a generational opportunity to transform insurance.”

With this latest funding round, FurtherAI appears well-positioned to boost digital transformation in insurance, as efficiency and expertise finally go hand in hand.

As revealed by Africa: The Big Deal, that’s nearly 3.5 times more than the $85 million raised in January last year. This funding majorly came from the renewable energy, fintech, insurtech, and education sectors.

Investors are pouring money into Africa’s innovation sector, not allowing the challenges sway them. More than 90% of January’s funding—$262 million—came from equity deals, making it the second-largest January for startup equity financing since 2019, only behind the funding frenzy of 2022.

Big Money, Big Players

While there were 40 funding deals above $100,000 last month, the real game-changers were the 26 deals that were over $1 million—more than last year’s 21 high-value transactions. 

However, nearly 60% of the total funding was swallowed up by just four major deals, all originating from Africa’s biggest startup hubs: Nigeria, Kenya, Egypt, and South Africa.

The biggest winners of the month were:

• PowerGen (Energy): Raised over $50 million to expand its distributed renewable energy solutions across Africa.
• LemFi (Fintech): Secured $53 million to push into Asia and Europe, proving African fintech is now a global export.
• Naked (Insurtech): Bagged $38 million in a Series B round to automate and diversify its insurance offerings.
• Enko Education: Pulled in $24 million to continue expanding its African school network.

Where Does This Leave the Rest of Us?

The tech sector is clearly off to a strong start in 2025, but this cash inflow is a big contrast to the financial issues of everyday Africans. While startups thrive, inflation keeps rising, wages remain stagnant, and the naira keeps playing hide and seek with stability.

Last year, African startups raised a total of $2.2 billion, a drop from the $2.9 billion in 2023, but the numbers show that there could be a rebound. 

If this pace continues, investors will keep betting big on Africa’s tech—even if the rest of the continent is left wondering when that wealth will finally trickle down.

Industry leaders and delegates from about 70 organisations, including technology, insurance, insurtech, and Health Maintenance Organizations (HMOs), converged at this prestigious event to discuss the future of insurance and technology in the country.

The conference revolved around “Unlocking policy and tech bottlenecks hindering disruptive insurance penetration.”

Here are the key takeaways from this groundbreaking event.

Collaboration for a Brighter Future

One of the standout features of IMT 2.0 was the emphasis on collaboration between underwriters and technology service providers.

The goal is to enhance customer experiences, build trust, and expand service reach across Nigeria.

This collaboration is a response to the significant increase in health insurance premiums, contributing to Nigeria’s cumulative insurance premium exceeding one trillion Naira in 2022.

The Vision of IMT

Odion Aleobua, the convener of IMT, highlighted the conference’s mission as a fusion of technology’s disruptive innovation and insurance’s wealth preservation.

IMT serves as a catalyst for Nigeria’s drive for financial inclusion, bringing together the forces of tech and insurance.

Technology’s Pivotal Role

IMT 2.0 highlighted technology’s pivotal role in the industry, particularly emerging technologies like Artificial Intelligence.

These technologies have the potential to drive significant growth and financial stability.

The conference emphasised the need for infrastructure, entrepreneurship, and consumption to fuel digital transformation.

Innovations in Customer Engagement

Insurtech played a crucial role in helping the insurance industry navigate challenging times.

Panel discussions at IMT 2.0 focused on leveraging insurtech for innovative product development, customer acquisition, engagement, and retention, all essential in the ever-evolving landscape.

Call for Regulatory Support

Delegates at the conference called upon regulators to collaborate with innovators to identify barriers to innovative solutions within the industry. While advocating for stringent regulations for underwriters, they emphasised the need for tech service providers to be audacious in developing sales channel solutions that facilitate market penetration.

Health Insurance Enhancement

IMT 2.0 underscored the need to leverage digital technology and telemedicine to improve the quality of health insurance services, particularly in underserved rural areas where specialised medical services are lacking.

Innovative Micro-Insurance Initiatives

Delegates agreed that there is a need for insurtech to collaborate with partners like retailers and insurance companies to build solutions that will help meet the needs of grassroots consumers.

There is to build technological solutions that will allow insurance companies to integrate their products into platforms for enhanced penetration, leveraging third-party platforms and cross-selling strategies.

Awards of Excellence

IMT 2.0 marked a significant moment as awards were given to notable industry players, recognising excellence in various categories.

• Insurance Company of the Year: Leadway Assurance.
• Insurance and Insurtech Collaboration of the Year:  AIICO-ETAP
• Promising Product of the Year: FastClaim.
• Micro-Penetration for Financial Inclusion Award: Awabah.

More about Insurance Meets Tech (IMT)

IMT is dedicated to accelerating growth within Nigeria’s insurance and insurtech sectors.

Established in 2021, IMT made its inaugural debut in 2022. The conference brings together leaders from Africa’s finance and tech sectors to drive innovation, collaboration, and progress in the insurance industry.

With each edition, IMT continues to serve as a platform for sharing ideas, insights, and experiences in leveraging technology for insurance penetration and industry efficiency.

IMT 2.0 was a resounding success, showcasing the potential of collaboration between technology and insurance to revolutionise the sector in Nigeria.

As the industry continues to navigate challenges and embrace innovation, the future looks promising, focusing on expanding insurance coverage, improving customer experiences, and driving digital transformation.

This groundbreaking event will serve as a nexus for early-stage startups in the insurance and insurtech sectors, connecting them with potential funding partners and seasoned mentors who can catalyze their growth and innovation.

The #IMT2023 Conference, scheduled for September 28-29, 2023, is poised to become a pivotal platform in the insurance and insurtech landscape.

This partnership is designed to empower startups, providing them with the tools and resources they need to ascend to new heights.

This year’s edition of the conference will enable entrepreneurs eager to revolutionize the insurance industry or tech enthusiasts passionate about innovation by connecting them with the opportunity to connect with stakeholders to ignite their enterprise journey.

Attendees will also have the exclusive possibility to glean invaluable insights from leaders of prominent organizations, including Microsoft, Casava Insurance, Leadway, AIICO, and many more, who will lead discourses, make insightful presentations, interrogate case studies and showcase demos on innovative solutions.

These industry trailblazers will share their knowledge, experiences, and visions for the future, providing a unique learning experience that attendees won’t find anywhere else.

David Lanre Messan, the visionary founder of FirstFounders, expressed his enthusiasm for the event, stating, “Our collaboration with Insurance Meets Tech represents a tremendous opportunity for early-stage startups to access the support they need to thrive. Together, we are fostering innovation, entrepreneurship, and growth within the insurtech and insurance ecosystem.”

Odion Aleobua, the convener of IMT, echoed these sentiments, saying, “At #IMT2023, we are bringing together the brightest minds in insurance and technology to drive innovation, collaboration, and disruption. We invite startups, investors, and industry leaders to join us in shaping the future of insurance technology.”

With delegates from over 50 leading insurance and tech organizations confirmed to attend, #IMT2023 is on track to become the premier event for fostering connections, knowledge sharing, and transformation within the insurance and insurtech sectors.

Don’t miss your chance to be part of this historic event. Secure your seat at the Insurance Meets Tech Conference #IMT2023 today by visiting here.

Early registration is encouraged, as spaces are limited, and demand is high.

The stage is set for the most significant convergence of insurance, insurtech, regulators and tech stakeholders in West Africa as leading tech and insurance brands – such as Microsoft, Leadway Assurance Company Limited, aYo Nigeria, and Old Mutual have been onboarded as sponsors, while partnership discussions are advancing to onboard more brands and organisations ahead of the eagerly anticipated INSURANCE MEETS TECH (IMT) Conference.

This prestigious event is poised to take place over two days, featuring influential speakers, live demonstrations, masterclasses, and unparalleled networking opportunities.

The conference is scheduled to be held at the Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos, drawing in over 3000 participants, including industry leaders, tech innovators, thought pioneers, and policy influencers.

From September 28 to September 29, 2023, the venue will come alive with insightful discussions, groundbreaking product showcases, and an electrifying collaborative learning atmosphere.

Odion Aleobua, the Convener of INSURANCE MEETS TECH (IMT), expressed his excitement about the monumental collaboration of these industry giants. He stated, “We are thrilled to have Microsoft, Leadway, aYo Nigeria, and Old Mutual already as our esteemed sponsors for this year’s event. Their participation underscores the growing importance of the convergence with technology in revolutionising Nigeria’s insurance landscape. This conference is a unique platform that brings together visionaries, experts, and enthusiasts to chart the future course of insurance and insurtech in West Africa.“

With more than 50 distinguished speakers, 20 live demos, and insightful masterclasses, attendees can anticipate a transformative experience. The event will showcase cutting-edge insights and innovations at the intersection of insurance and technology. Power-packed plenary sessions, captivating waterfront exhibitions, VIP networking lounges, and innovation hubs will provide an all-encompassing journey through the evolving landscape of the insurance industry.

This year, INSURANCE MEETS TECH (IMT) aims to foster collaboration, inspire innovation, and facilitate dynamic discussions that will shape the future of insurance and insurtech in the region. Attendees can register for the event by visiting here  and securing their spot at this transformative movement’s forefront.

Meanwhile, already confirmed Official Media Partners for this year’s edition of INSURANCE MEETS TECH (IMT) are Nigeria’s leading financial newspaper, BusinessDay; Techeconomy, Nairametrics and Techpoint Africa.

Today, we will examine the treasury and financial management sub-space in Nigeria and how much opportunity it provides for founders across the country.

ICYMI: There are 144 fintech startups in Nigeria. The fintech market is made up of 38% of payments, mobile money, and digital banking; 23% of lending; 15% of savings, investments, and crowdsourcing; 13% of infrastructure and business services; 8% of cryptocurrencies; and 3% of insurtech.

Fintech activity in Nigeria began with payments and expanded into other areas, following the evolution of fintech in other economies. Currently accounting for 15% of all banking revenue in the nation, payment solutions are expanding. Beyond this, the focus of fintech activity can shift to a greater extent to asset and financial management.

Treasury and financial management represent an unexplored opportunity for those who can use technology to deliver affordable financial services in Nigeria. Although the SME market is still underdeveloped, a few firms are beginning to gain ground in this space.

A Lingering Opportunity

Cash flow is the lifeblood of every firm. The crucial functions of managing current and future cash flows, making sure there is enough working capital to meet financial responsibilities, and investing assets for future operations fall to the treasury and finance teams.

Strategic finance, risk management, and cash management form the three pillars around which treasury teams are organized. Recent months have seen a surge in asset management fintech startups, including FreshBooks,  Wave, Zoho Invoice, Kippa, and Expensify, offering users the opportunity to efficiently manage their finances.

Before the emergence of startups focused on SME-based financial management, Nigerian small businesses had trouble keeping track of their everyday transactions. Accounting involves a systematized method of identifying, recording, measuring, classifying, verifying, summarizing, analyzing, and interpreting financial information, as well as communicating it.

To ensure that the goals of internal control are being met, an inexperienced or misinformed small business owner will go through this procedure to determine their profit or loss for a given period, as well as the worth and nature of a firm’s assets and liabilities.

Unfortunately, despite the surge in SMEs in Nigeria, treasury and financial management-focused startups are still lacking in the country. According to McKinsey, fintech activities in savings and investments, lending, and payments have increased in recent times. But the same cannot be said of asset management.

Facing a New Vertical

Several Nigerian SMEs will appreciate models that can offer passive and active portfolio management. Unfortunately, many small businesses rely on manual reconciliation. Several reports have noted that small businesses in Nigeria fail as a result of their inability to manage assets.

In the current economic environment of rising interest rates, fintech innovators have a chance to provide small companies with greater returns on idle capital. It is a great approach for established players to gain trust through asset management on the path to controlling larger financial flows to offer cash returns to businesses in addition to fund insurance, quick liquidity, and automated portfolio management.

Treasury and financial management company founders must connect a variety of ERPs, bank accounts, cards, general ledger totals, and balance sheet totals in real-time to succeed in the expanding industry.

With every industry guided by regulations that keep stakeholders in check, the Fintech industry inclusive, how can fintech enterprises not only ensure compliance but also thrive in the face of regulatory challenges?

With many laws and regulatory policies on data protection and privacy, fintechs need to place top priority on how they leverage business intelligence.

From areas of banking/open banking, insurtech, blockchain, cryptocurrency, contracting, and lending, fintechs are laden with many regulatory challenges because people care about their money and how their personal data are used.

This article delves into the regulatory challenges faced by fintech firms regarding Business Intelligence and outlines strategic steps to navigate through them successfully.

Defining Regulatory Challenges with Business Intelligence

The fintech industry operates within a highly regulated environment due to the sensitivity of financial data and the potential risks associated with innovative financial services.

Compliance with regulations such as Anti-Money Laundering (AML), Know Your Customer (KYC), General Data Protection Regulation (GDPR), and others is non-negotiable.

Understanding regulatory standards is the first step in developing an effective Business Intelligence strategy.

Regulatory challenges within the fintech sector are multifaceted, encompassing a myriad of laws, guidelines, and compliance requirements. The key regulatory challenges can be broadly categorized into:

1. Data Privacy and Security Compliance: Fintech companies handle vast amounts of sensitive financial data, subject to stringent data protection regulations such as GDPR, CCPA, SOC, or regional equivalents. Business Intelligence tools need to ensure robust encryption, access controls, and audit trails to comply with these laws. Consumer financial information protection is a core component of FinTech Regulatory bodies concerned with data privacy can sanction companies for not following proper risk management and meeting standards around customer data.

2. Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulations: Fintech firms must implement Business Intelligence solutions that facilitate comprehensive customer due diligence and transaction monitoring to adhere to AML and KYC These tools need to provide real-time insights to detect and prevent suspicious activities effectively.

Governments take money laundering seriously.

They recognize that FinTech technology could be used to avoid duties. As such, each territory has its anti-money laundering laws which must be adhered to.

3. Financial Reporting Compliance: Regulatory bodies demand accurate and timely financial reporting. Business Intelligence systems need to streamline financial data collection, analysis, and reporting processes to ensure compliance with regulations like IFRS or

4. Cyberattack protection policy: Traditional banks and FinTech startups are big targets for hackers and other cybercriminal activities. There are financial laws designed to combat

Data breaches and lack of adherence to these regulations have caused many companies, big global companies inclusive, huge problems and lawsuits.

Steps to Navigate Regulatory Challenges

1. Conduct a Comprehensive Regulatory Assessment

Begin by conducting a thorough assessment of the regulatory standards applicable to your fintech business. Understand the specific requirements and nuances of each regulation that impacts your operations.

2. Invest in Robust Business Intelligence Solutions

Choose Business Intelligence tools that are designed with compliance in mind. Look for solutions that offer encryption, access controls, and audit capabilities to ensure data security and integrity.

3. Implement Data Governance Frameworks

Establish robust data governance frameworks to ensure the quality, accuracy, and integrity of the data used by Business Intelligence systems. This involves defining data ownership, implementing data quality controls, and maintaining a transparent data lineage.

4. Continuous Monitoring and Reporting

Implement real-time monitoring capabilities within Business Intelligence systems to promptly detect and address compliance issues. Generate automated reports that provide stakeholders and regulatory authorities with the necessary insights in a timely manner.

5. Stay Informed and Adapt

Regularly update your knowledge on evolving regulations in the fintech sector. Ensure your Business Intelligence systems are flexible enough to adapt to changes, and update them promptly to align with new compliance requirements.

6. Collaborate with Regulatory Bodies

Foster open communication with regulatory bodies to stay informed about upcoming changes and seek guidance.

Proactive collaboration can lead to a better understanding of regulatory expectations and may even result in more favorable compliance conditions.

Navigating regulatory challenges with Business Intelligence in the fintech industry requires a strategic and proactive approach.

By understanding the regulatory standards, investing in robust Business Intelligence solutions, and implementing effective governance frameworks, fintech companies would not only meet compliance requirements but also leverage Business Intelligence to drive innovation and growth.

To this end, the Fintech Association of Nigeria (FintechNGR), and the Nigerian Insurers Association (NIA) embarked on a journey to further upskilling players in the space of a tailored ‘Digital Insurance’ workshop series.

It would be holding the 3rd edition of this workshop, Digital 301, from the 17th to 18th of May, 2022

In recent years, Insurtech has evolved from the digitization of insurance processes to the advanced deployment of technological innovations like AI, Big Data, ML, IoT and a couple of other tools to managing the entire process from assessment to claims. Hence, industry professionals must be brought up to speed with the rapid transformation taking place in the space if there would be a significant jump in the adoption rates.

Digital 301 is targeted at equipping participants with advanced technical knowledge of navigating the relatively complex world of insurance using digital insurance (insurtech).

The objectives for this edition include analyzing business trends to maximize value impact for players, leapfrogging over risk & financial outcomes to unlock deep-level strategy and new economies for end-users, and in-depth review of emerging technologies shaping the space and leveraging on it to scale, amidst others.

In the first and second legs of the ‘Digital Insurance’ training series, Digital 101 & 201 respectively, participants were taken through insurtech trends, market segments, consumer profiling and understanding of the value chain from the lenses of digital insurance.

There were also hands-on case studies analysis, the adaptation of principles to real-world challenges as put forward by participants and a couple of system & process reviews.

For this edition, participants will be exposed to learnings, ideas, methods and technology on evolving insurance to meet the needs of end-users as well as gain trust whilst ensuring the possibility of qualitative coverage in the next normal.

With the bespoke curriculum developed by the Africa Insurtech Lab and skilled facilitators – Dr Tunde Salako, Founder & CEO, Africa Insurtech Rising and Carolina Locarno, COO & Partner, Africa Insurtech Rising, participants would be leaving the training with a strengthened grasp on insurtech and the extensive verticals.

If you are a professional, stakeholder or a corporate entity, and would like to participate or be a part of this training, register here.

For more information, reach out to FintechNGR at exec.sec@fintechng.org or call 09030003013.