We are proud to announce the second edition of our Insurance Meets Tech (IMT) conference,
set to take place on September 28 and 29, 2023 at the Civic Centre, Victoria
Island Lagos, to address prevailing concerns in Nigeria's insurance industry
and on the continent.
IMT 2.0 aims to pivot on the success
of the inaugural edition in September 2022, which brought together some of the
biggest names and leaders in the continent's finance and tech sectors.
Riding on this year's theme,
"Unlocking Policy and Tech Bottlenecks Hindering Disruptive Insurance
Penetration", IMT 2.0 will broaden participation with the convergence of
the most prominent players in government, finance, health, tech, and telecom
sectors, as well as the prime sub-sectors players in insurance and insurtech,
to brainstorm, untangle, and evolve viable solutions to the challenges of
insurance penetration in Nigeria and across Africa.
The two-day trade show will feature
policymakers, regulators, keynote speakers, and sector leaders in panel
discussions, exhibitions, specialised masterclasses, and product and service
demos, providing a platform for stakeholders to share ideas, insights, and
experiences on how to leverage technology to drive insurance penetration and
improve the insurance industry's efficiency and effectiveness, such as its use
of data analytics to improve underwriting and claims management processes;
cyber insurance; and the role of web aggregators in the industry's value chain.
The conference will culminate in a
gala and awards evening to recognise excellence and outstanding contributions
in the industry. With the COVID-19 pandemic and enabling government policies
accelerating the adoption of digital technologies, IMT 2.0 is expected to be a
catalyst for the digital transformation of the insurance industry in Nigeria
and across Africa.
According to the conference
convener, Odion Aleobua, "IMT 2.0 will be a game-changer for the insurance
industry in Nigeria and across Africa. This second edition will build on the
successes of the first and provide stakeholders with more opportunities to network,
collaborate, and explore innovative solutions to the industry's challenges.
"Since the inaugural edition of
the conference in September 2022, the Nigerian insurance and insurtech sectors
have made visible strides. The National Insurance Commission (NAICOM) affirmed
that Nigeria's insurance industry recorded a 36.3% quarter-on-quarter growth and
a 17.8% year-on-year rise in gross premium income at N726.2 billion in the
fourth quarter of 2022, compared to the previous year.
"Data provided by Statista in
May 2023 revealed that the value of gross life insurance premiums written in
Nigeria exceeded €600 million for the first time. In 2022, life insurance
premiums amounted to €677.3 million, up from €545.2 million in the previous
year. The growth margins can be attributed to various factors, including
increased awareness of insurance products, the expansion of distribution
channels, and insurance companies' gradual adoption of technology.
"Statista also stated that 'in
2022, the value of gross property and casualty (P&C) insurance premiums
written in Nigeria amounted to almost 800 million euros. This figure is
believed to be the highest value since 2000 as P&C premiums increased by
100 million euros between 2021 and 2022.'
"These figures are, however,
dwarfed in comparison to the country's South African counterparts, where the
value of gross property and casualty insurance premiums written amounted to
approximately €5 billion in 2022, and P&C premiums peaked in 2021 when they
reached €9.35 billion. The gap is further broadened when considering global
insurance industry figures, which, according to McKinsey and Company's Global
Insurance Report 2023: 'Closing the Personal P&C Protection Gap', surpassed
$6.5 trillion in GWP in 2022, with P&C representing almost one-third of
"We have thus carefully
selected our speakers and panelists from industry leaders, tech giants, and
government regulators to ensure that conference delegates get the best insights
and experiences on how technology can unlock policy and tech bottlenecks
hindering disruptive insurance penetration. IMT 2.0 promises to be bigger,
better, and more impactful", Odion added.
information and registration details, please visit https://insurancemeetstech.com/.
For partnerships, sponsorships, and other inquiries, contact
IMT aims to accelerate the local
insurance and insurtech sectors by providing a platform for stakeholders to
share ideas, insights, and experiences on leveraging technology to drive
insurance penetration and improve the efficiency and effectiveness of the
Conceptualised, designed, and executed in 2021 by one of Africa's most innovative award-winning marketing communications agencies, Modion Communications, IMT held its inaugural edition in 2022, bringing together some of the biggest names and leaders in the continent's finance and tech sectors, such as Ecobank Nigeria, Old Mutual Nigeria, Leadway Assurance, aYo Fintech, Curacel, ActiveEdge Technologies, Microsoft Nigeria and Africa's leading telco, MTN.
The conference also enjoyed the participation of sector policy players like the Nigerian Insurers Association (NIA).