A portal has been unveiled in Lagos to increase access to insurance service, broaden coverage, ease brokerage and enhance interaction between the market and the insurers.
The digital interface, according to the host, eTranzact International Plc, would make insurance business fun and convenient in the new normal. The package was rolled out by eTranzact in partnership with Akko Global.
The platform, the Nigerian Insurance Supermarket (NISMART), will enable users select an insurance product from a pool, process, pay and collect certificate seamlessly. The Chief Executive Officer of eTranzact, Niyi Toluwalope, said that 15 insurance firms have signed up on the dashboard, which he said would transform insurance business, increase competition and serve as ready tool for brokers.
“Having recognised the significant impact of the insurance sector on the economy, there is no better time to launch this insurance solution than now. This goes to demonstrate our pro-activeness in ensuring there is a trusted and reliable platform that caters to the insurance needs of Nigerians amidst COVID-19. Customers need quick, easy, smart, convenient and trusted access to purchase any kind of insurance cover,” he stated.
According to Toluwalope, the platform is a single digital market place where anybody could visit to buy any insurance product of his choice. He said that it would increase efficiency and bring down the prices, which would expand the reach of insurance. He added that the product would increase transparency as it provides an opportunity for users to give feedback on available products and insurers.
On his part, Deputy Managing Director of the company, Hakeem Adeniji-Ade, said the portal would democratise the insurance business and simply buying decision-making. He said: “There are a lot of insurance companies that are regional and state-based. This will give such companies access to the market. There are massive opportunities for brokers and insurance compannies to boost sales.