Technology Innovators Display Solutions at NIA Innovation Lab Demo-day

Ebere Nwoji

The Nigerian Insurers Association (NIA) has unveiled four innovators, namely: Bunce, Mycover.ai, Riwe Technologies and SEAMFIX as finalists to pitch their improved solutions designed for the 2025 NIA Innovation Lab Demo-Day.

The start-ups showcased their solutions to insurers, investors, and industry leaders for potential adoption, partnership and investment at the Insurers House, Victoria Island, Lagos.

In his welcome address, the NIA Chairman, Mr Kunle Ahmed, said that the gathering was not only to showcase ground-breaking ideas but also to reaffirm the insurance industry’s unwavering commitment to innovation as the cornerstone of its future.

Ahmed, who is also the Managing Director, AXA Mansard Insurance Plc, represented by the NIA Deputy Chairperson and Managing Director, REX Insurance Limited. Mrs Ebelechukwu Nwachukwu, stated that though insurance has always been about trust, resilience, and protection, in today’s rapidly evolving world, these values must be delivered through new channels, technologies, and mind-sets.

He noted that innovation was no longer optional but the lifeblood of relevance in a digital economy, encompassing technology integration, customer-centric solution, and data-driven insights.

“Our commitment to innovation is not a slogan; it is a pledge. A pledge to invest in research and development that keeps us ahead of global trends, champion regulatory frameworks that encourage experimentation while protecting consumers,” Ahmed stated.

Also speaking, the Chairman of the 2025 NIA Innovation Lab Committee, Mr Babatunde Fajemirokun, explained that the NIA innovation lab was established as a collaborative platform to accelerate transformation of the insurance industry.

Fajemirokun, who is also Managing Director, AIICO Insurance Plc, said the lab was designed to nurture ideas, incubate solutions, and provide a safe space for experimentation.