By Chinenye Anuforo
Enterprise Life Nigeria has announced its commitment to driving digitized insurance solutions across the country. This commitment is underscored by the company’s expansion strategy, with the opening of two new branches in Abuja and Port Harcourt.
This strategic expansion marks a significant step towards Enterprise Life’s mission: to deepen insurance penetration in Nigeria. By increasing its physical presence, Enterprise Life aims to make reliable and tailored insurance services more accessible to a broader demographic.
Following the successful launch of AdvantageConnect, their innovative digital insurance platform built on geolocation technology, Enterprise Life continues to be a pioneer in solutions that cater to the evolving needs of its customers. Despite the critical need for insurance, adoption rates remain low, particularly among the youth, due to misconceptions and lack of awareness.
A recent report by the UNDP stated that less than two percent of Nigerians have any form of insurance, highlighting the slow pace of innovation in the sector. AdvantageConnect bridges this gap by connecting users with professional lifeplanners who can provide financial planning, advisory services, and tailored insurance solutions.
In addition to its digital solutions, Enterprise Life is launching educational programs aimed at the younger generation. These initiatives emphasize the importance of insurance as an integral part of financial planning and security, fostering a culture of financial literacy and responsibility among Nigerian youth.
“Our expansion into these regions is a bold step towards transforming the insurance landscape in Nigeria,” said Funmi Omo, CEO of Enterprise Life. “There are a lot of conversations about financial inclusion, however, people remain unaware that inclusion is incomplete without the adoption of insurance to protect us against risk. That is why we are committed to empowering Nigerians with the advantage they need to secure their future. By advantage, we mean adequate knowledge, tools, and dedicated lifeplanners whose primary role is to assess the individual lifestyles of our clientele to develop tailored insurance solutions.”
“With this expansion, we aim to make insurance more accessible and inclusive, fostering a new generation of financial literates who view insurance as an essential component of financial planning,” Omo emphasized.
Enterprise Life’s educational efforts will encompass financial literacy workshops across educational institutions. These workshops aim to demystify insurance, highlighting its benefits and empowering the youth to make informed financial decisions. Additionally, the #LearntheAdvantage series on social media will provide engaging and informative content to promote financial literacy and encourage insurance adoption among young Nigerians.
By creating employment opportunities and enhancing financial literacy, Enterprise Life aims to stimulate local economies and support youth development. With over three years operating in Nigeria, these new branches will play a crucial role in fostering a financially literate and prepared generation, ultimately driving Nigeria’s economic growth.
