Time for “paystack for insurance”
In the 1990s, the new generation banks began a new ordinance in the Nigerian banking sector. Most of those banks today are the leaders in our stock market. But while the banks have experienced a massive level of transformation, the insurance sector has remained largely unchanged. I am extremely confident that the insurance sector offers a promise. But unlocking that promise will happen via a new playbook. How do we build the “paystack for insurance” and drive adoption by improving the product, and reducing the distribution friction? Time to #build
Indeed. The untapped financial services is insurance.
This is seen with TOE move into the sector, Herbert Wigwe plans to move holdings so as to accommodate for insurance.
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Thus, the next "paystack" would be on that sector.
That said, in a piece I posted here, I argued that for that sector to thrive and capture more value it should be sector focused i.e. Zido Insurance for Logistics, for it specific niche.
I am hope that the hoodlums hijack of Endsars and the havoc caused could onboard more people.
Good morning.
