Veritas Kapital MD Charts Path to Boost Insurance Penetratio
Veritas Kapital Assurance is launching a new retail insurance strategy to increase penetration in Nigeria, where current coverage remains below one percent. The company aims to overcome cultural and structural barriers by offering affordable, tiered insurance products starting at N1,750.
Why it matters
Expanding insurance access is crucial for the financial stability of small businesses and individuals in emerging markets, protecting them against economic shocks.
The Managing Director and Chief Executive Officer of Veritas Kapital Assurance Plc, Adaobi Nwakuche, has unveiled a comprehensive strategy aimed at dismantling the long-standing barriers preventing millions of Nigerians from accessing vital financial protection. Speaking on the company’s new direction, Nwakuche pointed out that cultural misconceptions and structural challenges had traditionally isolated the industry from the everyday citizen. She said, “Too many Nigerians still believe insurance is beyond their reach or only meant for large organisations. “We are changing that perception by providing affordable insurance solutions that anyone can access. Whether you are a salary earner, a trader, a young professional or a small business owner, you deserve the peace of mind that comes with financial protection.” The initiative comes at a critical time for the nation’s financial sector.
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