Stakeholders in the insurance industry must adopt artificial intelligence (AI) to change the customer experience in the country.
This was stated by the industry’s players who gathered at the 13th yearly Nigerian Insurers Association (NIA) Chief Information Officer (CIO) 2025 in Lagos recently.
Speaking at the forum, the Chairman Nigerian Insurers Association (NIA) Information Technology Committee, Jackson Ikeibe, argued that automating processes could reduce operational costs, making insurance products more affordable. Ikeibe said AI has the potential to provide a new frontier of economic opportunity and stimulate sustainable growth.
AI acceptance in the country is still in its infancy despite the growing number of startups and established businesses using AI solutions to deliver customer services.
He said AI would help insurance practitioners to optimise the number of things they are currently doing and offering.
“A lot of data comes into it, and in the process, we can use artificial intelligence to do mining and analytics that align with the data and engender the type of products policyholders want. When artificial intelligence is fully entrenched, we would have a better insurance industry that is responsive to customer needs,” he submitted.
On building centralised data in the insurance industry, he said the Nigerian Insurance Industry Database (NIID) platform has helped to centralise data in the industry, stressing that the platform has helped the industry to have a handshake with security agencies in enforcing compliance.