Insurance Meets Tech 2024 to spark innovation, youth engagement
By Esther Agbo
The third instalment of Insurance Meets Tech (IMT), a premier insurtech and insurance conference in West Africa, will take place on Friday, September 27, 2024, at the Balmoral Event Center in Victoria Island, Lagos, Nigeria.
Organised by Modion Communications, this conference aims to offer professionals a distinctive chance to reshape and enhance partnerships and foster collaboration between insurance and insurtech sectors, focusing on innovation and creativity to engage tech-savvy young Nigerians, particularly Gen Zs and Millennials.
Following the success of previous editions, which tackled themes like leveraging insurtech for customer acquisition and addressing policy and tech barriers in insurance penetration, this year’s event will adopt a disruptive format.
The event will be divided into two parts. The first, “IMT 3.0, The Collaborative Showcase,” will bring together experts from insurance, insurtech, cybersecurity, and finance sectors, featuring over 70 percent C-suite participation.
This segment will include VIP networking opportunities, product showcases, and industry discussions aimed at establishing valuable collaborations that will enhance the accessibility and effectiveness of insurance, utilising advanced technologies to increase insurance coverage in Nigeria and Africa.
The second part, “Insurance Meets Tech Redefined,” will be an immersive experience designed to engage Millennials and Gen Zs to view insurance as a lifestyle protection tool. Through interactive sessions, immersive games, and demo sessions, the event aims to bridge the gap in insurance awareness and education, while dispelling long-standing myths about insurance for the younger generation.
Project Director Precious Ubah highlighted the diverse lineup of speakers from various sectors, including finance, health, technology, and entertainment, who will drive forward-thinking conversations and redefine the perception of insurance.
“This year’s event will feature a diverse line-up of top speakers from investors, finance, health, insurance, insurtech, technology, fintech, entertainment, and afrobeat subculture.
“This curated mix will steer unprecedented conversations, redefine how insurance is perceived, and give attendees a distinctive experience, showcasing the synergy between insurance, tech, and creativity.”
Contributing, the CEO of Modion Communications, Odion Aleobua, emphasised the need to target Nigeria’s youth to improve the country’s low insurance penetration rate of 0.5 per cent.
He said, “According to a 2022 Insurance Industry Report by Augusto & Co, Nigeria polled an uninspiring record as the country with one of the lowest insurance penetration rates in Africa with only 0.5 per cent penetration. Nigeria needs a strategic market focus on its young people and its largest population group to change this position.
“However, a research paper from the University of Maribor states that most young people up to 35 have a negative opinion about insurance. The insurance industry must devote much more time to communication with our young people, the base of the next generation of consumers of non-banking financial products.
“This is one of the reasons for the two-pronged approach, for discussion and engagement. This year, we are taking a bolder step to bridging this gap between insurance and its target consumers.”
The event will feature two stages hosting regulators, investors, celebrities, tech innovators, and a participative youth audience. Previous editions have included major brands like Microsoft, Ecobank, Leadway Assurance, MTN, AXA Mansard, and Interswitch, and this year’s event promises even greater engagement and youth involvement most especially.
