Cubecover, a dynamic new entrant into Nigeria’s insurance technology sector, has laid out an ambitious plan to provide affordable insurance to over 10 million Nigerians by 2027. Leveraging strategic partnerships with healthcare providers, fintech platforms, network providers, and insurers, Cubecover has already processed over 400,000 policies and thousands of enrollees receiving medical care and processing claims, they are set to redefine how Nigerians engage with insurance by offering user-centric, tech-enabled solutions.
Enrollees benefit from streamlined claims processing, allowing quicker access to insurance protection and financial support during emergencies. The company’s innovative approach aims to bridge the gap between underinsured populations and accessible healthcare, leveraging technology to streamline services and ensure transparency in claims processing.
“Insurance should be affordable, accessible, and trustworthy for every Nigerian. Our platform simplifies the process, bringing peace of mind to individuals and families while enhancing the efficiency of the overall system.” said Deji Macaulay, CEO of Cubecover, at the company’s launch event.
Cubecover’s partnerships with network providers and fintechs ensure that policy holders stay informed through regular updates and reminders, helping them take full advantage of their coverage. Meanwhile, healthcare providers partnering with Cubecover benefit from a steady influx of insured patients, with simplified claims processes that reduce administrative tasks and allow them to focus more on patient care. Financial institutions involved in the platform also benefit from Cubecover’s seamless integration and improve customer loyalty by offering value-added services to their clients, ultimately driving more engagement and trust.
The Chief Technical Officer, Sam Ishie shared results from a survey carried out by the company, indicating that less than 3% of Nigerians are currently insured. This is the driving force behind the strategic partnerships Cubecover has initiated to improve insurance penetration, by connecting service providers, network providers, and financial institutions. The platform simplifies access to care, makes claims processes transparent and reduces wait time. This integrated approach not only strengthens relationships with partners but also improves customer satisfaction.
Looking forward, Cubecover aims to democratize insurance further by expanding its offerings to include products like life, property, and auto insurance. By centering solutions around customer needs and integrating seamlessly with service providers and financial institutions, Cubecover is positioned to become a game-changer in the Nigerian insurance industry.
At the brand launch, a panel session was put together consisting of leaders in the insurance, telecommunications and finance industries, including Cubecover CEO, Deji Macaulay; Chief Digital Officer, MTN Nigeria, A’isha Mumuni; Chief Distribution Officer, AXA Mansard Jumoke Odunlami and Head of Wealth Product, PalmPay Habib Kowontan discussing how mobile platforms can expand insurance accessibility in Nigeria. There was an acknowledgement by all that the current process of signing up for insurance and receiving claims could be simplified and innovative partnerships would foster solutions to the challenges currently faced in the industry.
Cubecover’s entry signals a new era for insuretech in Nigeria, combining cutting-edge technology with an understanding of local needs and peculiarities. With a commitment to inclusivity, accessibility, and reliability, Cubecover is poised to transform the insurance landscape, offering Nigerians the coverage and peace of mind they deserve.
Others that graced the event were AXA Mansard Health, CEO, Tope Adeniyi; Director Marketing of Globacom, Viju Unnitan; Chief Digital Officer, 9Mobile, Ina Alogwu; Leadway Health CEO, Dr. Tokunbo Alli and Director – Entrepreneurship and Skills Development Centre, UNILAG, Prof. Sunday Adebisi.
Also were Partner at Verod Capital, Daniel Adeoye; Executive Director, Institute of Counselling, Dr Tolu Oko-Igaire; General Manager, Digital Services, MTN Nigeria, Funsho Finnih; Managing Director, Sony Music Publishing Nigeria, Godwin Tom and Convener, Premia Business Network, Bola Lawal.
Their presence underscored the impact of their solutions and the importance of innovation in InsurTech. Attendees hailed the company’s mission to revolutionize customer-centric insurance solutions through cutting-edge technology and data analytics, positioning Cube Cover as a transformative force in this rapidly expanding market.
