Heirs Insurance Chief Urges AI Adoption to Transform West Africa’s Insurance Industry
Niyi Onifade, Head of Heirs Insurance Group, emphasized the transformative potential of Artificial Intelligence (AI) in revolutionizing the insurance sector during his keynote at the West African Insurance Companies Association Conference in Ghana. He highlighted AI’s ability to automate claims, enhance risk assessments, and personalized customer service, presenting it as a vital tool to address the low insurance penetration in the region.
Onifade pointed to Heirs Insurance Group’s commitment to leveraging AI to improve financial inclusion, streamline operations, and deliver superior customer experiences. He stressed the urgency for the insurance industry to adopt AI to stay competitive and meet the demands of digitally savvy consumers in an evolving market.
Concluding his address, Onifade called for stakeholder collaboration to embrace AI and establish supportive regulatory frameworks. He urged the industry to seize this opportunity to drive innovation, reduce costs, and expand access, ensuring the insurance sector remains relevant and impactful in the digital age.
