At the West African Insurance Companies Association Conference in Accra, Niyi Onifade, Sector Head of Heirs Insurance Group, underscored the transformative potential of Artificial Intelligence (AI) for the insurance industry in West Africa. Speaking on the theme, “Artificial Intelligence and the Future of Insurance in West Africa,” Onifade emphasized how AI can automate processes like claims management, enhance risk assessments, and deliver personalized customer experiences. He positioned AI as a critical innovation for meeting the evolving demands of tech-savvy consumers in the region.
Onifade highlighted the low insurance penetration rate in West Africa and stressed the urgency for the industry to adopt AI to reach more customers, reduce costs, and improve efficiency. Heirs Insurance Group was presented as a leader in leveraging AI-driven solutions to enhance customer experiences, optimize risk management, and expand access to underserved communities. The company’s commitment to digital transformation demonstrates its ambition to drive financial inclusion and modernize the insurance landscape.
Calling for regional collaboration, Onifade urged stakeholders to create regulatory frameworks that support AI adoption while safeguarding consumer interests. Heirs Insurance Group, a subsidiary of Heirs Holdings, is committed to expanding its footprint across Nigeria and beyond through advanced digital platforms. Onifade’s vision sets a bold agenda for using AI as a catalyst for growth and innovation in the West African insurance sector.
