Traditional insurers risk corporate extinction, warns CBI boss

Nigerian insurance companies face a significant threat of obsolescence if they do not embrace digital transformation. The head of CBI has issued a stark warning, emphasizing that a failure to adopt new technologies could lead to their demise in the evolving market.

In response to this challenge, CBI Partnering Insurtech has introduced a new app-based marketplace. This platform aims to facilitate digital adoption within the insurance sector, providing a pathway for traditional players to modernize their operations and remain competitive.

This development matters because the insurance industry's adaptation to digital technologies is crucial for its survival and for ensuring consumers have access to modern, accessible insurance products.