By Bunmi Yekini
Cubecover, a promising new player in Nigeria’s insurtech industry, has unveiled a bold plan to bring affordable insurance to over 10 million Nigerians within the next three years. By leveraging strategic alliances with healthcare providers, fintech platforms, network operators, and insurers, the company aims to redefine insurance accessibility in the country.
At the company’s launch event, Cubecover CEO, Deji Macaulay, emphasized the mission to bridge the gap between Nigerians and insurance solutions. “Insurance should be affordable, accessible, and trustworthy for every Nigerian,” Macaulay said. “Our platform simplifies the process, bringing peace of mind to individuals and families while enhancing the efficiency of the overall system.”
Since its inception, Cubecover has processed over 400,000 policies, enabling thousands of enrollees to access medical care and manage claims efficiently. The platform’s tech-driven approach ensures transparency and reduces delays in claims processing, providing quicker financial support during emergencies.
Chief Technical Officer Sam Ishie shared insights from a company survey, highlighting that less than 3% of Nigerians are insured. “This staggering statistic fuels our commitment to improving insurance penetration through strategic partnerships and customer-centered solutions,” Ishie stated.
Cubecover’s collaborations also extend benefits to its partners. Healthcare providers enjoy simplified claims processing, reducing administrative burdens, while fintech platforms and network providers keep policyholders informed through regular updates and reminders. Financial institutions partnering with Cubecover gain increased customer loyalty by offering value-added services, strengthening relationships, and driving engagement.
The event featured a high-profile panel discussion, including leaders from MTN Nigeria, AXA Mansard, and PalmPay, alongside Cubecover executives. The panel explored how mobile platforms can expand insurance accessibility in Nigeria, with all participants agreeing that streamlined processes and innovative partnerships are key to overcoming industry challenges.
Looking ahead, Cubecover plans to expand its offerings to include life, property, and auto insurance. By maintaining its focus on customer-centric solutions and seamless integration with service providers, the company is poised to become a transformative force in the Nigerian insurance sector.