The Nigerian Insurers Association has urged insurers to harness digital disruption and social innovation to transform the industry.

The chairman of NIA, Kunle Ahmed, was quoted in a statement on Friday in Lagos to have made the call at the 2025 CEOs Retreat organised by the association.

Mr Ahmed emphasised the need for the industry to adapt to the changing landscape, driven by rapid technological advancements and evolving societal needs.

Mr Ahmed noted that digital disruption presents opportunities to enhance efficiency, improve customer experiences, and create new business models.

He, however, said that it also requires the industry to rethink traditional approaches and embrace change.

Mr Ahmed highlighted the importance of social innovation in driving inclusive and sustainable solutions, citing the need for insurers to develop products that cater to the unique needs of underserved and vulnerable populations.

He encouraged industry leaders to collaborate and work together to foster a culture of innovation, openness, and continuous learning.

The chairman said, “As we navigate an era marked by rapid technological advancements and evolving societal needs, it is imperative that we, as industry leaders, proactively adapt and innovate to stay ahead of the curve.

“Digital disruption is a force that has already begun to transform the way we conduct business, communicate, and serve our customers.”

(NAN)