Ep. 75: Insurance Innovation in Africa

by | Aug 28, 2018

Opeyemi Osiyemi is the Founder of Claimsify and the Managing Director of EdgeEdwards. Claimsify is an insurance service that seeks to simplify the process of claims insurance in Africa. EdgeEdwards aims to help insurance companies achieve sustainable efficiency and effectiveness. Ope’ is certified in the London Insurance Market, she holds a B.S. in Insurance from the University of Lagos, and an MBA in Oil and Gas Management from the University of Dundee. She is also the Secretary-General of the Association of Registered Insurance Agents of Nigeria (ARIAN).

Ope’ joins us today to share her passion towards the restoration of global relevance and competitiveness of insurance in Africa. She shares her experience before joining the insurance industry and where her dedication comes from. She describes the current status of the insurance industry in Africa, the kind of systems they’ve applied, and the technologies they soon plan to adapt. She also explains how the African culture can sometimes hinder not just the growth of the industry, but also its clients.

“The turnaround time to pay claims should be drastically reduced, so people can get on with their lives.” - Opeyemi Osiyemi

What you'll learn:

  • How she got started in the business of insurance.
  • Why insurance is highly regulated in Africa.
  • The education, certification, and licensing process to become an agent in Africa.
  • Her ability to do business in countries outside of Africa and the processes involved.
  • The challenges the insurance industry faces in Africa.
  • How she aims to change the country's culture of family dependency.
  • Some of the major insurance companies in Nigeria.
  • Are new technologies making it difficult for companies to focus on what to do next?
  • Is the insurance industry in Africa utilizing drones?
  • Her personal story involving the stress of the claims process in Africa.
  • Her current projects and future developments.

Connect with Opeyemi

Key Takeaways:

  • We need to make innovation happen in a sustainable way.
  • Technology has no regard for how your industry is, whether it's conservative or not. It will come to do what it will come to do.

This episode was brought to you by

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

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