Editors Pick

The Impact of Homeowner and Householder Insurance on Financial Stability

At 2:17 a.m. on a rainy Thursday in Lekki, the Johnson family woke up to the sharp smell of smoke. A power surge from an electrical fault had sparked a fire in the sitting room. Within minutes, years of carefully built comfort began disappearing into thick black smoke: the television bought after a promotion, the […]

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Trust Is the New Currency: Rebuilding Confidence in Life Insurance and Nigeria’s Insurance Industry

In December 2023, Tunde’s older brother, Shadrack, passed away unexpectedly in a freak car accident. During their grief, the family had to come to terms with reality almost immediately. There were hospital bills and funeral expenses to settle, and Shadrack’s wife and two children still had to be catered for. As the family rallied around

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Coronation Insurance Unveils AI-Powered Vehicle Inspection Feature to Transform Motor Insurance Experience

Coronation Insurance Plc has introduced an innovative Artificial Intelligence (AI)-enabled vehicle inspection feature on its digital onboarding portal, reinforcing its commitment to leveraging technology to deliver superior customer experiences and operational efficiency. The groundbreaking feature allows customers purchasing motor insurance policies to capture images of their vehicles directly through the onboarding portal using AI-powered image

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Coronation Life Assurance to Host Webinar on Protecting Families from the Financial Burden of Funeral Expenses

When a loved one passes away, most families expect the emotional pain. What many are not prepared for is the financial burden that often follows. In Nigeria, funeral expenses can quickly run into millions or even tens of millions. Between burial arrangements, transportation, reception costs, accommodation for guests, religious rites, and other cultural obligations, many

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How Banks Create Money in Nigeria: Understanding the Process Behind Modern Banking

  Money creation in modern economies, including Nigeria, is primarily driven by commercial banks through the lending process, while the Central Bank of Nigeria (CBN) provides the reserve infrastructure that supports the banking system. Key Highlights • Commercial banks create most of the money in circulation through lending. • New money is created when banks

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Webinar Insights on Strengthening Third-Party Motor Insurance Adoption in Nigeria

Every day, up to 12 million cars ply Nigerian roads. Many of the drivers of these vehicles do not have third-party motor insurance, while a significant portion of the ones that do are spotting fake third-party motor insurance policy documents. This action is rationalized by the aim to sail through police checkpoints seemingly compliant with

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From Protection to Prosperity: How Life Insurance Is Evolving Beyond Death Benefits

On a rainy Thursday morning in Lagos, Seye sat in his financial advisor’s office discussing his options. The real estate business he started in 2024 was doing exponentially well. As a result, he was earning more and wanted to invest aggressively. When his financial advisor mentioned life insurance, he stared at her, a confused expression

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PiggyVest celebrates 10 years with N3tn payout

PiggyVest, the pioneer of digital savings and investments in Nigeria, has officially crossed N3tn in total payouts to its users. The announcement coincides with the company’s tenth anniversary, marking a decade of transforming the financial habits of millions. Since its inception in 2016, PiggyVest has evolved from a simple automated savings app into a comprehensive

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