Advancing Insurance Services Using Technology

Going by all its intricacies, technology, to a large extent, is delivering on what its pioneers and visionaries had promised: to ease almost every aspect of human endeavour.


Can the emergence and importance of technology ever be disputed? Probably not. At least, it would be a challenging feat for whoever wishes to do so. Considering all its intricacies, technology is largely delivering on what its pioneers and visionaries had promised: to ease almost every aspect of human endeavor. This technology has achieved and is still achieving more in other sectors, including the insurance sector.

From the deployment of bottomry contracts operated during the early Asian and Greco-Roman eras for the management of maritime and shipping-related emergencies to the mid-1600s when the Great Fire of London gave rise to a number of companies created to protect properties against fire incidents, and the establishment of Lloyd’s of London which supplied merchants and bankers with underwriters, history has undeniably shown that the emergence of insurance was meant to provide a potent solution to the inescapable phenomena of risk. Thus, making it one of the most important industries in the world, and the advancement in providing this very important service cannot be understated.

Risk management services have evolved over time, and in contemporary times, they have improved in tandem with the level of development in technology. This is evident, especially in the deployment of insurance services to customers. Nowadays, there is a prevalent focus on customer satisfaction, data analysis, and simplified claims processing. Hence, technological tools such as Customer Relationship Management (CRM) systems, Data Analytical systems, and Field Management Service software are entrenched in the global practice and operations of insurance companies.

However, the insurance market of today has optimized to the level of attaining cost efficiency using technology. As such, players within the sector have transcended from their early basic functions of providing customer-related activities, handling inquiries, collecting data for predictive risk analysis, and boosting productivity to improve the quality of services.

NEM Insurance, Nigeria’s highly reputable insurance company, has distinguished itself in the business of risk management with a keen interest in customer satisfaction. Prioritizing the customer and meeting their ever-growing needs professionally with the aid of technology.

Expressing his delight in the company’s technologically driven processes, the Group Managing Director and Chief Executive Officer, NEM Insurance Plc, Mr. Tope Smart, said, “At NEM, we pride ourselves as a forward-thinking and progressive insurance company. We currently use an application known as Insurance Enterprise Solution for underwriting our business. With the level of technological tools at our disposal, we can guarantee our customers a simplified process in line with international best practices.”

“In addition to simplified technologically aided processes, we appreciate the importance of an enabled workforce. Our highly skilled and professional staff are not only given the necessary tools to perform optimally but are recognized and celebrated for their enormous efforts and contributions towards the delivery of top-notch quality services all the time. Customer satisfaction is our top priority and as such, we pay adequate attention to the data provided and accordingly deploy the right tools that will enable an efficient and smooth running of automated processes and of course, the provision of value-driven products and services. Some of the technologies we have deployed include; Visitors’ Management Solutions, Printing Solutions, E-Insurance Solutions- for digital distribution of our retail products, etc.”

NEM insurance has a variety of products and services that cut across almost all spheres of human endeavor. From Maritime to Aviation, to Life, Property, and Vehicular insurance as well as protection for agricultural investments, goods-in-transit, and engineering.

With a commitment to excellence and exceptional service delivery, NEM is achieving enviable new heights. A 26% growth rate from 2021 to 2022 is a testament to that. With its core values of discipline, empathy, integrity, and courage aided by innovation, and a capable workforce supported by contemporary technology, NEM Insurance, no doubt, is advancing insurance practice in Nigeria through the deployment of innovative technology across the board.

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