Cubecover transforms insurance access in Nigeria with innovative tech-driven platform

In a move to simplify insurance access for millions of Nigerians, Cubecover, a technology-enabled insurance platform, has officially launched in Nigeria. 

The company is on a mission to enhance insurance affordability and accessibility by providing coverage to over 10 million Nigerians by 2027.

Speaking at the launch event in Lagos, Cubecover’s CEO, Deji Macaulay, highlighted how the platform simplifies the insurance process, ensuring peace of mind for individuals and families while increasing system efficiency.

“Our innovative approach aims to bridge the gap between underinsured populations and accessible healthcare,” Macaulay said. 

“By leveraging technology, we are streamlining services, ensuring transparency, and offering faster claims processing for enrollees during emergencies.”

Cubecover’s platform has already processed over 400,000 policies, with thousands of enrollees benefitting from efficient medical care and transparent claims. By partnering with healthcare providers, financial technology (fintech) platforms, network providers, and insurers, the company is well-positioned to redefine how Nigerians engage with insurance.

The insurance industry in Nigeria has historically struggled with low penetration rates and cumbersome processes. 

Cubecover’s Chief Technical Officer, Sam Ishie shared survey results revealing that less than 3 percent of Nigerians currently have insurance coverage. 

“This statistic drives our mission,” Ishie explained. “Cubecover simplifies access to care, makes claims processes transparent, and reduces wait times. Our integrated approach strengthens partnerships with stakeholders and enhances customer satisfaction.”

Cubecover’s partnerships enable policyholders to receive regular updates and reminders about their coverage. Additionally, healthcare providers benefit from a steady stream of insured patients and simplified claims processes, allowing them to focus more on patient care. Financial institutions also gain by offering value-added services through Cubecover, boosting customer loyalty and engagement.

Looking ahead, Cubecover plans to expand its offerings to include life, property, and auto insurance, further democratizing insurance in Nigeria. By centering its solutions around customer needs and integrating seamlessly with service providers, the platform is poised to become a game-changer in the industry.

At the launch event, a panel session brought together leaders from insurance, telecommunications, and finance to discuss how mobile platforms can expand insurance accessibility. Panelists included Cubecover CEO Deji Macaulay, Chief Digital Officer at MTN Nigeria A’isha Mumuni, Chief Distribution Officer at AXA Mansard Jumoke Odunlami, and Head of Wealth Product at PalmPay Habib Kowontan. They agreed that simplifying sign-up processes and fostering innovative partnerships are crucial to addressing the challenges in the sector.

L-R: Chief Technical Officer, Cubecover, Sam Ishie and CEO, Cubecover, Deji Macaulay

Cubecover’s debut marks a significant step forward for insurtech in Nigeria. Combining cutting-edge technology with a deep understanding of local needs, Cubecover is set to transform the insurance landscape. With a strong commitment to inclusivity, accessibility, and transparency, the platform promises to deliver the coverage and peace of mind Nigerians deserve.

Others that graced the event were AXA Mansard Health, CEO, Tope Adeniyi; Director Marketing of Globacom, Viju Unnitan; Chief Digital Officer, 9Mobile, Ina Alogwu; Leadway Health CEO, Dr. Tokunbo Alli and Director – Entrepreneurship and Skills Development Centre, UNILAG, Prof. Sunday Adebisi.

Also were Partner at Verod Capital, Daniel Adeoye; Executive Director, Institute of Counselling, Dr Tolu Oko-Igaire; General Manager, Digital Services, MTN Nigeria, Funsho Finnih; Managing Director, Sony Music Publishing Nigeria, Godwin Tom and Convener, Premia Business Network, Bola Lawal.

Their presence underscored the impact of their solutions and the importance of innovation in InsurTech. Attendees hailed the company’s mission to revolutionize customer-centric insurance solutions through cutting-edge technology and data analytics, positioning Cube Cover as a transformative force in this rapidly expanding market.