Lagos, Nigeria – November 6, 2024 – At the recently concluded International Conference for Women in Insurance, Dr. Awele V. Elumelu, OFR, Chairperson, Heirs Insurance Brokers (a member of Heirs Insurance Group) and Chairperson Avon HMO, joined other female business leaders in the call for gender parity and more women in leadership in Nigeria’s insurance industry.
Held at the Lagos Continental Hotel, the conference was organised by the African Insurance Women Association (AIWA) and gathered industry professionals, policymakers, and advocates to discuss ways to advance women’s participation in insurance and at the helm of leadership.
Heirs Insurance Group played a key role as lead sponsor as part of its vision to drive gender inclusion across all levels.
In her keynote address, “The Future of Insurance: Trends, Challenges, and Opportunities,” Dr. Elumelu emphasised that female leadership is both a strategic advantage and an ethical imperative.
She said: “The urgency to bring more women into this field is clear. Women bring fresh perspectives and empathy, and these are essential for designing inclusive, people-centred solutions.”
Dr. Elumelu highlighted the low insurance penetration of the African insurance industry, currently below 3%, as a significant growth opportunity. She stressed the potential of digital solutions and microinsurance to enhance accessibility and inclusion.
She said: “With our young, tech-savvy population, we have a unique chance to build products that truly resonate with Africans, especially through mobile technology, which can help reach underserved communities and foster financial literacy among younger generations.”
She concluded by calling for stronger public-private partnerships to foster regulatory innovation and enhance customer trust, saying: “A collaborative approach between industry players, regulators, and local communities will set the stage for a resilient and inclusive insurance sector that can drive economic growth across Africa.”
Speaking on the conference, Lady Margaret Moore, President of the Africa Insurance Women Association, stated, “This landmark event, the first of its kind, brings together African women in insurance to empower and inspire one another. The conference aims to foster connections, share knowledge, and promote collaboration across the industry.”
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
