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When Heirs Life Assurance launched in 2021, it entered a Nigerian insurance industry often criticised for low pen*tration, weak public trust and limited innovation. Five years later, the company has emerged as one of the continent’s fastest-growing businesses, earning recognition from the Financial Times and establishing itself as a disruptive force in the sector.
For Chief Executive Officer Niyi Onifade, the company’s rapid rise was neither accidental nor the product of short-term ambition. Instead, it was the culmination of years of preparation, a clear strategy and an unwavering commitment to execution.
Niyi Onifade, CEO of Heirs Life AssuranceSource: UGC
“Those seven years, we were not sleeping,” Onifade said, referring to the period before the company received its operating licence. “We were actually carrying out research. Before we got licensed at all, we already knew the pain points of Nigerians.”
That research shaped the company’s understanding of one fundamental truth: Nigerians are willing to buy
