The Executive Chairman of Baywood Group, Chris Ibe, has issued a strong warning to legacy underwriters still operating on paper-heavy, offline business models, stating that traditional insurers risk corporate extinction within the next five years if they fail to adapt to the digital revolution.
He noted that in today’s world, if you are not embracing technology, you are almost dead, emphasising that corporate survival depends entirely on rapid innovation.
Speaking at a media briefing, Ibe explained that buying and managing insurance policies in Nigeria is about to get as simple as sending a text message, thanks to a new digital initiative launched by CBI Partnering Insurtech Limited. The newly licensed web aggregator and subsidiary of Baywood Holdings Limited has unveiled an app-driven, web-based marketplace built to dismantle the traditional bottlenecks of the local insurance sector, ensuring that insurance is easy to discover, purchase, and manage from anywhere.
“Whether you are
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