By Juliet Umeh
In a country where insurance adoption has historically been slow, largely due to misconceptions and a lack of trust, the launch of a new InsurTech app, InsurEase, by Transparency Scape is poised to change the narrative.
By leveraging technology, the app is tackling the core barriers that have hindered widespread insurance adoption in Nigeria—complexity, inaccessibility, and lack of transparency.
Rather than just being a tool for purchasing policies, InsurEase aims to demystify insurance, making it more understandable and accessible for everyday Nigerians.
Managing Director and CEO of Transparency Scape, Mrs. Oluseyi Ifaturoti, stated: “Our goal with InsurEase is not just to offer insurance policies, but to educate users and provide them with a seamless, transparent experience. We want to eliminate the fear and confusion surrounding insurance.”
The InsurEase platform offers real-time policy quotes, comparisons, quick issuance, and even digital claims processing, all from the convenience of a smartphone. More importantly, it personalizes insurance recommendations, ensuring that each user receives options tailored to their needs. These features, combined with an easy-to-use interface, significantly lower the entry barriers for first-time insurance buyers.
A crucial aspect of InsurEase is the collaboration between Transparency Scape and leading insurers such as Cornerstone Insurance Plc., AXA, NEM Insurance Plc., and Leadway Assurance Company Limited.
These partnerships provide users with a wide range of insurance options—such as Life Insurance, Comprehensive Motor Insurance, and Third-Party Motor Insurance—at competitive prices, allowing them to make informed decisions based on their unique needs.
“We’ve aligned our platform with regulatory bodies like NAICOM and NIA to ensure that every policy purchased through our app meets national standards,” Ifaturoti added, further stressing the company’s commitment to transparency and credibility in the industry.
To enhance user convenience, Transparency Scape has partnered with Budpay to integrate a seamless payment gateway, making policy purchases as easy as a few clicks. This hassle-free payment system ensures that users can securely complete transactions without leaving the app.
The company’s Chief Operating Officer, Olufela Olurin, shed light on the app’s development journey: “Building the InsurEase app was a complex task, but we’ve succeeded in creating a user-friendly solution that gives Nigerians the power to make informed insurance decisions. We’re proud of how the app simplifies insurance for the modern consumer.”
Transparency Scape’s commitment to sustainability is evident through its revenue model, which ensures the platform’s longevity while remaining free for customers.
Olurin also hinted at future partnerships to expand their offerings, potentially bringing even more value to users and making insurance an indispensable part of everyday life in Nigeria.
With InsurEase available for download on both Google Play and the Apple Store, as well as through Transparency Scape’s website, the app is positioned to be a game changer. As technology continues to shape the future of insurance, InsurEase is leading the charge in making insurance not just an option, but an essential tool for Nigerians looking to secure their future.
