️ Universal Insurance Bets on Digital Innovation to Drive Growth in 2026
Universal Insurance Plc has identified technology and digital innovation as the cornerstone of its 2026 growth strategy, as the insurer positions itself for expansion in a fast-evolving and increasingly competitive insurance market.
The company’s Managing Director and Chief Executive Officer, Mr. Japhet Duru, disclosed this in his New Year message, highlighting plans to expand product offerings, strengthen operations, and deepen market relevance.
Technology at the Core of Growth Strategy
According to Duru, Universal Insurance will focus on:
• Upgrading digital platforms to simplify customer engagement
• Improving service efficiency
• Reducing turnaround time for claims processing
The strategy is aimed at enhancing customer experience while supporting top-line revenue growth in 2026.
Customer Trust and Operational Excellence Remain Key
The insurer reaffirmed its commitment to:
• Professionalism and integrity
• Prompt settlement of genuine claims
• Strengthening operational capacity across its business
Duru noted that trust, confidence, and credibility remain critical success factors in the insurance industry, making reliable and differentiated service delivery a priority.
2025 Performance Sets the Foundation
Reflecting on the company’s performance in 2025, Duru said Universal Insurance recorded several milestones, including:
• Expansion of its product portfolio
• Noticeable improvements in digital service delivery
• Stronger presence in selected market segments
These achievements, he said, provide a solid base for the company’s 2026 ambitions.
Recapitalisation and Regulatory Compliance
On the ongoing insurance recapitalisation exercise, Universal Insurance confirmed it is taking steps to:
• Meet all regulatory capital requirements
• Strengthen its financial position
• Expand its relevance and footprint in the Nigerian insurance market
The recapitalisation process is expected to reshape the industry by encouraging stronger governance, improved service standards, and better capital adequacy.
Industry Perspective: Digital Is No Longer Optional
Commenting on the development, policyholder Adebayo Ogunseye noted that:
• Digital transformation is becoming central to insurers’ growth strategies
• Technology helps lower operating costs, improve transparency, and expand coverage
• Tech-driven platforms can reach underserved and uninsured populations
Industry observers believe insurers that successfully combine digital innovation, sound capital management, and customer-centric products will be better positioned to compete and grow.
✅ Bottom Line
Universal Insurance is aligning its 2026 strategy with key industry trends—digitalisation, operational efficiency, regulatory compliance, and customer trust. As the insurance sector navigates recapitalisation and economic pressures, firms that leverage technology effectively are likely to emerge stronger and more competitive.
Universal Insurance Plc has identified technology and digital innovation as the cornerstone of its 2026 growth strategy, as the insurer positions itself for expansion in a fast-evolving and increasingly competitive insurance market.
The company’s Managing Director and Chief Executive Officer, Mr. Japhet Duru, disclosed this in his New Year message, highlighting plans to expand product offerings, strengthen operations, and deepen market relevance.
Technology at the Core of Growth Strategy
According to Duru, Universal Insurance will focus on:
• Upgrading digital platforms to simplify customer engagement
• Improving service efficiency
• Reducing turnaround time for claims processing
The strategy is aimed at enhancing customer experience while supporting top-line revenue growth in 2026.
Customer Trust and Operational Excellence Remain Key
The insurer reaffirmed its commitment to:
• Professionalism and integrity
• Prompt settlement of genuine claims
• Strengthening operational capacity across its business
Duru noted that trust, confidence, and credibility remain critical success factors in the insurance industry, making reliable and differentiated service delivery a priority.
2025 Performance Sets the Foundation
Reflecting on the company’s performance in 2025, Duru said Universal Insurance recorded several milestones, including:
• Expansion of its product portfolio
• Noticeable improvements in digital service delivery
• Stronger presence in selected market segments
These achievements, he said, provide a solid base for the company’s 2026 ambitions.
Recapitalisation and Regulatory Compliance
On the ongoing insurance recapitalisation exercise, Universal Insurance confirmed it is taking steps to:
• Meet all regulatory capital requirements
• Strengthen its financial position
• Expand its relevance and footprint in the Nigerian insurance market
The recapitalisation process is expected to reshape the industry by encouraging stronger governance, improved service standards, and better capital adequacy.
Industry Perspective: Digital Is No Longer Optional
Commenting on the development, policyholder Adebayo Ogunseye noted that:
• Digital transformation is becoming central to insurers’ growth strategies
• Technology helps lower operating costs, improve transparency, and expand coverage
• Tech-driven platforms can reach underserved and uninsured populations
Industry observers believe insurers that successfully combine digital innovation, sound capital management, and customer-centric products will be better positioned to compete and grow.
✅ Bottom Line
Universal Insurance is aligning its 2026 strategy with key industry trends—digitalisation, operational efficiency, regulatory compliance, and customer trust. As the insurance sector navigates recapitalisation and economic pressures, firms that leverage technology effectively are likely to emerge stronger and more competitive.