Universal Insurance Plc has declared digital innovation a central pillar of its strategy for growth and market expansion in 2026. The company's Managing Director and Chief Executive Officer, Japhet Duru, made this announcement as part of his New Year's message to stakeholders.
Digital Transformation as a Growth Engine
According to Duru, the underwriter's plan for the year is designed to significantly improve customer experience, strengthen its relevance in a competitive market, and drive top-line growth. The core of this strategy involves a major upgrade to the company's digital capabilities.
The insurer will focus on simplifying how customers interact with the company, boosting service efficiency, and drastically cutting down the time it takes to process claims. Duru emphasized that professionalism, integrity, and the prompt settlement of genuine claims will remain the foundation of its relationship with policyholders.
Building on 2025 Milestones and Regulatory Compliance
Reflecting on the previous year, Duru noted that Universal Insurance recorded significant achievements in 2025. These included broadening its range of products, making notable improvements in digital service delivery, and establishing a stronger presence in key markets.
Addressing the industry-wide recapitalization exercise, Duru confirmed that Universal Insurance is taking all necessary steps to meet the new regulatory requirements. He expressed confidence that this would allow the company to further expand its footprint and solidify its position within the Nigerian economy.
Industry Perspective on Tech-Driven Growth
Commenting on this trend, a policyholder in the industry, Adebayo Ogunseye, observed that digital transformation is becoming indispensable for insurers' growth plans. This shift is especially critical as regulators demand stronger capitalization, better corporate governance, and improved service standards from industry players.
Experts point out that technology-driven platforms provide insurers with a powerful tool to reduce operating costs, increase transparency in their processes, and extend vital insurance coverage to segments of the population that have been historically underserved.
As the insurance sector continues to adapt to regulatory reforms and broader economic pressures, firms that effectively combine digital innovation with robust capital management and customer-centric products are predicted to have a distinct competitive advantage. They are expected to be the leaders in Nigeria's rapidly evolving insurance landscape.
