Elumelu seeks more women leaders in insurance industry

Dr Awele Elumelu, Chairperson, Heirs Insurance Brokers, has called for gender parity and more women in the leadership of Nigeria’s insurance industry.

Elumulu, also Chairperson, Avon HMO, said this while delivering a keynote address at the African Insurance Women Association (AIWA) conference in Lagos.

She noted that female leadership is a strategic advantage and an ethical imperative.

According to her, the urgency to bring more women into the insurance sector is clear.

“Women bring fresh perspectives and empathy, and these are essential for designing inclusive, people-centered solutions,” she said.

Elumelu also mentioned that low insurance penetration of the African insurance industry, currently below three per cent, is a significant growth opportunity.

She added that the potential of digital solutions and microinsurance would enhance accessibility and inclusion.

She said: “With our young, tech-savvy population, we have a unique chance to build products that truly resonate with Africans.

“Especially through mobile technology, which can help reach underserved communities and foster financial literacy among younger generations.”

Elumelu called for stronger public-private partnerships to foster regulatory innovation and enhance customer trust.

According to her, a collaborative approach between industry players, regulators, and local communities will set the stage for a resilient and inclusive insurance sector that can drive economic growth across Africa.

In her remarks, Lady Margaret Moore, President of AIWA, said the maiden conference brought together African women in insurance to empower and inspire one another.

Moore noted that the conference aims to foster connections, share knowledge, and promote collaboration across the industry.