LAGOS — In a move aimed at strengthening financial inclusion and expanding insurance penetration in Nigeria, Leadway Assurance has entered into a strategic bancassurance partnership with Ecobank Nigeria Limited to deliver integrated insurance products through Ecobank’s extensive branch and digital network.
The partnership was formally launched on Friday, and it enables Ecobank’s customers including individuals, employees, and small business owners to conveniently access a range of insurance products directly through the bank’s platforms and branches.
According to a joint statement issued by both organisations, the collaboration is designed to simplify the insurance process by embedding it within familiar banking touchpoints, thus removing common barriers to uptake.
“This collaboration is about making insurance simple, accessible, and part of everyday life,” said Kikelomo Fischer, Director of Sales, Retail and Partnerships at Leadway Assurance. “By working with Ecobank and leveraging their wide network, we’re bringing financial protection closer to people, right where they are, and when they need it most.”
Fischer described the partnership as a purposeful effort to bridge Nigeria’s significant insurance gap, highlighting that the alliance will deliver life, health, motor, and home insurance solutions to a wider segment of the population.
Also commenting, Adeola Ogunyemi, Head of Distribution Channels and Sales, Consumer & Commercial Banking at Ecobank Nigeria, said the partnership is in line with Ecobank’s goal of creating a one-stop hub for comprehensive financial services.
“We are delighted to partner with Leadway Assurance, one of the country’s foremost insurance service providers. Through this initiative, our customers will enjoy the convenience of accessing tailored insurance solutions alongside their banking needs,” Ogunyemi stated.
Insurance Now Closer to the Customer
The rollout of the bancassurance model will begin in select Ecobank branches across Nigeria, where trained product champions will guide customers through policy options. The available offerings include:
- Group Life Cover
- Personal Accident Insurance
- Term Life Insurance
These products are expected to be particularly beneficial for Ecobank’s workforce, SMEs, and retail clients, offering them enhanced financial security and risk protection.
The alliance underscores a growing trend of collaborative financial services in Nigeria, as institutions seek innovative ways to expand reach, boost customer value, and integrate insurance into mainstream financial behaviour.
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