Nigerian company unveils online insurance comparaison platform
The service is expected to boost competition and drive prices down.Nigerian customers will now be able to compare insurance policies thanks to a new online insurance comparison platform.
TopCheck will allow users to select and buy insurance policies directly from insurance companies from their mobile phone or their computer.
"We offer a platform that set the standards of buying insurance by providing the fastest, most secure and most comfortable way to do so," said Christian Wiesner, the founder of the TopCheck platform.
The service is expected to improve competition in the industry and encourage insurance penetration in Nigeria.
Christian Wiesner told the Daily Trust that the platform is free to use, and is designed to become "Africa's Moneysupermarket" - a well-known European price comparison platform for financial services such as insurance, banking or loans.
He added that some new products will be added on the platform in the coming months, besides insurance.
Nigeria’s insurance sector is approaching a tipping point and is rife for consolidation and growth in the coming months, Matthew Pirnie, director of Financial Services Ratings, said at the annual Nigerian Ratings and capital markets conference.
“We see the sector with potential for strong growth in the future and being extremely profitable," he added, quoted by Business Day. The sector recorded 18 percent premium growth in 2014.