Leadway Assurance adopts artificial intelligence for growth

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Mr. Tunde Hassan-Odukale, Managing Director, Leadway Assurance, on Tuesday said the company would deploy artificial intelligence (AI), data-driven and research-oriented initiatives to drive its operations in 2023.

Hassan-Odukale said this in a statement in Lagos, and that the initiative was designed to facilitate the dominance of the company in Nigeria’s insurance industry.

He explained that the Nigerian and global business climates were projected to experience inflationary cost pressures, exchange rate vagaries and disrupting talent attrition, which necessitated the initiative.

“As the business environment evolves, the speed of change being driven by technology will never be slower.

“This obviously has profound implications for business. Therefore, we will be deploying more data-driven and research-oriented initiatives.

“Adopting data and artificial intelligence practices for improved processes and quick decision-making to promote immersive and exceptional customer experience.

“Indeed, part of our emphasis this year is to significantly enhance our operational excellence with improvements in our technology use,” he said.

According to him, the company would also be committed to strengthening its risk management strategies and technical expertise to ensure that such risks are properly identified, assessed and proactively mitigated.

The managing director expressed confidence that the future held immense opportunities for all its businesses, given government’s huge investment in public infrastructure and imminent changes in the economy.

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Hassan-Odukale noted that Leadway as an organisation would continue to tap into the emerging opportunities.

He said the insurer would also pursue its strategic goal of being ‘the most dominant insurance company in Nigeria,’ in revenue and profit market share, within the corporate and retail market segments.

Hassan-Odukale stated that the underwriting firm could not achieve these objectives without a firm commitment to provide a world-class customer experience consistently.

To this end, he charged his team to be more customer-centric in improving Leadway’s customers’ experience positively at every touch point of its customer service value chain.