Nigeria: NucleusIS allows users to buy health insurance policies on credit

By : Adoni Conrad Quenum

Date : lundi, 16 mai 2022 16:04

In Nigeria, only 7 million out of the estimated 200 million population is subscribed to a health insurance policy. Of the 7 million, 98% were enrolled by their employees. A local startup wants to change that situation by leveraging technology. 

In 2019, Nigerian tech entrepreneur Kayode Odeyinde founded NucleusIS, a startup that wants to leverage technology for universal healthcare in Nigeria.  Through its eponymous digital platform, the startup allows individuals and firms to subscribe to health insurance policies. 

It offers users access to hundreds of subscription plans created by dozens of insurance firms. The information to be provided for registration and subscription depends on the user’s insured and employment status as well as location.   

Recently, NucleusIs introduced a plan allowing users to buy health insurance on credit. “NucleusIS will continue to look for ways to use technology and financial initiatives to drive health insurance adoption across the continent. (...) The platform is one of the many initiatives the company will be rolling out to make health insurance truly accessible and affordable to the average person,” indicated its head of Communication Godwin Awuya.

The startup currently claims more than 200,00 health insurance policies sold and 600 corporate clients managed. “We want to provide about 180,000 touchpoints across the country and add over 20 million people to the insurance net annually,” explained Odeyinde in 2021. The startup is already active in Nigeria and Ghana but it plans to enter new African markets in the next three years.  

Adoni Conrad Quenum


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