PalmPay has introduced new partnerships with leading insurance firms to bring affordable and easy-to-use digital insurance services directly to its app, NaijNaira can report. The move supports its goal of increasing financial inclusion across Nigeria by offering simplified access to health, life, and device insurance.
According to Techpoint Africa, only around 8.9% of Nigerians have any form of health insurance coverage. Many Nigerians face obstacles like high costs, lack of trust, and limited awareness, which have slowed insurance adoption across the country.
PalmPay’s latest rollout addresses these issues by allowing users to buy and manage insurance policies directly within its app. This removes the need for paperwork or middlemen.
“Insurance is often perceived as complex or inaccessible, especially among underserved communities,” said Habib Kowontan, PalmPay’s Head of Wealth Product. “We’re changing that by making it simple, reliable, and affordable.”
With a user base exceeding 35 million, PalmPay continues to grow its all-in-one platform that also includes transfers, bill payments, savings, and debit card services.
“Our goal is to eliminate barriers and bring everyday financial tools to everyone,” said PalmPay Managing Director Chika Nwosu.
This expansion marks PalmPay’s push to become more than just a payments app—positioning itself as a full-service financial partner.
Article updated 2 months ago. Content is written and modified by multiple authors.
