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News • 10 Oct 2023

Embedded insurance: Nigerian banking transformed

By Ivor Price

Embedded insurance firm Curacel partnered with ALAT by Wema, Nigeria’s top digital bank, offering insurance services within the ALAT platform. Photo: Supplied

Curacel, a prominent embedded insurance company, has announced a strategic partnership with ALAT by Wema, Nigeria’s premier fully digital bank. This collaboration aims to offer car, device, and health insurance integrated within the ALAT platform, marking a significant advancement in the digital banking industry.

ALAT by Wema, renowned for its trailblazing initiatives in the digital banking sphere, is known for its innovative financial services designed to simplify and elevate the banking experience. By integrating Curacel’s cutting-edge embedded insurance solutions, it further solidifies its status as a pioneer in the digital banking sector.

Henry Mascot, CEO of Curacel, expressed his enthusiasm about this transformative partnership, stating, “Our collaboration with ALAT signifies a monumental leap in the realm of insurance services. We are proud to work with ALAT by Wema, an institution renowned for its unwavering commitment to digital innovation.”

The integration process between Curacel and ALAT was characterised by its efficiency and swiftness, facilitated by close collaboration between both teams. Gift Iloabuchi, the ALAT product owner, underscored the seamless onboarding process, highlighting the exceptional teamwork between the organisations.

Mascot further commented, “The experience working with the ALAT team has been outstanding. The speed and efficiency of the onboarding process, coupled with the high level of teamwork, truly sets this partnership apart.”

This collaboration has had a notable impact on ALAT’s business, providing ALAT users with the convenience of purchasing insurance directly through the ALAT app.

“This partnership signifies a transformative moment for the insurance industry, showcasing the power of digital innovation in redefining insurance service accessibility and management. Curacel remains committed to continually enhancing and expanding our offerings to provide unmatched value to our users,” said Mascot.