Leadway Assurance

Despite the rapid expansion of Nigeria’s professional and working-class segments, insurance penetration remains persistently low. Structural barriers, including limited awareness, low trust in providers, and a reliance on informal risk management, continue to constrain uptake across key demographics. This has resulted in a substantial market gap within a sector that holds multi-billion-naira potential for financial inclusion, revenue growth, and risk diversification.

To address this challenge, Leadway Assurance, one of Nigeria’s leading insurance providers, partnered with VIISAUS to generate deeper insight into customer attitudes, behaviours, and unmet needs. The objective was clear: to build a data-driven foundation for product innovation and strategic market expansion.

Insights from the study informed the development of a targeted product strategy playbook. Recommendations included simplifying policy language, leveraging success stories to rebuild trust, and designing persona-based distribution and communication strategies. A risk and vulnerability index was also developed to guide product design and prioritise outreach to underserved segments.

By delivering this level of market clarity, VIISAUS enabled Leadway to reimagine its insurance offerings, optimise distribution channels, and strengthen its position as a trusted partner in advancing financial inclusion across Nigeria.