Coronation Insurance wins Most Innovative Insurance Company of the Year at 2025 BusinessDay BAFI Awards
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Coronation Insurance Plc, one of the foremost companies in Nigeria, has been named the “Most Innovative Insurance Company of the Year” at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, a recognition that underscores the company’s commitment to redefining customer experience and driving innovation in Nigeria’s insurance landscape.
The award, presented during the prestigious BAFI Awards ceremony held on Saturday, 11th of October 2025, at the Lagos Continental Hotel, Victoria Island, Lagos, celebrates Coronation Insurance’s exceptional performance in 2024, a year marked by significant digital transformation, strategic partnerships, and strong financial growth.
Speaking on the recognition, Adewale Adeneye, Executive Director, Operations of Coronation Insurance Plc, expressed delight at the honour, noting that it validates the company’s forward-thinking approach and customer-centric innovation strategy.
“At Coronation, we believe that innovation is not just about technology, but about anticipating customer needs and creating solutions that make insurance simpler, faster, and more accessible. This award reflects the passion and dedication of our entire team and our unwavering commitment to delivering on our brand promise: protecting what truly matters,” Adeneye said.
In 2024, Coronation Insurance deepened its digital footprint with the launch and optimization of several digital platforms including: The Retail Portal, iAgent platform, Marine Portal, and Claims Portal — enabling customers and intermediaries to purchase policies, report claims, and access services seamlessly online.
This digital advancement significantly reduced transaction time and improved customer satisfaction, reinforcing the company’s reputation for speed and reliability with policy issuance turnaround at 24 hours and claims settlement within 48 hours, one of the best in the industry.
Through its award-winning “Insure and Win Promo”, the company successfully deepened retail penetration and financial inclusion, encouraging more Nigerians to embrace insurance by combining financial protection with lifestyle rewards. The campaign alone generated over ₦2 billion in Gross Written Premium (GWP) during its first season, reflecting the effectiveness of its innovation-led marketing strategy.
In 2024, Coronation Insurance strengthened its strategic alliances including its bancassurance partnership with Access Bank and its collaboration with Autochek Nigeria under the Auto Sales Initiative, both of which positioned the company as a key player in motor and retail insurance growth.
The company also recorded significant progress in its life subsidiary, Coronation Life Assurance Limited, which secured major institutional partnerships such as the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) Life business, onboarding over 2,500 members with an investment portfolio of ₦1 billion.
These achievements underscore Coronation Insurance’s drive to lead with innovation, operational excellence, and customer trust. The company’s focus on technology adoption, simplified claims processes, and value-driven products has continued to reshape the insurance experience in Nigeria.
As one of the oldest and most respected brands in Nigeria’s insurance sector, Coronation Insurance remains committed to building on its innovative momentum to expand market penetration, enhance service delivery, and empower individuals and businesses to live with confidence.
