BimaLab – Neo Insurers Training Initiative

The Neo Insurers Training Initiative (NITI) in Nigeria, supported by IFC, focuses on training incumbent insurance companies to implement digital solutions and innovation hubs. The program involves two selected companies validating Insurtech models for agriculture and health insurance products and contributing to the review of the NAICOM regulatory sandbox.

• The Neo Insurers Training Initiative (NITI) seeks to address the lack of innovation among incumbent insurance companies in Africa by helping them establish innovation hubs that use digital sandbox mechanisms to test solutions with regulator interaction.
• The initiative includes the development of a technology roadmap for Neo Insurers and provides assistance to two Nigerian insurance companies to validate Insurtech models and penetration strategies for health and agriculture insurance products.
• The program's outcomes are intended to inform the review of the regulatory sandbox developed by the National Insurance Commission (NAICOM).

APA

FSD Africa (2022). BimaLab – Neo Insurers Training Initiative. https://fsdafrica.org/wp-content/uploads/2025/05/Risk-Resilience-BimaLab-–-Neo-Insurers-Training-Initiative-1.pdf

Chicago

FSD Africa. BimaLab – Neo Insurers Training Initiative. 2022. https://fsdafrica.org/wp-content/uploads/2025/05/Risk-Resilience-BimaLab-–-Neo-Insurers-Training-Initiative-1.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=BimaLab – Neo Insurers Training Initiative |date=October 2022 |url=https://fsdafrica.org/wp-content/uploads/2025/05/Risk-Resilience-BimaLab-–-Neo-Insurers-Training-Initiative-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2022bimalab, author = {{FSD Africa}}, title = {{BimaLab – Neo Insurers Training Initiative}}, institution = {FSD Africa}, year = {2022}, month = oct, url = {https://fsdafrica.org/wp-content/uploads/2025/05/Risk-Resilience-BimaLab-–-Neo-Insurers-Training-Initiative-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }