PalmPay, Africa’s leading digital banking platform, has unveiled new strategic partnerships with top insurance providers aimed at making insurance products more accessible, affordable, and user-friendly directly through the PalmPay app.
This initiative reinforces PalmPay’s commitment to financial inclusion and its broader mission to enhance the wellbeing of everyday Nigerians. With only about 8.9% of Nigerians currently covered by any form of health insurance, the country ranks among the least insured in Africa. Low awareness, affordability concerns, and trust issues have long hindered widespread adoption of insurance.
PalmPay’s in-app insurance feature tackles these barriers head-on by streamlining the process of purchasing and managing policies.
The new service provides access to a range of essential coverage options—including health, device, and life insurance—at competitive rates, removing the traditional complexity associated with insurance products.
“Insurance is often seen as complicated or out of reach, especially for underserved communities,” said Habib Kowontan, PalmPay’s Head of Wealth Product. “Our goal is to demystify insurance by offering simple, reliable, and affordable solutions within a platform users already trust.”
With a user base of over 35 million in Nigeria, PalmPay continues to expand its digital ecosystem, which already includes services like money transfers, bill payments, high-interest savings, and debit card offerings. The addition of insurance strengthens PalmPay’s position as one of the most comprehensive and customer-focused digital banking platforms in Africa.
“Our mission is to eliminate barriers and ensure that vital services are within reach for everyone,” said Chika Nwosu, Managing Director of PalmPay. “Through these strategic partnerships, we’re not just adding new features—we’re empowering our users with tools that can significantly improve their financial and personal lives.”
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The launch marks a key milestone in PalmPay’s vision to become a trusted, all-in-one financial partner for millions of Nigerians, moving beyond payments to deliver truly inclusive financial services.
