NITI will involve training of selected incumbent insurance companies with intended development of a digital insurer and digital sandbox concept in Nigeria. In Africa, risk markets remain nascent, competition minimal, and incumbents sluggish at innovating. Many incumbent insurance companies use the term “digital transformation” to refer to any initiative that uses digital technology to conduct business however most of these companies are still far from implementing digital solutions. The goal of the training initiative is to push incumbent traditional insurer to become a digital insurer through development of an innovation hub within the company. The innovation hub will apply digital sandbox mechanisms to test the solutions with targeted interactions from the regulator

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