Awele Elumelu advocates for women, youth inclusion in Africa’s insurance sector

Awele Elumelu, chairperson of Avon Medical Practice Limited, has called for greater inclusion of women and youths in Africa’s insurance industry.

Elumelu, also a founding trustee of the Tony Elumelu Foundation, spoke on Tuesday at the international women conference organised by the African Insurance Women Association (AIWA) in Lagos.

She said there is an urgent need to bring more women into the insurance sector as they offer fresh perspectives critical for developing inclusive solutions.

“Women bring fresh perspectives and empathy, and these are essential for designing inclusive, people-centred solutions,” Elumelu said.

“Low insurance penetration of the African insurance industry, currently below three per cent, is a significant growth opportunity.

“With our young, tech-savvy population, we have a unique chance to build products that truly resonate with Africans.

“Especially through mobile technology, which can help reach underserved communities and foster financial literacy among younger generations.”

Elumelu called for stronger public-private partnerships to increase regulatory innovation and enhance customer trust.

She said a collaborative approach between industry players, regulators, and local communities will set the stage for a resilient and inclusive insurance sector that can drive economic growth across Africa.

Speaking about the event in a social media post on Wednesday, Elumelu said it is always inspiring to see women uplift one another, creating avenues for mentorship and support networks.

On her part, Margaret Moore, president of AIWA, said the conference has brought African women in insurance together to empower and inspire themselves.