Leadway, Leytro Revolutionize Insurance for Fleet Managers, Others

By LOVETH AZODO, Lagos

In a significant move to foster technological innovation in the insurance sector and promote the easy adoption of insurance products in Nigeria, Leytro, an insurtech company specializing in usage-based insurance for SMEs, has forged a strategic partnership with Leadway Assurance.

This collaboration aims to introduce user-friendly, cost-effective, and incentive-driven insurance policies designed specifically for fleet managers and drivers.

This strategic alliance combines Leytro’s technological expertise with Leadway’s well-established industry knowledge to introduce a groundbreaking pay-as-you-drive insurance model characterized by flexibility and affordability.

Fleet managers now have the convenience of managing their insurance payments on the go through a dedicated mobile app, supported by mobile telematics intelligence.

The mobile app incorporates telematics intelligence to continuously assess the driving behaviors of policyholders, providing real-time insights into their driving habits. This empowers businesses to optimize their fleet management strategies, enabling insurance payments via the app using a pay-as-you-go approach with fair premiums and incentives for safe driving.

Umashime Oguzor-Doghro of Leadway Assurance commented on the partnership, emphasizing the need for forward-thinking organizations to lead in evolving innovative solutions. “We are thrilled to join forces with Leytro to introduce this innovative insurance solution for fleet managers. Our partnership ensures that car insurance is not only accessible but that premiums are built on utility and behavioral profiles. Together, we are reshaping the insurance landscape, revolutionizing the adoption process, and setting new industry standards.”

Nathaniel Bubu, Founder/CEO of Leytro, also expressed his perspective on the collaboration, stating, “The partnership between Leytro and Leadway Assurance represents a significant milestone in harnessing technology to drive change. We are committed to revolutionizing the insurance sector by leveraging our advanced telematics technology. This collaboration empowers us to provide businesses with a more personalized and cost-effective insurance solution, fundamentally altering the way small business owners manage their fleets.”

Bubu also highlighted their commitment to rewarding responsible drivers and creating a safer driving environment through their cash reward program for safe driving.

In addition to their innovative approach to insurance policy adoption, this initiative places a strong emphasis on delivering a seamless claims experience. Leveraging technology and automation, the claims payment process has been streamlined to ensure swift and hassle-free resolutions for customers.

The partnership between Leytro and Leadway is set to reshape the insurance landscape in Nigeria, making insurance more accessible, personalized, and efficient for fleet managers and drivers.