L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay Media Limited, Frank Aigbogun; and Senior Sales Executive, Leadway Assurance, Olawale Alao, during the presentation of the Insurance Company of the Year and Excellence in Claims Leadership & Digital Innovation Awards to Leadway Assurance at the 2025 Banks and Other Financial Institutions (BAFI) Awards held recently in Lagos.
By LOVETH AZODO, Lagos
Leadway Assurance’s double triumph at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards may have been a moment of celebration, but it also signals something deeper, a glimpse into how Nigeria’s insurance industry is evolving.
The company, which clinched Insurance Company of the Year for the second consecutive time and Excellence in Claims Leadership & Digital Innovation, is positioning itself at the intersection of trust, technology, and customer-centric transformation, the three pillars shaping the future of insurance.
For an industry often viewed through the lens of slow claims and limited penetration, Leadway’s consistent recognition stands out.
In 2024 alone, the insurer paid out ₦117 billion in claims, the highest in Nigeria’s insurance sector, reflecting not just financial strength, but a cultural shift toward transparency and empathy. Each payout represents a life restored, a business revived, and a promise kept.
Speaking after the award ceremony, Gboyega Lesi, Managing Director of Leadway Assurance, said the twin honours validate the company’s long-standing mission to protect lives and livelihoods through reliability and innovation.
“These awards are not just trophies, They represent our daily commitment to ensure no customer faces uncertainty alone. Every innovation we roll out, every claim we process, is built on the trust Nigerians have placed in us, he said.”
Leadway’s journey over the last five decades has mirrored the gradual modernization of Nigeria’s financial landscape.
From a traditional insurer to a digitally enabled risk partner, the company has invested heavily in technology to streamline claims processing, automate service delivery, and make insurance more accessible through online channels and mobile tools.
Its digital claims system, for instance, allows customers to file and track claims in real time, a leap that has drastically reduced turnaround times and set a new industry benchmark. For many policyholders, this is no longer just about buying insurance; it’s about experiencing reliability on demand.
Industry analysts say such innovations are redefining what insurance means to the average Nigerian, moving it beyond paperwork and payouts to a more human, responsive, and data-driven system.
The BAFI Awards, widely regarded as the gold standard for financial excellence, recognized institutions that demonstrate innovation, strong governance, and measurable impact. Leadway’s win across two major categories reinforces its status as not just a market leader but a driver of the industry’s transformation.
As the company marks 55 years of service, its recent wins highlight a larger story: that the future of insurance in Nigeria will belong to firms that can combine technology with empathy, turning protection into an experience, and trust into a standard.
In an era of uncertainty, Leadway’s model suggests that insurance, done right, can be more than a policy, it can be a promise that works.
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