Nigerian peer-to-peer finance platform P2Vest launches a first of its kind technology-driven insurance product


P2vest Technology Limited has announced the launch of its new product, P2Vest InsuranceParasol which will provide lasting solutions to both individuals and businesses enabling them to easily buy and make claims on insurance products ranging from motor and property insurance to health and life insurance on their mobile phones.

Founded in 2020, P2Vest is a peer-to-peer finance platform known for providing lending solutions for lenders and borrowers through its platform. Utilising technology, P2Vest is committed to ease of access to credit for borrowers and ensuring competitive returns for lenders.

According to the Founder and CEO of P2Vest Technology, Mr Austine Abolusoro, ‘’We have operated for the past two years with a goal of bridging the financial inclusion gap. However, we have taken this goal a step further by creating a quality insurance marketplace for users. We are bringing convenience to individuals, with fast-paced insurance solutions on their mobile phones and we look forward to creating more inclusive products. I am also glad to tell you that P2Vest is a pioneer of this kind of technology-driven insurance product in Nigeria. We have the license to operate and we are confident about what the future holds.’’

P2vest in its commitment to increasing the quality of life for individuals with InsuranceParasol has signed SLAs with twelve Insurance companies with four fully onboard and live on the mobile app. With over 200,000 active users, P2vest is providing a one-stop channel for insurance purchase, premium management and claims management through the P2vest app.

Speaking on the rollout, Samuel Abolusoro, COO of P2vest Technology said, ‘’This is a huge breakthrough as we believe financial inclusion can also be achieved in the Insurance Industry making it possible for users to easily buy and make claims from their insurance companies with their mobile device. What we have done creates an avenue for Individuals to access quality insurance products from renowned names in the industry. Our partnerships enable us to expand this digital offering to our users and advance our commitment to driving financial inclusion.’’

This is a first-of-its-kind innovation in the Nigerian startup ecosystem. P2vest is the first startup fully licensed by FCCPC and NAICOM to launch an insurance product. Some of their Insurance partners are notable names in the industry such as Heirs General Insurance Limited, Heirs Life Assurance, Universal Insurance, Sovereign Trust Insurance, WellaHealth, PRA Brokers, AIICO Insurance, Cornerstone Insurance, and Royal Exchange Insurance.