Epicure Insurance Brokers marks decade with growth, digitisation ambitions

Epicure Insurance Brokers Limited has outlined plans to expand its scope of services, accelerate digitisation and deepen insurance penetration in Nigeria as the company marks its 10th anniversary at a gala in Lagos.

Managing Director and Chief Executive Officer of Epicure Insurance Brokers, Oyinpreye Aigbogun, said the company’s next phase of growth would focus on expanding opportunities in the insurance market through stronger collaboration and the integration of insurance into different areas of financial services.

“We should expect a richer and wider scope of services, more digitisation and deeper insurance penetration in Nigeria,” Aigbogun said.

She noted that Nigeria’s insurance penetration remained low compared with some African countries, including South Africa and Ghana, presenting opportunities for insurance operators, regulators and industry advocates to expand coverage and improve public understanding of insurance.

“There’s still a lot of work to be done and everyone has a role to play, especially the regulators and the other advocates in the industry,” she said.

According to her, collaboration would be central to the company’s strategy over the next decade, particularly in making insurance an integral part of financial services and everyday economic activities.

“So, over the next 10 years, we’re going to look at more collaboration and how to embed insurance in as many types of services as possible. Without insurance, there is no life. Insurance is everything,” she said.

Aigbogun attributed the company’s longevity and growth over the past decade to its commitment to excellence, integrity and consistently doing the right thing, even when no one is watching.

“It’s the spirit of excellence, doing the right thing always, even when you think nobody’s watching,” she said, describing the principle as central to building trust and sustaining business relationships.

Chairman of Epicure Insurance Brokers, Obinnia Abajue, highlighted the importance of relationships, shared values and trust in building the company over the last decade.

In his address of welcome at the anniversary gala, Abajue said the company’s journey had involved overcoming challenges while pursuing business opportunities and making decisions that aligned with its core values.

He explained that the founders had chosen to prioritise sustainable values over opportunities that did not reflect the kind of organisation they wanted to build.

“Along the way, we turned down opportunities that did not fit who we wanted to be in favour of values we believed were sustainable,” Abajue said.

According to him, unity of purpose and mutual support had helped the company navigate its early challenges and establish a foundation for future growth.

“We agreed that supporting each other mattered more than winning any argument. It meant we would either succeed and grow together, or fail together,” he said.

Looking ahead, Abajue said Epicure would remain committed to protecting its clients and the people and assets that mattered most to them, despite changes in the business environment.

An entrepreneur and long-standing Epicure client who delivered the keynote address, Ibrahim Zibiri, emphasised the importance of profitability, human capital, strong business foundations and adaptability in ensuring that businesses survive and grow in challenging economic conditions.

He argued that profitability was necessary for businesses to reinvest in the structures required for long-term sustainability, while stressing that employees remained central to achieving those objectives.