What was the original vision behind Tangerine Africa, and how has that vision evolved since inception?
Tangerine was founded with a vision to make financial services in Africa easy, affordable, and accessible for everyone. The mission was to start removing the barriers that kept people from getting quality insurance, pensions, and health coverage. Over time, that vision has grown. Today, we’re not just providing products; we’re building an ecosystem that empowers people and businesses to get unrivaled access to coverage for what matters to them.
How does Tangerine differentiate itself in a market with both legacy insurers and emerging fintech startups?
Tangerine combines its heritage credibility, which fintech startups do not possess, with modern branding, which legacy insurers tend to overlook, providing a seamless blend between history and new ways of doing things. Our organisation also prioritises affordability and customer centricity.
How would you describe the current state of the insurance industry in Nigeria, and what structural reforms do you believe are most urgent?
Nigeria’s insurance industry suffers from low penetration due to consumer distrust, poor awareness, regulatory gaps, and infrastructure challenges. Raising awareness, financial inclusion, and accelerating the digital capacity of the industry need to be prioritised.
Despite having a large population, insurance penetration in Nigeria remains low. How is Tangerine working to overcome the barriers to insurance penetration? How is the company ensuring that its services are accessible to underserved populations?
Tangerine is making insurance accessible to underserved populations through its robust agency and branch network. Tangerine Life has agents and branches all over the country, making it easy for the everyday person to engage with and buy insurance products.
What impact has the increasing fintech activity in Nigeria had on consumer expectations and competition across all the industries that Tangerine is playing in?
Increasing fintech activity in Nigeria has resulted in elevated consumer expectations with regards to convenience, speed, and personalisation. This has intensified competition, pushing insurers to either innovate or collaborate or risk being left behind.
What do you consider the most promising African countries or regions for digital insurance growth over the next five years, and why?
First is South Africa. It has the most advanced insurance sector in Africa, with high mobile and smartphone penetration, a supportive regulatory environment, and a mature fintech ecosystem in cities like Johannesburg and Cape Town. Insurtech innovations—such as app-based policy management, usage-based insurance (UBI), and microinsurance—are already gaining traction.
Nigeria will be second. We have the largest fintech market in Africa (approximately 28% of all fintech companies). Nigeria also leads in mobile phone penetration (approximately 85%). Ongoing insurtech initiatives, such as microinsurance, coupled with the fact that NAICOM recently issued operational guidelines for insurtech businesses in Nigeria, indicate that there is strong momentum for digital insurance growth in the country.
What are the key regulatory, infrastructure, or cultural challenges in scaling a cross-border financial services business across Africa?
Scaling cross-border financial services in Africa is constrained by fragmented regulations, uneven infrastructure, and cultural barriers related to trust and payment behaviours. Success will depend on regulatory harmonisation, robust infrastructure integration, and deep cultural understanding to build trust and deliver locally-relevant products and services.
The company's portfolio has evolved, from life and general insurance to pensions and health. What was the original vision behind Tangerine Africa, and how is this portfolio playing into this vision? And, are there plans to expand to other verticals?
The original vision behind Tangerine Africa was simple yet powerful: to help people and organisations succeed financially by leveraging technology.
We began by creating an ecosystem of products built on the core pillars of financial security, savings, investment, risk management, and retirement planning. The goal was to make it easier for individuals and businesses to make smarter financial decisions and secure their future.
Today, that vision continues to thrive through our group entities, Tangerine General, Tangerine Life, Tangerine APT Pensions, and Total Health Trust. While the essence of the original vision remains intact, our focus has evolved. We now place even greater emphasis on providing holistic coverage for everything that matters to anyone and everyone, ensuring that financial protection and empowerment are accessible to all.
How do you see Tangerine contributing to the broader goal of improving financial literacy and inclusion in Africa? What's the vision for Tangerine for the next decade?
At Tangerine, we believe that true financial empowerment begins with knowledge. That’s why improving financial literacy and driving inclusion remain very important to us and are at the heart of everything we do. Beyond providing products, we are committed to giving an extra layer of value through equipping individuals and organisations with the knowledge, tools, and confidence to make better financial decisions, whether that’s saving for the future, protecting their loved ones, or planning for retirement.
Over the next decade, our vision is to become Africa’s most trusted financial solutions partner, one that uses technology, accurate data, and reliable human insight to break down barriers and bring financial security to people in Africa. We see Tangerine not just as an insurance provider, but as a catalyst for financial confidence, empowering Africans to live secure, fulfilled lives.
