Reports

GOXI Microinsurance pays over N636m claims to low-income households

.Partners Microinsurance Network for Microinsurance Conference on financial inclusion

Goxi Microinsurance has paid out claims to victims of market fires, accidents and social crises totalling over N636 million to vulnerable low-income households in Nigeria.

The firm has also partnered Microinsurance Network to host the Microinsurance Conference to promote financial inclusion. As a result, small businesses and vulnerable households in Nigeria are expected to benefit from fresh ideas on how to expand access to microinsurance at Goxi Microinsurance’s 3rd Annual Conference in Lagos.

This year’s theme, ‘Reflection on Microinsurance in Nigeria for Inclusive Growth,’ will drive discussions on how affordable insurance can shield low-income families, traders and MSMEs from unexpected financial shocks.

“Microinsurance in Nigeria has come a long way, but we must do more to ensure that vulnerable households and small businesses are adequately protected,” said Shina Gbadegesin, managing director, Goxi Microinsurance.

Industry watchers note that many traders still operate without protection, leaving them exposed when disasters strike. The conference will explore digital solutions, gender-focused products, and community partnerships that can close this gap and support economic growth

“When a market fire or accident happens, insurance should not be a luxury. It should be a lifeline,” said Gbadegesin.

Goxi’s efforts have earned it recognition, with several awards as the Leading and Excellent Microinsurance in Nigeria.

The 2025 edition will bring together thought leaders and industry stakeholders for impactful sessions, exhibitions and networking engagements. Organisers anticipate that the event will generate actionable recommendations for regulators and inspire pilot initiatives designed to empower small businesses.