Lasaco Assurance has established a clear strategic direction aimed at strengthening its market position, enhancing execution, and delivering increased value to customers.

This was disclosed in a statement made available to The PUNCH on Thursday in Lagos as part of the outcomes of the company’s recent staff retreat, where management engaged employees on the organisation’s priorities for the coming years and the need to strengthen operations, innovation, and service delivery in a changing insurance environment.

The PUNCH reports that the Nigerian insurance industry is in the midst of a recapitalisation exercise, which has led to rising competition and evolving customer expectations arising from the new compulsory insurances listed in the Nigerian Insurance Industry Reform Act, 2025.

Speaking at the retreat, the Acting Managing Director, Mr Ademoye Shobo, said, “The company’s strategic priorities for the coming years will focus on modernising operations, fast-tracking digital adoption across service delivery, and developing insurance solutions that are better aligned with the realities of today’s customers.”

He explained that these focus areas are central to improving accessibility, strengthening performance, and positioning the company for long-term competitiveness within the insurance sector.

Also addressing staff, the Deputy Managing Director, Mr Rilwan Oshinusi, highlighted the importance of strong execution, collaboration, and disciplined implementation in translating strategy into measurable outcomes.

Driven by this leadership direction, Lasaco Assurance Plc said that it is strengthening its capacity to deliver simpler processes, more responsive service channels, and improved customer experiences.