PalmPay, AXA Mansard Partner to Deliver Affordable Health Insurance via Mobile App
Strategic alliance aims to deepen insurance penetration and improve healthcare access for millions of Nigerians.
In a bold move to democratize healthcare access and deepen insurance inclusion, PalmPay has joined forces with AXA Mansard to launch mobile-based health insurance services that place affordable coverage directly in the hands of Nigerians.
The strategic partnership, announced by PalmPay’s Head of Wealth Product, Mr. Habib Kowontan, is positioned to revolutionize how Nigerians access, purchase, and manage health insurance. Through the PalmPay app, users can now subscribe to a range of health plans offered by AXA Mansard—one of Nigeria’s most reputable insurers—customized to suit different lifestyles and financial capacities.
“This collaboration isn’t just about financial products; it’s about securing lives. By integrating health insurance into the PalmPay ecosystem, we are breaking access barriers for the uninsured majority,” said Kowontan.
Digital Insurance Gets a Human Touch
The available plans offer benefits including:
- Online doctor consultations
- Medication cover
- Diagnostic testing
- Surgical benefits
- Life insurance (covering both accidental and non-accidental cases)
This initiative aligns with PalmPay’s broader mission to build a robust, inclusive financial ecosystem—where users are empowered not just to send or receive money, but also to protect their health and future.
For Nigeria’s insurance sector, which has long grappled with low penetration (hovering below 3% according to industry data), this innovation presents a game-changing distribution channel.
AXA Mansard’s Distribution Strategy Goes Digital
Mrs. Jumoke Odunlami, Chief Distribution Officer at AXA Mansard, underscored the insurer’s commitment to leveraging fintech partnerships to expand its footprint.
“With PalmPay’s extensive reach and digital convenience, we’re making health insurance more accessible and affordable to everyday Nigerians. We’ve already covered over 1.8 million people and are optimistic about scaling further through this collaboration,” she said.
Why It Matters: Insurance Inclusion as a Pillar of Economic Security
In a country where out-of-pocket healthcare expenses push millions into poverty annually, embedding health insurance into a mobile wallet isn’t just a tech milestone—it’s a social imperative.
The partnership reflects a growing trend where insurtech and fintech convergence is fast-tracking access to underserved demographics, especially the youth and informal sector players who are traditionally excluded from conventional insurance channels.
For Nigeria to attain its Universal Health Coverage (UHC) and financial inclusion goals, such collaborations are not just welcome—they are essential.
Bottom Line: Insurance Meets Fintech for Impact
PalmPay and AXA Mansard’s partnership is a textbook case of how innovation, when driven by purpose, can transform lives at scale. As mobile penetration continues to rise, this move could set the tone for more embedded insurance offerings, reshaping consumer behavior and expanding the insurance market from the bottom up.
