Beyond the Launch: Solving Deep Problems in Traditional Industries with Tech
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Techbiz Webinar delivered by Uche Ayodele Okugo
Beyond the Launch: Solving Deep Problems in Traditional Industries with Tech
- 1. FastClaim SOLVING DEEP PROBLEMS IN TRADITIONAL INDUSTRIES WITH TECH www.getfastclaim.com Uche Ayodele Okugo
- 2. Uche Ayodele Okugo Founder, Fastclaim ABOUT ME
- 3. Traditional Industries Are Still Lagging Behind Many bedrock sectors in Nigeria (insurance, healthcare, education, logistics) still operate on outdated systems. These industries face deep-rooted problems: poor infrastructure, trust gaps, fragmented data, and regulatory bottlenecks. The opportunity: Use technology to drive real transformation, not just disruption.
- 4. but few solve deep, persistent issues. Over 1,450 unicorns globally Execution, system integration, and trust building are what truly scale. Hype and fast launches often overshadow long-term impact. Beyond the Launch: The Harder Work Begins
- 5. Minimal Contribution to GDP Insurance accounts for only 0.4% of Nigeria’s GDP as of 2023 Access and Trust Issues Consumers face distribution barriers and distrust towards insurers Untapped Market Potential Over 200 Million people, but very low insurance penetration Case Study:Nigeria's Insurance Landscape An overview of Nigeria’s Insurance Sector FastClaim
- 6. AI & Automation Overcoming Distribution Challenges Technology Bridges geographic and infrastructural gaps, enabling nationwide access Operational Cost Reduction Automation eliminates manual processes and reduces human error Enhanced Onboarding and Servicing Intelligent systems personalize the user journey from registration to claim AI Enabled Solutions Addressing Systematic Friction FastClaim
- 7. Reimagining The Claims Process Fast Digital Inspections Use of AI for pre and post- loss evaluation reduces time and human dependency Self-Service Policyholders submit claims via smartphones, reducing physical interactions Universal Access Web-based portals function on any smartphone and browser
- 8. AI Enhanced Verification Auto-onboarding Data extraction and document validation reduces manual entry time Biometric Verification Facial and fingerprint scanning strengthens ID confirmation Fast & Secure Access Combines speed with fraud resistance, improving trust in onboarding
- 9. Smarter Accurate Risk Profiling Data-driven Segmentation AI analyzes diverse data to identify risk clusters and trends Customized Policy Design Tailored underwriting ensures products match client needs AI detects unusual behavior across multiple data points Suspicious activities flagged before payout reduces losses More accurate risk and assessment leads to affordability and access Claim Pattern Analysis Early Fraud Detection Improved Reach and Pricing
- 10. Tech Isn’t The Goal – Solving Problems Is Technology as A Tool Tech should Serve real- world needs, not be the end in itself 3 Guiding principles shaping FastClaim’s Approach Human-centered Design Focus on intuitive, inclusive experiences for users Outcome-driven Innovation FastClaim emphasizes usability, trust and efficiency over tech hype
- 11. Impact Report & Conclusion Exclusive Integration into NIIP As of December 2024, FastClaim is embedded into the NIIP system for all 3rd Party Motor Claims. Standardization Across Insurers All insurers on NIIP are mandated to use Fast Inspection for eligible claims. Pathway to Comprehensive Coverage insurers now leverage FastClaim for both 3rd Party and Comprehensive pre-inspections.
- 12. FASTCLAIM SOLUTIONS LIMITED 12 Okotie EbohStreet, Ikoyi, Lagos, Nigeria [email protected] | https://getfastclaim.com/ UCHE OKUGO, Founder / CEO THANK YOU!