SmartCash Payment Service Bank, a subsidiary of Airtel Nigeria, has joined forces with Leadway Assurance to launch an easy-to-access, mobile-based motor insurance service across Nigeria. The initiative is designed to make insurance more accessible and convenient for Nigerians, especially those in rural and underserved communities.
The partnership was officially announced by Airtel Nigeria in an email statement on Tuesday. According to the company, the new service will allow both existing and new customers of SmartCash to obtain or renew motor insurance directly from their mobile phones. Users can access either the mandatory Third-Party Insurance or the more comprehensive AutoBase Insurance using the SmartCash app or by dialling the USSD code *939#.
The insurance plans start from as low as ₦15,000 and are structured to offer a smooth, paperless experience that takes less than three minutes to complete. Once a policy is successfully purchased or renewed, users receive a digital insurance document instantly via email.
Chief Executive Officer of SmartCash PSB, Mr. Tunde Kuponiyi, said the partnership reflects the company’s goal to make financial services inclusive and easily accessible to all Nigerians, regardless of their location or income level. He said, “At SmartCash, our goal has always been to bring inclusive financial solutions closer to everyday Nigerians. By partnering with Leadway Assurance, we’re making it easier for motorists to insure their vehicles without stress or delays. It’s insurance that moves at your speed.”
The motor insurance services will be available to users on all types of mobile phones, including feature phones. This ensures that even those without smartphones can still access insurance coverage through basic USSD technology. It’s a strategic move that supports broader financial and insurance inclusion in Nigeria, where many citizens still rely on basic phones for financial services.
Director of Sales, Retail and Partnership at Leadway Assurance, Mrs. Kike Fischer, expressed the company’s enthusiasm about the collaboration. She said the partnership is in line with Leadway’s commitment to innovative service delivery and wider insurance penetration across the country. “At Leadway, innovation and exceptional service are at the core of our mission to deepen insurance penetration and inclusion. This collaboration with SmartCash enables us to deliver real-time protection to more Nigerians via a trusted, everyday platform,” Fischer stated.
Motorists can choose between Third-Party Insurance, which is the legal minimum and covers liabilities for injuries or damages to third parties, and the AutoBase Comprehensive Insurance plan, which covers not only third-party damages but also provides protection for the user’s own vehicle in the event of an accident.
With this move, SmartCash PSB is not only offering more value to its users but also expanding the scope of digital financial services in Nigeria. This partnership is part of SmartCash’s broader ambition to create digital-first services that reflect the realities and needs of Nigerian users, especially those who are underserved by traditional banking and insurance systems.
Mr. Kuponiyi further noted that integrating insurance services into the SmartCash platform marks another major milestone in the bank’s mission. “This partnership is another milestone in our commitment to making digital financial services more relevant, reliable and accessible for all Nigerians,” he added.
Industry analysts see this development as a significant step in bridging the gap between insurance services and the informal sector, where many Nigerians remain uninsured due to cost, complexity, or lack of awareness. By offering mobile-first, user-friendly insurance services, SmartCash and Leadway Assurance are expected to reach millions of Nigerians who previously had limited or no access to formal insurance.
