Digital Innovation

This study reviewed the technology transformation and the growth of insurance industry in Nigeria. The study’s objective is to examine the effect of technology on products innovations in Nigeria insurance industry, to investigate the influence of technology on business operations of insurance companies in Nigeria, and to examine the role of technology on customers’ satisfaction in the insurance industry in Nigeria. The study employed a survey research design including frequency and percentages, data were primarily sourced through questionnaire distributed to 5 insurance firms in Benin City, and a total of fifty (50) were used for the analysis. The analysis revealed that there is a significant relationship between technology in product innovation and insurance industry transformation and growth, that there is a significant relationship between business operations and insurance industry transformation and growth.
but there was no significant relationship between customer satisfaction and insurance industry transformation and growth in Nigeria. The study recommended that the fostering of collaboration and partnerships, investing in technological infrastructure, promoting digital literacy and training, enhancing regulatory framework, and facilitating market research and knowledge sharing.