‘Nigerians can leverage technology for better insurance cover’

Carrot Technologies Limited, a financial technology firm (FinTech) start-up with special focus on inheritance and estate planning, said it sees potentials in the Nigerian insurance market that can be tapped by leveraging technology with better insurance cover.

Dinah Joshua, product manager at Carrot in a statement said the FinTech start-up aims to help Nigerians make wills, organize assets and secure their financial future.

“Our mission is to simplify access to estate planning for everyone and everywhere. Carrot is a one stop online platform that provides estate planning solutions for subscribers to securely create, update and schedule the execution of their wills and other testamentary instruments including Deed of Gifts in real time,” said Joshua.

According to him, Carrot enables testators to appoint guardians for their children and aged parents, appoint trustees, witnesses and executors on the platform.

“The distinctive benefit of a Carrot subscriber is that you also get a N1 million Personal Life Insurance cover and a N100, 000 Medical Expense Cover from Royal Exchange Assurance Plc and Leadway Insurance Plc. Carrot helps families break through the perceived challenges of securing and protecting their families’ financial future,” Joshua stated.

Life is full of uncertainties and risks faced by Nigerians irrespective of social class, ethnicity, religion and other factors, however, those who succeed in life are those who acknowledge these uncertainties and hence, arm themselves with a well-planned strategy on how to face and overcome their challenges.

Joshua opined that one of the challenges faced by Nigerians today is that of inheritance and estate planning. According to him, it is generally believed that the making of wills is an exclusive preserve of the rich, which he said was a false assumption.

Speaking further on the benefits of Carrot, Joshua said it help subscribers overcomes the difficulty, costs, and isolation that most people experience while trying to complete essential legal and financial tasks.

“Carrot enables you to make a legal and valid will, purchase a health, life, travel and unemployment benefits insurance and organize your inventory of assets – in minutes and with just a click,” said Joshua stating that the unique social experience also makes it easy for users to invite family and friends to serve important future roles, encouraging transparent dialogue about hopes and expectations.

With just a click, Carrot guides users through these decisions, and makes them easy to change at any time. It combines many of the tools used by the wealthy and makes them accessible and affordable to all families. “Carrot is removing all barriers that prevent most families from getting the kind of legal and financial protection they need and deserve. We have made it enjoyable, convenient and secure for everyone to create a financial security plan and organize their assets easily by visiting our website ‘www.carrot.ng’,” Joshua concludes.