Nigeria: Leadway partners Octamile  to launch “PayCover” for motor insurance

Leadway Assurance has teamed up with Octamile to introduce the “PayCover” solution, enabling customers to divide their motor insurance premium payments into affordable installments.

In a statement released on Thursday in Lagos, Managing Director, Gboyega Lesi shared this development with the press.

Lesi highlighted that the PayCover innovative Buy Now Pay Later (BNPL) solution is designed to transform motor insurance payments by providing unparalleled flexibility and convenience.

He explained that PayCover is crafted to seamlessly integrate with Leadway’s digital and offline payment channels, enabling customers to divide their premium payments into convenient installments.

“Critical features of PayCover include flexible payment options, premium financing through short-term credit facilities, real-time processing of insurance certificates, automated payment reminders, and top-notch transaction security.