Tune Protect Group, a leading digital insurer with a mission to make insurance accessible to all, is thrilled to announce its expansion into the African market. This strategic move comes through its joint venture company, Tune Protect EMEIA (TP EMEIA), which is a prominent digital travel technology facilitator across Europe, the Middle East, India, and Africa.
In a significant development, Tune Protect Group has entered into a strategic partnership with Leadway Assurance Company Limited (Leadway), the foremost insurance company in Nigeria. This collaboration also includes Tune Protect Re from Malaysia. Together, they aim to provide a range of travel and lifestyle assurance products via the digital business-to-business (B2B) channel in Nigeria.
Leadway Assurance becomes Tune Protect Re and TP EMEIA’s first B2B partner within the African continent. Their focus will be on B2B Travel, offering an extensive portfolio comprising more than ten travel and lifestyle assurance propositions. Under this collaboration, TP EMEIA will leverage the travel technology solutions of White Label Ltd, Malaysia, which is the insurtech arm of Tune Protect Group based in Malaysia, to serve Leadway Assurance.
Rohit Nambiar, Group CEO of Tune Protect, expressed his excitement about this expansion into Africa. He stated, “Our entry into the African market is a significant milestone for Tune Protect Group as we continue to broaden our global presence. Our efforts do not stop here; the team is continually exploring opportunities for collaborations that provide synergistic advantages and demonstrate economic viability. In the pipeline, we are planning to expand into nine more countries in Asia and Africa, delivering valuable insurance products to meet the diverse needs of the global market.”
The formal launch of this strategic partnership took place in August 2023, marking the commencement of the distribution of travel and lifestyle products in Nigeria. These comprehensive propositions include a range of insurance solutions, totaling 12, which encompass Tune Protect Travel Assurance, Tune Protect Travel Lite Assurance, Tune Protect Air Charter Assurance, Tune Protect Travel Student Assurance, Tune Protect Travel Cancellation Assurance, Tune Protect Travel Adventure Assurance, Tune Protect Travel Electronic Assurance, Tune Protect Travel Shop Assurance, Tune Protect Pet Travel Assurance, and several others.
Arijit Munshi, Chief Executive Officer of Tune Protect EMEIA, emphasized the significance of their entry into the Nigerian market. He said, “We are delighted to announce our entry into the Nigerian market, marking a strategic move to extend our presence within the broader African market. Our collaboration with Leadway, through Tune Protect Re and supported by White Label, serves as a pivotal milestone, leveraging our profound expertise in travel and technology. We are confident in our ability to effectively cater to the evolving demands of travelers, not only in Nigeria but also across other African nations. Building upon our established track record of success within Europe, the Middle East, and India, we are eager to replicate this achievement within Africa, commencing with our partnership with Leadway.”
To date, Tune Protect Group has established an extensive network of 76 digital affinity partners worldwide, with a primary focus on markets where the Group has a strong presence, including Malaysia, Thailand, Vietnam, and the Middle East. In line with the Group’s three-year strategic plan (2021 to 2023), the company remains committed to expanding its presence in ASEAN markets and actively exploring new digital partnerships for insurance distribution.