Nigeria's Heirs Insurance Launches Tech Competition Targeting Student Innovators
What if the next breakthrough in insurance technology came from a university dorm room rather than a corporate boardroom? That's the premise behind a new competition that's putting substantial prize money and real industry challenges in front of Nigeria's brightest student minds.
Heirs Insurance Group, which has positioned itself as one of Nigeria's most dynamic insurance players, has just opened applications for its first-ever technology hackathon. The competition isn't just another student contest with token prizes. It's a serious invitation for tertiary students to reimagine how insurance actually works.
The Challenge, Real Problems, Real Stakes
The hackathon zeroes in on something fundamental: insurance remains one of the least digitised sectors in many African markets, despite handling critical financial needs. Students enrolled in universities, polytechnics, and similar institutions across Nigeria now have until mid-February 2026 to submit solutions addressing concrete bottlenecks in the insurance ecosystem.
The problem areas are deliberately practical. Think of claims that take weeks to process, customer service experiences that frustrate rather than reassure, underwriting processes still drowning in paperwork, or distribution networks that can't reach underserved communities. Participants can tackle any aspect of the insurance value chain, from how policies are sold to how data flows through operations.
What's at Stake
Nine million naira will be distributed among the top three teams when winners are revealed at the grand finale this April. But perhaps more valuable than the prize pool is what participants gain in the process: direct exposure to how a major financial institution operates, mentorship from industry professionals, and the experience of building solutions for actual business constraints rather than hypothetical scenarios.
A Partnership with Technical Muscle
Heirs Insurance hasn't structured this as a solo venture. They've brought in Redtech, the digital payments division within the broader Heirs Holdings ecosystem, to evaluate submissions. This partnership matters because it means entries won't just be judged on flashy presentations or abstract concepts. Technical viability, scalability potential, and genuine real-world applicability will determine which ideas rise to the top.
It's a recognition that good ideas need rigorous technical scrutiny, especially when the end goal is implementation rather than simply generating buzz.
Why This Matters Beyond the Competition
Peace O. Philips, who oversees digital strategy for Heirs Insurance Group, framed the initiative in terms that extend beyond corporate social responsibility. Africa's future will be built by young people who have the opportunity to apply their ideas, creativity, and technology skills to real economic challenges, she noted, describing the hackathon as a platform for emerging innovators to help shape a more efficient and inclusive financial system.
That language efficiency and inclusion point to twin objectives. Insurance penetration across Nigeria remains remarkably low despite the country's population and economic activity. Digital solutions could simultaneously make insurance operations leaner and extend coverage to populations currently outside the formal insurance system.
The Broader Context
Heirs Insurance operates as the insurance vertical within Heirs Holdings, an investment firm with reach across 24 countries and four continents. Within Nigeria, the group runs multiple entities: general insurance, life assurance, and broking operations, all serving both corporate clients and individual consumers through a mix of physical branches and digital channels.
The company has explicitly staked its identity on financial inclusion and digital transformation, positioning itself as an industry disruptor rather than a traditional operator simply adding technology around the edges.
Read More: Heirs Technologies Gains NRS Accreditation for Nigeria’s E-Invoicing Framework
How to Register
Students interested in participating can submit applications through the dedicated competition portal on the Heirs Insurance Group website. The February 16, 2026, deadline gives participants roughly a month to form teams, identify problems worth solving, and develop their proposals.
The timeline suggests organisers want solutions that demonstrate genuine thinking rather than rushed submissions, enough time to research, prototype, and refine, but not so much that momentum fades.
The Real Test
Hackathons often generate excitement that fades once the event concludes and winning teams disperse. The more interesting question here is whether any of these student-built solutions will actually get implemented. That's where the structure of this competition, rooted in real operational challenges, evaluated by technical experts, and sponsored by a company actively pursuing digital transformation, could make a difference.
For students, it's a chance to work on problems that matter. For Heirs Insurance, it's a bet that fresh perspectives might unlock solutions that industry veterans have overlooked. And for Nigeria's insurance sector more broadly, it's another signal that digital innovation isn't optional anymore , it's the competitive battlefield where the next generation of market leaders will be determined.
