Cornerstone Insurance Plc
“Can a 34-year-old Nigerian underwriter reinvent itself as a digital-first insurer through payments, mobile, and generative AI?”
Founded1991
HQLagos, Nigeria
Latest roundPublicly listed on Nigerian Stock Exchange (1997)
ValuationN108.27 billion market cap (Dec 2025)
IndustryFintech / Insurtech
The story
Founded 1991 as a traditional Nigerian insurance underwriter, Cornerstone Insurance Plc listed on the NSE in 1997 and has since expanded across motor, life, marine, aviation, oil & gas, and Takaful (Islamic insurance) lines. The current strategic push is digital: an online quote-and-buy website, mobile app, a Flutterwave-powered payments layer live from January 2025, and a WhatsApp-based generative AI assistant ('Cici') launched in 2025 — repositioning a 34-year-old underwriter as a digital-first insurer.
Last 12 months
Product timeline
1991
Incorporated as private limited liability company to conduct insurance business in Nigeria· founding
1997
Became public limited liability company, listed on Nigerian Stock Exchange· ipo
2025
Launched partnership with Flutterwave for online payments across 15+ channels· payments
2025
Launched Cici, generative-AI virtual assistant on WhatsApp· ai
2025
Won Nigeria's Most Innovative Insurance Company Award (FiBOP)· award
Regulated entities
1
regulatory licence held by Cornerstone Insurance Plc
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Cornerstone Insurance Plc’s embedded-finance stack
Payments / PSP
Lending
in the full report
Insurance
in the full report
FX & payouts
in the full report
Investing
in the full report
Accounting gap: none
5 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.