“Can a 34-year-old Nigerian underwriter reinvent itself as a digital-first insurer through payments, mobile, and generative AI?”
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.
Cornerstone Insurance Plc processes payments through Flutterwave.
Cornerstone Insurance Plc uses Flutterwave for FX and cross-border payouts.
Cornerstone Insurance Plc's embedded insurance is provided by Cornerstone Insurance Plc (in-house).
Cornerstone Insurance Plc's investing and wealth products are powered by Cornerstone Insurance Plc (in-house).
The Embedded Finance Index 2026 maps 5 layers in Cornerstone Insurance Plc's stack: Payments / PSP (Flutterwave); Lending (Credit Life and Mortgage Protection); Insurance (Cornerstone Insurance Plc (in-house)); FX & payouts (Flutterwave); Investing (Cornerstone Insurance Plc (in-house)).
Cornerstone Insurance Plc is founded in 1991 and headquartered in Lagos, Nigeria.
Get a read on where your own stack stands against Cornerstone Insurance Plc and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.