Heirs Insurance Group
“Can a digital-first, AI-enabled insurer democratize insurance access across Nigeria's mass market and become the embedded insurance layer for African businesses?”
Founded2020
HQLagos, Nigeria
FoundersTony Elumelu (via Heirs Holdings)
IndustryFintech / Insurtech
The story
Heirs Insurance Group is a digital-first Nigerian insurer, part of Tony Elumelu's Heirs Holdings pan-African investment group. Since launch in 2021, the group has pursued a mobile-app + USSD + chatbot distribution strategy targeting mass-market financial inclusion in Nigeria. In 2024–2025 it doubled down on AI (Prince AI generative assistant) and B2B distribution via its InConnect embedded-insurance API platform, positioning itself as an insurance-as-a-service layer for other Nigerian businesses.
Last 12 months
Product timeline
2021
Heirs Insurance Group launched as insurance arm of Heirs Holdings, offering general and life insurance in Nigeria.· launch
2024
Achieved ISO 27001 certification for Information Security Management System.· compliance
2024
Reported combined Gross Written Premium of ₦61 billion (70% YoY growth).· milestone
2025
Launched Prince AI — Nigeria's first multi-language generative AI insurance assistant.· product
2025
Partnered with Mobikash payment services to train 150 informal-sector workers on financial/insurance literacy.· partnership
Regulated entities
3
regulatory licences held by Heirs Insurance Group
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Heirs Insurance Group’s embedded-finance stack
Insurance
Investing
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.