News
FastClaim Expands To Zambia With New Investor Backing
By Grace Alegba
FastClaim Solutions Ltd., an insurance technology and claims management firm, has expanded operations to Zambia, marking a milestone in its African growth strategy.
Its Founder and Chief Executive Officer, Mr Uche Okugo, revealed in Lagos on Monday that the expansion is backed by a new institutional investor, Benex Projects.
Okugo said Benex Projects would play a strategic role in driving FastClaim’s wider expansion across key insurance markets on the continent.
He said the platform enables automated pre- and post-verification of motor insurance claims, transforming the claims journey from stress to simplicity.
“Through mobile technology, artificial intelligence and real-time validation, FastClaim turns complexity into simplicity.
“We are not just automating claims; we are humanising the entire experience,” he said.
Okugo said the Zambia entry aligns with rising demand for digital transformation, claims automation and data-driven risk management across Africa’s insurance industry.
He said the firm remains committed to building locally relevant solutions, forging strong partnerships and supporting efficient, customer-focused insurance ecosystems.
According to him, the investment will strengthen operational capacity, technology deployment and regional partnerships as the company scales.
Okugo said FastClaim is partnering Insizwe Private Brokers, a Mudenda Capital Partners member, as its local strategic partner in Zambia.
He said Insizwe will lead Zambian operations, leveraging deep market knowledge, a strong distribution network and regional operational experience.
Okugo said FastClaim’s AI-powered platform automates, simplifies and accelerates the motor insurance claims process.
He added that it is Africa’s first Claims Exchange Platform, enabling easy subrogation through its Automated Claims System Management solution.
“By leveraging artificial intelligence, remote vehicle inspections and automated damage detection, the FastClaim App has redefined claims processing.
“It delivers transparency, speed and improved customer satisfaction,” Okugo said.
He said that by the end of the 2025 financial year, several insurers under the Nigerian Insurers Association had adopted the platform.
Okugo added that 27 insurance companies are onboarded on the Claims Exchange, while seven have subscribed to the AI platform. (NAN).
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