Covtura Intelligence — Fraud intelligence for Nigerian insurers

Why now

The market grew 47% last year. Fraud controls didn't.

Verified regulator figures — not vendor slides. Nigeria's claims pool is large, motor claims are decided and paid locally, and no insurer has a measured fraud rate. Whoever measures first, wins.

₦2.3trn Industry gross premium, FY2025 (+47.3%) NAICOM Q4 2025 bulletin

₦622bn Net claims paid, FY2024 NAICOM Q4 2024 bulletin

94% of surveyed Nigerian insurance experts call motor fraud problematic Univ. of Southampton study, n=120

60 days NIIRA 2025 settlement deadline — ₦500k fines plus monthly penalties Insurance Reform Act 2025

What Covtura does

From claim to decision, one pipeline

Score every claim on arrival

A hybrid engine — machine-learned model plus hard compliance flags — returns a 0–100 fraud score and risk band in-process, before the claim reaches an adjuster's desk.

Explain every score

Each score ships with its drivers: claim-to-coverage ratio, reporting lag, claim history, policy status. Your team sees why — no black box, and exaggerated claims (the most common fraud type in Nigeria) light up on exactly these signals.

Alert and triage the high-risk tail

HIGH-risk claims raise an alert into an investigator queue automatically. Honest claims flow through untouched — the 60-day clock keeps running in your favour.

Investigate with an AI brief

One click opens a case and drafts an investigation brief — claim, policy, customer history and risk drivers assembled by AI, advisory-only, every output validated and logged.

Catch the rings, not just the claims

Network intelligence links claims through shared phone numbers, bank accounts and BVNs to surface organised fraud rings no single claim reveals.

The pilot — zero disruption

We prove it on your own history first

"Give us your last 12 months of closed claims. We'll show you exactly which ones we would have flagged — and you already know which ones turned out to be fraud."

A retrospective pilot runs entirely in shadow mode: no workflow change, no live decisions, results in weeks. You get a quantified report of the leakage sitting in your own book — the first measured fraud data in the Nigerian market — and a clear read on what Covtura would recover at your claim volumes.

Pricing

Priced against your claims line, not your IT budget

A mid-tier motor book of ₦5–10bn/year plausibly leaks hundreds of millions of naira annually. Every tier below is a fraction of that recovery — the platform pays for itself at modest detection rates.

Tier	Scope	Price
Retrospective pilot3 months, shadow mode	Historical claims re-scored; quantified leakage report; go/no-go evidence	₦2–5M one-off
Coreannual contract	Live scoring up to ~2,000 claims/month; alerts, triage, case management	₦2–4M / month
Enterpriseannual contract, negotiated	Unlimited claims; network/ring intelligence; API access; priority support	₦6–10M / month

Annual contracts with yearly repricing. Launch-partner terms available for the first reference customers.

Built for the regulator's questions

Compliance is the architecture, not an add-on

Explainable, advisory-only AI

Every score carries human-readable drivers; no solely-automated adverse decisions — humans decide, Covtura informs.

NDPA-aligned by design

EU data residency, encryption at rest and in transit, and full provenance on every assessment and AI brief.

Provable tenant isolation

Row-level security enforced in the database — your data is walled off from every other insurer, provably, even against application bugs.

Append-only audit trail

Every score, alert, assignment and decision is logged immutably — evidence on demand for auditors and NAICOM.