In Nigeria’s financial and insurance sector, one of the biggest challenges companies face is how to verify and onboard customers quickly while staying compliant with regulations. The process often involves multiple checks from confirming a customer’s identity to making sure they are not linked to money laundering or other financial crimes. Without the right tools, this process can be slow, frustrating, and sometimes costly.
Guinea Insurance PLC, one of Nigeria’s oldest and most trusted insurance companies, understands this challenge well. As a company that provides a wide range of services covering motor, marine, travel, oil and gas, aviation, fire, agricultural insurance and more they deal with both individual and corporate clients daily. This means their onboarding process must include thorough checks such as Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and Know Your Business (KYB), all while meeting strict Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) regulations.
The problem for Guinea Insurance was that these processes were time-consuming. Verifying IDs, NIN, BVN, addresses, and running background checks on individuals and companies often slowed down customer onboarding. For clients, this meant unnecessary delays; for the company, it meant losing time, efficiency, and sometimes opportunities.
When Guinea Insurance partnered with Probe, the results were transformational. With Probe’s solution, the company was able to carry out ID, BVN, and NIN verification much faster, confirm customer addresses more reliably, and run background checks in real time. Probe also gave them access to instant AML/CFT checks against both local and international watchlists, ensuring no client slipped through the cracks. In short, Guinea Insurance achieved what every forward-thinking insurance institution in Nigeria desires which is speed without losing compliance.
The impact was clear and measurable. Onboarding time was cut in half, meaning clients could now be verified and onboarded in record time. The company also reduced the risks of regulatory breaches and fines since all verification steps were fully compliant. Most importantly, the customer experience improved significantly, with fewer delays and smoother onboarding. As the team at Guinea Insurance put it, Probe made their process “faster, more reliable, and a great tool” for their operations.
This is not just a win for Guinea Insurance; it is a reflection of what Probe is doing for many other companies across Nigeria’s financial and business sectors. From banks to fintechs to insurance providers, Probe is helping organizations improve compliance while speeding up customer onboarding.
If your business also needs to streamline its onboarding process, Probe can do the same for you. Whether it is customer due diligence, enhanced due diligence, KYC verification for IDs, NIN, BVN and addresses, or KYB checks for corporate clients, Probe provides the tools to help you onboard customers faster, more securely, and more reliably. Just like we did for Guinea Insurance, we can help you double your onboarding speed while keeping your company on the right side of compliance.