The Lagos State Government has launched the Lagos Building Insurance Scheme (LAGBIS), described as Africa’s first fully digital building insurance, compliance and risk management programme, with plans to provide insurance protection for 500,000 buildings in the first phase of implementation.

Developed in partnership with VEDA Technology and stakeholders across Nigeria’s insurance industry, the initiative is designed to improve public safety, strengthen compliance with mandatory building insurance laws and protect lives, property and investments against risks such as fire, flooding and building collapse. The rollout follows a series of major fire incidents across Lagos and comes amid rising concerns over property losses linked to disasters.

The programme combines insurance services, regulatory compliance, public education and enforcement within a single digital platform. Brandspur Brand News reports that nine insurers licensed by the National Insurance Commission (NAICOM) are underwriting policies during the pilot phase, with participation expected to expand to all licensed insurance companies before the end of 2026.

The digital platform integrates building records, cadastral mapping, satellite imagery and address intelligence across Lagos’ 20 local government areas to simplify access to mandatory building insurance. It also connects with the Nigerian Insurance Industry Database, the Lagos State Building Control Agency’s compliance framework and the Electronic Physical Planning Permit System, enabling faster policy issuance, digital verification and compliance monitoring.

Every policy issued through the platform automatically generates a digital insurance compliance certificate that can be verified by the Lagos State Building Control Agency during inspections. The state government said the initiative will also be supported by sustained public awareness campaigns to improve understanding of mandatory insurance requirements and claims procedures among property owners and occupiers.

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Representing Governor Babajide Sanwo-Olu at the launch, Deputy Chief of Staff Sam Egube described the programme as a major institutional reform aimed at strengthening confidence in Lagos as a safe and resilient city while supporting the administration’s urban development agenda.

The state plans to leverage a database of about three million mapped buildings to drive implementation, with the initial target of insuring 500,000 structures across Lagos.

VEDA Technology Chief Executive Officer Bode Pedro said the platform was created through collaboration between government agencies, regulators, insurers and technology partners to remove barriers that have historically limited compliance with mandatory building insurance.

According to him, the digital ecosystem is intended to simplify policy purchases, improve transparency and support faster settlement of valid claims, thereby increasing public confidence in Nigeria’s insurance industry.

The unveiling attracted senior government officials, insurance regulators, industry executives and representatives of the built environment sector, underscoring the collaborative approach behind the initiative.

With LAGBIS, Lagos is seeking to strengthen urban resilience through technology-driven insurance compliance while expanding access to building protection and supporting the broader development of Nigeria’s insurance sector.