Lagos, Nigeria 18th August 2022 – We are happy to announce that Octamile and CarpartsNigeria partnership provides customers easy access to vehicle history and motor insurance products to protect car buyers from the risks of buying used vehicles.
Several reports say between October 2018 and September 2019, used vehicles imported into Nigeria were valued at 1.8 trillion Naira (about $4.4bn). Lack of access to reliable and tamper-proof vehicle inspection and history has led many car dealers and buyers to purchase overvalued, stolen or damaged vehicles.
CarPartsNigeria Automobile Limited is a one-stop online Auto parts store that features various Automobile parts for different vehicle brands and models. It also provides a platform for vehicle part vendors, auto-dealers, and retailers to display their respective products at the best available prices.
Octamile’s Risk Assessment & Analysis module in our All-in-One Insurance Management Solution will provide real-time reports on vehicle history from manufacturers, its valuation within Nigeria, and embed motor insurance covers from our underwriting partners in Nigeria.
According to the CarPartsNigeria team, “It is a very promising step that we have taken to partner with Octamile Inc. to fulfil the wishes of our customers looking for a great inspection and Insurance experience. Together we are sure we can make vehicle insurance and inspection easier, more effective and more efficient for our customers.”
Our Risk Assessment technology provides access to vehicle history. We see this partnership as an opportunity to continue fulfilling our mission of protecting African consumers and businesses from financial loss.
Our Founder and CEO, Gbenro Dara, said, “We are optimistic about how this partnership improves the experience of purchasing used vehicles as consumers are exposed to purchasing flooded, overpriced vehicles or stolen cars imported into Nigeria. We do not doubt that our Risk Assessment & Analysis module will positively impact buyers and sellers in the automotive sector.”
About Us: Octamile is an insurtech startup building Africa’s digital insurance technology infrastructure. Our All-in-One Insurance Infrastructure platform is changing how insurance is distributed, automating claims and mitigating risks within the insurance value chain.
Octamiles Vehicle History and Valuation solution for Risk Assessment and Analysis is a tamper-proof vehicle history and valuation data to help bridge the trust gap within the automotive industry. Contact us here or email business@octamile.com for a demo.
