CAR INSURANCE : Cova Disrupts the Market with AI-Based Innovation
La voix des entreprises 
(LVDE) — As digitalization reshapes financial services within the CIMA zone, a Cameroonian insurtech is leveraging artificial intelligence to simplify access to mandatory motor insurance. With a simple smartphone, vehicle owners can now obtain instant premium estimates directly from their vehicle registration documents.
In a market still characterized by long queues and manual data entry errors, Cova is introducing a technological solution aimed at transforming traditional insurance practices. Operating across French-speaking Africa under the regulations of the Inter-African Conference on Insurance Markets (CIMA), the company has deployed an AI-powered system capable of automatically reading information from vehicle registration certificates or registration deposit receipts.
Practically, users simply film their documents using their phones. The algorithm then extracts key data — fiscal horsepower, vehicle usage category, and fuel type — before applying the official tariff grid in force in the respective country. Within seconds, the regulated premium amount is displayed. The system can also flag inconsistencies or alert the internal team in case of irregularities.
According to data from the Ministry of Transport, Cameroon has more than one million registered vehicles, with an estimated annual growth rate of nearly 6%. However, insurance penetration remains relatively low, largely due to administrative constraints and limited awareness of procedures. In the CIMA zone, the insurance sector represents about 1.5% of GDP, according to data published by FANAF (Federation of National Insurance Companies in Africa). In this context, simplifying customer processes is seen as a strategic priority.
Cova’s innovation aims to reduce human errors, accelerate premium quotation, and in some cases allow remote prepayment during policy renewals. To secure transactions, the company relies on recognized payment aggregators such as Maviance, UFIPAY, and MaMoni Pay. Payments can also be processed through financial service points like Express Union, ensuring traceability and instant proof of payment. Once payment is validated, information is transmitted to partner insurers for official policy issuance.
“Our ambition is to make insurance more accessible and more reliable while respecting the role of licensed brokers and insurance companies,” explains Virginie Pouna Ngomi, CEO of Cova. In the long term, the company advocates for the complete digitalization of insurance certificates, which are still issued in physical form in Cameroon.
Positioned as a licensed brokerage firm, Cova promotes a social mission focused on financial inclusion. The startup was recently ranked among Africa’s most innovative insurtechs by the BimaLab Africa Insurtech Accelerator program. In an environment where digital transformation is accelerating — with mobile penetration exceeding 80% according to the Telecommunications Regulatory Agency (ART) — this initiative illustrates the growing role of local technological solutions in supporting mandatory insurance services.
Tressy Chouente
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