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Team Elite Wins Grand Prize for UNILAG NRC Challenge

On Thursday, 11 May 2023, Team Elite, a group of four University of Lagos students, emerged as the National Risk Compendium (NRC) challenge winners. 

The second edition of the challenge was held at the J.F. Ade Ajayi Auditorium at the University of Lagos. It was organised by the Actuarial Club, UNILAG, in collaboration with the Actuarial Science and Insurance Students Association (ASISA). The NRC is a collection of initiatives that aim to expose, encourage, and motivate young professionals interested in risk management.

The challenge featured five teams with seven minutes each to pitch their ideas to the judges. The teams include Team Elite, Team Indemnity, Team Xeus, Team Altruistic, and Team Asiwaju, and Team Elite won the cash prize of N200,000.

The judges were impressed with the innovation of Adejoke Olaosebikan, Chukwuemeka Nnachi, Munachi Iwuozo, and Ola Akanni’s “Smart Insure,” which incorporates artificial intelligence in underwriting to calculate risks more accurately.

Team Elite used immersive algorithms that consider the user’s history to calculate risks more swiftly and accurately.

The team lead, Adejoke Olaosebikan, expressed her gratitude to God and her team members for their dedication, hard work, and unwavering support toward achieving their common goal.

“This journey has been a rollercoaster, filled with challenges and setbacks. But despite all of that, I knew we were only in the competition to win. I am proud that my team and I emerged as champions,” Olaosebikan revealed.

Olaosebikan also expressed gratitude to her team and Actuarial Science and Insurance Students Association (ASISA) for their support in winning the competition.

“This victory is not just mine to celebrate. It belongs to every member of my team who worked tirelessly towards our common goal. We wouldn’t have come this far without their unwavering support, dedication, and hard work,” Adejoke continued.

“Last but not least, my gratitude goes to ASISA for this opportunity and platform they gave us to show our skills. Such opportunities should not be taken for granted, and I am glad we took full advantage of it”, she concluded. 

Meanwhile, at the event, the keynote speaker, Fagbile Ademola, Recruitment Lead at Proten International, stressed the importance of having quality peers and building a trustworthy network as a student and beyond university.

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