Diverse Pathways Into Insurance – Ola’s story

From a life lesson in Lagos to shaping the future of insurance: Ola’s remarkable journey 

When Ola reflects on his path into the insurance industry, he smiles at the irony. “I never set out to work in insurance,” he admits. “But once I got in, I fell in love with it.” His story is one of entrepreneurship, quiet determination and hard work. 

Ola’s journey began far from the boardrooms of London’s financial district. As a child, he spent family holidays in Nigeria. On one of those trips, his parents wanted him to experience life as they had known it in their home village. Sleeping on the floor and living in comparatively basic conditions proved a formative experience for Ola. Visiting his mother’s old school, he watched his parents buy lunch for the students. “I remember a boy thanking me for buying lunch for his class and telling me to make sure I took advantage of the opportunities I had in London. That moment stuck with me. I didn’t want to let him down.” 

That sense of drive followed him into his teenage years. At school, Ola showed natural entrepreneurial flair, setting up a thriving business selling sweets and drinks to classmates. “I was making fifty to a hundred pounds a day,” he laughs. “Eventually, the school stopped me from selling, but instead of punishing me, they entered me into a Young Enterprise competition.” 

His team went on to design and sell branded memory sticks, winning recognition from their Barclays mentors. “That was my first taste of business,” he says. “I’ve always looked for creative ways to solve problems and open opportunities.” 
 
With his typical sense of drive, Ola seized the opportunity of a scholarship from insurance giant Gallagher to study Computer Science at UCL, where he developed a particular interest in human-computer interaction. Ola recalls meeting David Ross and Patrick Gallagher Junior as part of the interview process, “The fact that the CEO and Chairman made the time to interview me, blew me away.” The scholarship was also his unexpected introduction to the insurance industry.  

Upon graduating, Ola began his career at Gallagher, working across multiple lines of business, from UK liability to international terrorism, and excelling at all. Always keen to innovate, he entered the company’s internal innovation competition and won it with a concept for a renters’ insurance product aimed at millennials, allowing users to insure possessions through a simple photo upload. “The experience reinforced my belief that technology could transform insurance” he says. 

That conviction led Ola to explore parametric insurance, a cutting-edge approach that uses data and sensors to trigger rapid payouts after natural disasters. “It’s all about making the promise of insurance faster and fairer,” he explains. “For example, if a hurricane hits an insured property within a certain distance, the payout is automatic. No waiting, no disputes.” 

Today, Ola leads the London market distribution strategy for Global Parametrics. His work has helped deliver life-changing results—such as a recent $275 million payout to Morocco after a devastating earthquake. “They received the money within a month,” he says. “It made a real difference. That’s what insurance should be about.” 

For Ola, parametric insurance represents more than innovation, it’s a way to restore faith in insurance itself. “When someone gets paid quickly after a disaster, that’s the best story you can tell,” he says. “You’ve delivered on your promise.” 

Yet, for all his professional success, Ola is candid about the challenges he has faced as someone from a non-traditional background in a traditional industry. “At first, my brothers were sceptical I’d fit in,” he recalls. “But the truth is, many people in insurance are incredibly supportive. It’s about finding the ones who believe in you.” 

He credits mentors like Matthew Pike, Dominic Christian and Tom Gallagher for helping him grow. “Having sponsors like that has been priceless,” he says. “They’ve opened doors, offered guidance and shown me how inclusive this market can be when people give you a chance.” 

Looking ahead, Ola hopes to make parametric insurance mainstream. “If I can be one of the people who helps make that happen,” he says, “I’ll be able to look back and smile knowing I made a difference.” 

From sleeping on a concrete floor in his parents’ Nigerian village to leading efforts that redefine how disaster losses are funded, Ola has kept the promise he made to a boy in a classroom: to use his opportunity fully, and to widen it for the next person in line. 

To celebrate 10 years in the UK, we are showcasing diversity within our industry as part of our work to improve social mobility. IICF believes the insurance industry can be a united force for good and that everyone should be able to achieve their full potential. Through our focus on social mobility, we are helping to change lives in our local community by uniting the industry in grants, volunteering and leadership while helping build a more inclusive industry. We hope this story inspires you to pay it forward and help change a young person’s future, perhaps as a mentor or volunteer with an IICF charity partner.