Terms and Conditions of Use

1. Definitions

For the purposes of these Terms, the following definitions apply:

• "Bundle" means a combined insurance package (e.g. Bronze, Silver, or Gold) that integrates multiple products at a combined Premium.
• "Claim(s)" means a formal request made by a User or policyholder to Skydd for compensation, coverage, or benefit under an applicable insurance policy, following the occurrence of an insured event.
• "Insurance product" means any insurance policy, insurance plan, or other related insurance service made available through the platform and underwritten by a NAICOM-licensed insurer.
• "Platform" means the Skydd website, mobile application, and all affiliated digital touchpoints operated by Skydd Insurance Brokers Limited.
• "Personal Information" means any data relating to an identified or identifiable natural person as defined under applicable data protection laws, including the Nigeria Data Protection Act (NDPA) 2023.
• "Policyholder" refers to any User who has subscribed to any Insurance Product offered via the Platform.
• "Premium(s)" refers to the amount payable by a User to Skydd in exchange for coverage under an applicable insurance policy.
• "Savings Product" means any goal-based or protection-linked savings plan offered on the Platform, including GoalGuard, Future Scholar Fund, and Legacy Plan.
• "Services" include brokerage and facilitation of Insurance Products, Savings Products, Claims management, wallet services, Skydd account management, and all other associated services provided through the Platform.
• "Skydd Account" refers to a registered User profile created on the Platform.
• "Third Party" means any party other than Skydd and the User.
• "Underwriter" means a NAICOM-licensed insurance company that underwrites risk on behalf of Insurance Products sold through the Platform.
• "User" means any individual who has successfully registered, created, and owns an account on the Platform, thereby gaining access to and making use of the Services.
• "Wallet" means the digital stored-value account associated with a Skydd Account and made available through the Platform for the purpose of facilitating Premium payments, savings transactions, refunds, Claims disbursements, and other approved transactions. Each Wallet may be assigned a unique account number for funding and identification purposes.

2. About Skydd

2.1 Our Role

Skydd Insurance Brokers Limited is a technology-enabled insurance brokerage and savings platform registered in Nigeria. Skydd is designed to help individuals grow their wealth through goal-based savings and protect that wealth through embedded insurance cover. Skydd operates a digital insurance and enrolment platform through which insurance and related financial products are distributed to final consumers under the NAICOM Guidelines for Insurtech Operations in Nigeria and does not itself underwrite any insurance risk.

2.2 Underwriting Partners

Insurance products available on the Platform are underwritten by licensed Nigerian insurers including Tangerine Life Insurance, Tangerine General Insurance, Crystalife Assurance, Hygeia HMO, Bastion Health Insurance, AXA Mansard, and other partners as updated from time to time. The relevant Underwriter for each product is disclosed on the policy certificate issued to you.

2.3 Fintech Infrastructure

The Wallet, payment and banking functionalities made available through the Platform are provided through a Banking-as-a-Service arrangement with Sterling Bank Plc through Embedly. Customer funds associated with the Services are held and administered by Sterling Bank via the Embedly platform in accordance with applicable laws and regulations. Skydd does not operate as a bank, accept deposits, or provide regulated banking services in its own capacity.

Payment processing services on the Platform may be provided by third-party payment service providers, and are subject to the terms and conditions of those providers.

2.4 Products Offered

Skydd offers the following products, each subject to specific product terms disclosed at the point of purchase:

• GoalGuard — Target savings with embedded life insurance protection
• Future Scholar Fund — Education Endowment Savings Plan
• Income Shield — Job loss protection with Group Personal Accident cover
• Legacy Plan — Term assurance and whole life insurance
• AutoGuard — Motor vehicle insurance (Third Party, Tang Auto, Comprehensive)
• Property Shield — Home contents insurance
• Wellness Plan — Health insurance (HMO plans)
• TravelGuard — Domestic and international travel insurance
• Bronze, Silver, and Gold Bundles — Combined Protection Packages

Every Insurance Product and Savings Product facilitated via the Platform is governed by its specific terms and conditions as detailed in the corresponding product documentation. You are responsible for reviewing and understanding the relevant policy schedules, exclusions, and Claim process before initiating a purchase.

Skydd serves as a technology-enabled facilitator and intermediary for these offerings and does not personally underwrite or assume any insurance risk. All Claims remain subject to rigorous verification and must be processed in strict accordance with the Underwriter's established guidelines.

3. Access and Eligibility

3.1 Eligibility Requirements

Access to the Platform and its Services is limited to persons who:

• Are at least 18 years of age and possess full legal capacity to enter into binding contracts;
• Are resident in Nigeria or are Nigerian citizens;
• Have a valid Nigerian National Identification Number (NIN), which is mandatory for the purchase of any Insurance Product;
• Have a valid mobile phone number capable of receiving OTP messages via WhatsApp or SMS;
• Have completed the registration process and accepted these Terms; and
• Are not prohibited from using our Services under any applicable Nigerian law or regulation.

Certain products carry additional eligibility requirements (such as age limits, employment status, or health conditions) that are disclosed during the purchase journey. You are responsible for confirming your eligibility before purchasing any product.

3.2 Account Registration

To access our Services, you must register for a Skydd Account by providing your mobile phone number and verifying it via a one-time password (OTP) delivered via WhatsApp (with SMS as fallback). The account registration process will also require you to verify your identity by providing your Bank Verification Number (BVN). This is a mandatory regulatory requirement; no insurance policy will be issued without a verified BVN. Other Personal Information such as Full Name, Email, etc. will be required as well.

3.3 Account Security

You are responsible for maintaining the confidentiality and security of your login credentials, passwords, devices, and any authentication methods associated with your Skydd Account. You must not disclose your password, one-time password (OTP), verification code, or any other security credential to any Third Party. You agree to notify Skydd immediately if you become aware of, or reasonably suspect, any unauthorised access to, use of, or compromise of your Skydd Account, password, device, or security credentials, including where your password has been lost, stolen, or disclosed.

You further represent and warrant that all information provided during registration and throughout your use of the Platform is true, accurate, current, complete, and not misleading, and you undertake to promptly update any information that becomes inaccurate or outdated. Skydd shall not be liable for any loss, damage, or unauthorised activity resulting from your failure to maintain the confidentiality and security of your Skydd Account credentials.

3.4 One Account Per Person

You may hold only one Skydd Account. Creating multiple accounts is prohibited and may result in suspension or termination of all associated accounts.

3.5 Platform Access and Suspension

Skydd reserves the right to suspend, restrict, or terminate your access to the Platform at any time, without prior notice, where such access poses regulatory, security, operational, or legal risks, or where You fail to comply with these Terms or any applicable laws. Any suspension or termination does not relieve You of financial obligations accrued prior to such action, including unpaid Premiums or other charges.

3.6 Alerts, Notifications and Service Communications

By creating a Skydd Account, you automatically sign up for various types of alerts via email and mobile notification. When logged in, you may customize, modify and in some cases deactivate alerts by adjusting the settings accordingly. We never include your password in these communications, but we may include your name, or email address and information about your Skydd Account if you are a User. Anyone with access to your email or mobile device will be able to view these alerts. You may unsubscribe from marketing-oriented emails at any time.

4. Your Responsibilities

You agree that:

• All registration information provided by you is truthful, accurate, and complete, and will be promptly updated if any details change;
• You will use the Platform and your Skydd Account only for lawful purposes permitted by these Terms and applicable law;
• You will not engage in any activity that interferes with or disrupts the Platform, its servers, or networks connected to it;
• You will not reproduce, duplicate, copy, sell, or resell the Services for any commercial purpose without express written authorisation from Skydd;
• You will not access the Services by any means other than through Skydd's provided interface;
• You will disclose all material facts accurately when applying for any Insurance Product, including health status, occupation, employment history, and prior insurance history. Failure to disclose material facts may void your policy and result in rejection of Claims.

5. Account and Payment Terms

5.1 Account Creation and Purpose

A Skydd Wallet is automatically created upon registration. The Wallet is a stored-value account powered by Sterling Bank via the Embedly platform and is regulated by CBN. The Wallet is used to facilitate Premium payments, refunds, savings transactions, and Claim/maturity payouts. Funds are safeguarded through a Banking-as-a-Service arrangement with Sterling Bank Plc in accordance with CBN regulations.

For convenience, a Wallet is automatically created for each User upon registration. The existence of a Wallet does not require a User to make payments exclusively through the Wallet, and Users may utilise any other payment method made available on the Platform from time to time, including debit card payments, virtual cards, bank transfers, or other approved payment solutions.

5.2 Account Funding

You may fund your Wallet via bank transfer to your unique account number assigned to your Wallet, debit card via Paystack, or USSD.

To facilitate Premium payments, recurring contributions, renewals, and other transactions on the Platform, You may elect to link one or more payment methods to your Skydd Account, debit card payments, virtual cards, bank transfers, or other approved payment solutions supported on the platform from time to time. You may update or remove linked payment methods through the Platform, subject to any outstanding payment obligations.

5.3 Premium Deduction Authorisation

By subscribing to any Service, You authorise Skydd to:

• Automatically debit your Wallet or any linked payment method for recurring Premium payments in accordance with your policy terms;
• Credit your Wallet with refunds arising from overpayments or valid Claims payouts;
• Retain all Skydd Account-related transaction data for audit, reporting, and regulatory compliance purposes;
• Initiate nominal verification debits during card authentication, which shall be promptly refunded upon successful verification.

5.4 Premium as Condition Precedent

In accordance with Section 60(1) of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, payment of Premium is a condition precedent to a valid insurance contract. No insurance cover commences and no certificate is issued until your Premium payment has been successfully processed and confirmed. A pending or processing payment does not create any insurance cover.

5.5 Refund Policy

Refund requests are considered in the following circumstances:

• Duplicate or excess payments verified by our payment processor, due to a technical error. You may opt to transfer the excess to the following month or request an immediate refund to your original payment method.
• Card verification fees of ₦50 charged during onboarding are immediately reversed to the bank account linked to the card.
• Cancellation within the 14-day free look period (see Section 7): full Premium refund where no Claim has been made.
• Cancellation after the free look period: subject to the applicable surrender charge or pro-rata refund schedule disclosed at purchase.

All refunds are processed to the original payment method and are subject to verification procedures to prevent fraud.

5.6 Exclusions

All Insurance Products are subject to exclusions defined by the Underwriter. Common exclusions may include:

• Suicide or self-inflicted injury within 12 months of policy commencement;
• Death or injury arising from war, civil unrest, terrorism, or nuclear events;
• Pre-existing conditions not disclosed at application;
• Fraudulent or dishonest acts;
• Voluntary resignation, retirement, dismissal for misconduct, expiry of fixed-term contract, and self-employment are explicitly excluded from job loss cover.

5.7 Temporary and Final Certificates

Upon successful Premium payment, Skydd may issue a temporary certificate of insurance. In cases where instant policy certificates are available, they are issued instantly.

5.8 Important Disclosures

Interest rates on Savings Products are variable and linked to prevailing money market conditions. The rate at policy inception is stated on your certificate. Projected maturity values are illustrative and based on assumed rates; they do not constitute a guarantee. Skydd is not liable for shortfalls arising from market rate changes. The full target sum assured is protected by life insurance cover regardless of accumulated savings.

6. Claims

6.1 How to Submit a Claim

To make a Claim, navigate to the relevant policy in the Skydd’s Platform and select 'Make a Claim'. You must provide all required documentation as specified for your product and Claim type, and submit as soon as reasonably practicable after the insured event occurs.

6.2 Claims by Third Parties

If a Policyholder dies or is incapacitated, a family member, legal representative, beneficiary, or next of kin may notify Skydd and initiate the Claims process on behalf of the affected Policyholder. Notification may be made through the "Report a Death" feature available on the Platform and by sending an email to Skydd together with reasonable supporting documentation evidencing the death or incapacity of the Policyholder.

Upon receipt of such notification, Skydd may temporarily restrict access to the affected Account, terminate active sessions, place protective controls on transactions, and take such other measures as may be reasonably necessary to safeguard the interests of the Policyholder, beneficiaries, estate, and other affected persons while verification is ongoing.

The claimant or notifier shall provide such documentation and information as Skydd or the applicable Underwriter may reasonably require for the purpose of verification, Claims assessment, regulatory compliance, and benefit payment.

6.3 Fraudulent Claims

Submission of a fraudulent or exaggerated Claim is grounds for immediate cancellation of all policies, forfeiture of Premiums paid, and referral to relevant authorities including the Nigerian Police Force and the Economic and Financial Crimes Commission (EFCC).

7. Cancellation

Cancellation and refund terms depend on the Insurance Product as disclosed at purchase. Account closure can be requested at any time at no cost by contacting us, but You remain liable for any outstanding obligations. Once closed, You will not be able to access Skydd’s Services.

Skydd reserves the right to close or suspend your Account where: information provided does not comply with regulatory requirements; You are in breach of these Terms; You create a legal, regulatory, or security risk; You engage in conduct harmful to Skydd or other Users; or we are required to do so by law or regulatory authority.

8. Data Protection and Privacy

Skydd collects and processes your Personal Information as described in our Privacy Notice, which forms an integral part of this Agreement and is available at https://www.skydd.ng/privacy. By using the Platform, You agree to the collection, use, storage, and sharing of your Personal Information as described in that Notice.

Skydd complies with the Nigeria Data Protection Act (NDPA) 2023 and the General Application and Implementation Directive (GAID) 2025. In the event of an actual or suspected breach of your Personal Information, Skydd will notify You and the Nigeria Data Protection Commission (NDPC) within 72 hours of becoming aware of such breach and will take steps to investigate and mitigate any losses.

9. Platform Evolution and Future Features

Skydd is continuously developing its Platform and product offering. You acknowledge and agree that:

• Skydd may introduce additional insurance, savings, or fintech products and services as part of its evolving offerings;
• Continued use of the Platform after new features are introduced constitutes acceptance of any additions, subject to these Terms;
• Any new features or tools shall be subject to these Terms unless expressly stated otherwise;
• Skydd does not guarantee compatibility of new features with all User devices or operating systems and shall not be liable for limitations arising from such incompatibilities.

10. Cookies and Tracking

The Skydd web Platform employs cookies and similar tracking technologies to enhance your experience, enable functionality, and collect analytical data. By using the Platform, You consent to the use of cookies in accordance with our Privacy Notice and Cookie Policy. You may manage cookie preferences through your browser settings; however, disabling all cookies may limit the functionality of certain features. For further information about cookies, visit www.allaboutcookies.org. Our mobile application does not use browser cookies but may use app-level analytics based on aggregated and anonymised data. Skydd does not integrate third-party advertising trackers or pixels.

11. Intellectual Property

All intellectual property rights associated with the Platform, including but not limited to trademarks, logos, software, content, formatting, and design, are owned by Skydd or its licensors and are protected by applicable Nigerian and international intellectual property laws.

You are granted a limited, non-exclusive, non-transferable licence to access and use the Platform for personal, non-commercial purposes in accordance with these Terms. You must not copy, reverse-engineer, decompile, disassemble, modify, reproduce, distribute, or repost any part of the Platform without prior written consent from Skydd. Any misuse of Skydd's intellectual property may result in immediate Skydd Account termination and legal action. You agree to notify us promptly if You become aware of any infringement or misappropriation of our intellectual property rights and to cooperate fully with us, at our cost, in any enforcement action we take.

12. Disclaimer and Limitation of Liability

12.1 Platform Provided "As Is"

The Platform and its Services are provided on an "as is", "as available", and "with all faults" basis. Skydd disclaims all express or implied warranties, including warranties of merchantability, fitness for a particular purpose, and non-infringement. Skydd makes no representations as to the usefulness, accuracy, or completeness of any content or information on the Platform.

12.2 Skydd's Role as Intermediary

Skydd is an insurance distribution intermediary and does not underwrite any risk. Skydd is not responsible for the financial performance, solvency, or Claims-paying ability of any Underwriter. All Claims are subject to assessment by the relevant Underwriter, and Skydd's liability is limited to facilitating the Claims process.

12.3 Aggregate Liability Cap

To the maximum extent permitted by Nigerian law, Skydd's aggregate liability to You for any cause whatsoever shall not exceed the total premium paid by You to Skydd in the 12 months preceding the event giving rise to the Claim. Skydd is not liable for indirect, consequential, or incidental losses; loss of data; loss of business; or decisions made by Underwriters on Claims.

12.4 Malware and Security

Skydd does not guarantee that the Platform will be free from bugs, viruses, or malware. You are responsible for configuring your devices with appropriate malware protection. You must not introduce viruses, trojans, worms, or other malicious code to the Platform. Any breach of this provision constitutes a criminal offence under the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act 2024, will be reported to relevant law enforcement authorities, and will result in immediate termination of your Account and right to any refunds.

13. Indemnification

You agree to indemnify, defend, and hold harmless Skydd, its affiliates, officers, directors, employees, partners, agents, licensors, and service providers from and against any Claims, demands, losses, liabilities, damages, judgments, awards, costs, or expenses (including reasonable legal and accounting fees) arising out of or relating to:

• Your access to or use of the Platform or Services;
• Your breach of these Terms or any applicable law;
• Any content You provide or actions You take through the Platform;
• Any infringement or misappropriation of the intellectual property rights of Skydd or any Third Party.

14. Restricted Activities

14.1 Fraud Activities

You agree not to engage in any fraudulent, deceptive, manipulative, abusive, or dishonest conduct in connection with your use of the Platform, any account, referral programme, promotional offer, Savings Product, Insurance Product, reward programme, or any other Service offered by Skydd. For the purposes of these Terms, "Fraud" or "Manipulation" includes any act, omission, scheme, arrangement, or conduct intended to improperly obtain benefits, rewards, incentives, credits, refunds, commissions, payouts, or any other advantage through misuse of the Platform, whether such conduct is undertaken directly or indirectly.

Prohibited conduct includes, without limitation:

• Creating, operating, or controlling multiple Accounts for the purpose of obtaining referral bonuses, promotional rewards, incentives, or circumventing Platform restrictions;
• Providing false, misleading, inaccurate, or fictitious information during registration, verification, Claims submission, or any transaction conducted through the Platform;
• Transferring funds between Accounts owned, controlled, or accessed by the same person or related persons for the purpose of creating artificial activity, qualifying for rewards, or circumventing Platform requirements;
• Engaging in any activity intended to manipulate transaction records, Claims, referral programmes, savings milestones, Premiums, account balances, or eligibility criteria;
• Attempting to exploit technical errors, system vulnerabilities, pricing errors, processing delays, software bugs, or operational loopholes for financial gain; and
• Participating in any activity which Skydd reasonably determines constitutes fraud, abuse, manipulation, money laundering, identity theft, or misuse of the Platform.

Where Skydd reasonably suspects Fraud or Manipulation, Skydd may investigate the activity and, where appropriate, suspend Accounts, withhold rewards, reverse transactions, reject Claims, recover improperly obtained benefits, freeze funds where permitted by law, terminate Accounts, or report the matter to the relevant regulatory, law enforcement, or governmental authorities.

Any determination made by Skydd pursuant to this clause shall be exercised reasonably, in good faith, and based on the available evidence and investigation findings.

14.2 General restrictions

You agree that You will not:

• Impersonate any person or entity or misrepresent your identity or affiliation;
• Violate any applicable law, statute, rule, or regulation;
• Submit false, inaccurate, misleading, defamatory, or fraudulent information;
• Interfere with or disrupt the Platform, servers, or networks connected to it;
• Infringe any Third Party’s intellectual property, privacy, or other legal rights;
• Transmit malicious code, files, or programs designed to harm or disrupt the Platform;
• Reverse-engineer, decompile, disassemble, or modify any part of the Platform or its software;
• Rent, lease, sell, redistribute, or sublicense the Platform or any portion of it;
• Use automated bots, spiders, scrapers, or data-mining tools on the Platform;
• Transfer or sell your Account, password, or credentials to any Third Party;
• Any breach of this clause is grounds for immediate Account termination and may result in civil or criminal legal action.

15. Third-Party Links

The Platform may include links to third-party websites or services. Skydd does not control the accuracy, completeness, or content of those websites and cannot accept responsibility for them. Your use of any linked website is at your own risk and subject to the terms and privacy policies of that website. Any Personal Information You share with a third-party website is governed by that website’s privacy notice, not Skydd’s.

16. Survival

The following provisions survive termination or expiration of this Agreement: Wallet balances, outstanding payments, and refund obligations; Intellectual Property Rights; Confidentiality and Data Privacy; Disclaimers and Limitations of Liability; Indemnification; and Governing Law and Dispute Resolution. Termination does not release either party from obligations incurred prior to termination.

17. Force Majeure

Skydd shall not be liable for any failure or delay in performance of its obligations where such failure or delay arises from causes beyond its reasonable control, including Acts of God, floods, earthquakes, epidemics, pandemics, acts of war, terrorism, civil unrest, governmental actions, regulatory constraints, power failures, internet outages, or labour disputes. Where a force majeure event subsists for more than 30 days, either party may terminate the Agreement without liability, provided outstanding financial obligations incurred prior to termination remain enforceable.

18. Dispute Resolution

18.1 Amicable Resolution

In the event of any dispute or complaint arising from these Terms, the parties shall first attempt amicable resolution through dialogue within 30 days of the dispute arising. Please contact us at info@skydd.ng as a first step.

18.2 Mediation

If the dispute cannot be resolved amicably, it shall be referred to mediation at the Lagos Multi-Door Courthouse (LMDC) in accordance with applicable Nigerian law. If mediation does not result in resolution within 30 days of commencement, either party may submit the dispute to a court of competent jurisdiction.

18.3 Injunctive Relief

Both parties acknowledge that a material breach of these Terms may cause irreparable harm to Skydd for which monetary damages may be inadequate. Accordingly, in addition to any other remedies, Skydd shall be entitled to seek immediate equitable relief, including injunctive relief, specific performance, or other urgent legal remedies.

18.4 Jurisdiction

These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. You irrevocably submit to the exclusive jurisdiction of the courts of Lagos State, Nigeria. Nothing in this clause prevents You from exercising statutory consumer rights or making a complaint to NAICOM or the CBN.

19. Amendments and Entire Agreement

Skydd reserves the right to amend or update these Terms at any time. Material changes will be posted on the Platform and notified to Users at least 30 days before taking effect. Continued use of the Platform after the effective date of updated Terms constitutes acceptance of the changes. The current version is always available at https://www.skydd.ng.

These Terms, together with our Privacy Notice and all applicable product terms, constitute the entire agreement between You and Skydd regarding the Services and supersede all prior agreements or understandings. If any provision is held invalid or unenforceable, it shall be replaced with a valid provision reflecting the original intent, and all other provisions shall remain in full force and effect.

20. Breach and Waiver

Any express waiver or failure to promptly exercise any right under these Terms will not create a continuing waiver or expectation of non-enforcement. To the extent that anything on the Platform conflicts with these Terms, the Terms shall prevail.

21. Contact Us

For questions, concerns, or technical support relating to these Terms or your use of the Platform:

• Entity: Skydd Insurance Brokers Limited
• Website: www.skydd.ng
• Email: info@skydd.ng
• Phone: 09130287658
• Address: 11b, Oko Awo Street, Victoria Island, Lagos

© 2026 Skydd Insurance Brokers Limited. All rights reserved.