Terms and conditions

2.1. Balloon is available to individuals and entities registered as insurance agents, brokers, or microagents, subject to verification.

2.2. You must be at least 18 years old and legally capable of entering into binding contracts.

2.3. You must provide accurate identification information, including your Bank Verification Number (BVN) and National Identification Number (NIN), as required for NAICOM compliance and policy issuance.

2.4. Balloon reserves the right to approve, decline, or revoke access to the Platform at its sole discretion.

3.1. You are responsible for maintaining the confidentiality of your login credentials and for all activity conducted under your account.

3.2. You must notify Balloon immediately of any unauthorized use of your account.

3.3. Balloon is not liable for losses arising from your failure to safeguard your credentials.

4.1. Users act as intermediaries facilitating the sale of insurance products underwritten by licensed third-party insurers ("Underwriters") and are not employees of Balloon.

4.2. Users must accurately represent product terms to customers and must not make promises or guarantees beyond what is stated in the policy documentation.

4.3. Users must not misrepresent themselves as underwriters or as Balloon staff.

4.4. Commission structures, where applicable, will be communicated separately and may vary by product and Underwriter.

5.1. All policies sold through Balloon are subject to the terms and underwriting criteria of the relevant Underwriter.

5.2. Users must obtain proper customer consent before collecting personal data (including NIN and other identifying information) and must handle such data in accordance with the Nigeria Data Protection Act (NDPA) and Balloon's Privacy Policy.

5.3. Users must not use customer data obtained through Balloon for any purpose outside the scope of policy sale and servicing.

6.1. Premium payments collected on behalf of customers must be remitted through approved Platform channels only.

6.2. Users must not collect cash or off-platform payments for policies sold via Balloon unless explicitly permitted.

6.3. Commission payouts will be processed according to the payment schedule communicated within the Platform.

6.4. Balloon reserves the right to withhold or reverse payouts in cases of suspected fraud, policy cancellation, or breach of these Terms.

7.1. Users must comply with all applicable NAICOM regulations, including NIN-linkage requirements for all policies issued, including third-party purchases.

7.2. Users must not facilitate the sale of insurance products to ineligible customers or misrepresent risk information provided by customers.

7.3. Balloon may conduct periodic audits, training, and compliance checks, and Users must cooperate with such processes.

Falsify customer or policy information;

Engage in fraudulent claims activity or assist customers in doing so;

Circumvent the Platform to transact directly with Underwriters for products sourced via Balloon;

Share login credentials or allow unauthorized persons to transact on their behalf;

Use the Platform for money laundering or any unlawful purpose.

9.1. All trademarks, logos, content, and software associated with Balloon are the property of Balloon or its licensors.

9.2. Users are granted a limited, non-exclusive, non-transferable license to use the Platform solely for authorized insurance distribution activities.

10.1. Balloon provides the Platform on an "as is" and "as available" basis and does not guarantee uninterrupted or error-free operation.

10.2. Balloon is not liable for claims disputes, underwriting decisions, or policy performance, which remain the responsibility of the relevant Underwriter.

10.3. To the extent permitted by law, Balloon's liability for any claim arising from use of the Platform is limited to direct damages and excludes indirect, incidental, or consequential losses.

11.1. Balloon may suspend or terminate a User's access to Balloon for breach of these Terms, suspected fraud, regulatory non-compliance, or at its reasonable discretion.

11.2. Users may terminate their account by providing written notice to Balloon, subject to settlement of any outstanding obligations.