Wednesday, November 30Inside Business Africa

NAICOM to deepen insurance penetration with digital tool

The National Insurance Commission (NAICOM) has unveiled a digital platform to drive insurance business and deepen penetration.
The portal, which was developed for six years, has been concluded as part of the ongoing reforms by the commission.

The Commissioner for Insurance/Chief Executive Officer, NAICOM, Sunday Thomas, said the new portal enables an individual to conduct an insurance business from any part of the world.

He said: “We will be looking at the digital world. Part of what we have done so far is the fact that our portal that was on the drawing board for over six years has been fixed. It is taking us from where we are to the next level.

“We have sensitised the technical people in the industry and they have been going through a series of training on it.
The next thing we are going to do is to engage the industry with IT guidelines. It is no longer going to be historical reporting.”

Speaking at a conference in Uyo, Akwa Ibom, Thomas said NAICOM was doing everything possible to boost insurance business.

He said: “It is not by coincidence that we are having this conference today that we are marking our 60th anniversary as a nation.

NAICOM as an agency of the Federal Government has the responsibility to make an impact on the economy.

Acknowledging that the investment climate was tough, he said the Commission was determined to make a difference and that there would be no hindrance to information dissemination going forward.

He noted: “If there is a need for change, let us know. And I need to explain, I will not hesitate to do so. We have challenges but we are determined to overcome them. We try as much as possible to encourage investors, government and other stakeholders to attend our programmes.

“The terrain is tough but we are determined to succeed. Nigeria is not by accident the largest economy in Africa. We must take advantage of the large population.

Source: Guardian

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