Media

By Tennyson Sampson

THE National Insurance Commission, NAICOM, had in the last eight years been grappling with such issues as deregulatory factors, demand and environment influences as well as cultural and other societal habits, according to the assistant director, Corporate strategy and special duties of NAICOM, Usman Jankara.

Delivering the paper on “The Insurance Sector and the Nigerian Economy in the past eight years: the Impact, challenges and the new frontiers”, at the ongoing retreat for journalists, organized by NIACOM in Uyo on Friday, Jankara stated that NAICOM has been playing crucial roles in improving stakeholders perception of the industry.

He disclosed that NAICOM had been engaging the state governments on the benefits of insurance policies and how such policies would assist in driving their development goals.

Speaking on “Re-awakening the Nigerian Insurance industry through claims settlement, Augustina Unojake, assistant director, Complaint Bureau Life, noted the poor perception of the insurance industry which she blamed largely on ignorance.

According to her, insurance policies and schemes were previously seen as schemes developed to rob people of their hard earned money.

She said that it was usually difficult persuading clients to buy insurance policies in the past, but she admitted there has been some improvements in the industry and that “it is easier now”.

In his speech, Ibrahim Ngaski, assistant director of information technology, NICOM, emphasised the need for insurance agents and brokers to embrace technology in their operations.

Speaking on “Leveraging Technology to promote insurance inclusiveness”, Ngaski highlighted some of the ways technology can be applied to improve operations in the industry.

He said the Commission had been taking several measures to ensure that technology was available for the players in the industry to leverage on.   

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August 25, 2023 @ 16:15 GMT| 

Tags: Augustina Unojake Ibrahim Ngaski Usman Jankara