By Favour Nnabugwu WITH matured markets and intense competition in the developed economy, foreign companies have began to throng the country’s insurance sector for virgin market. The nation’s insurance industry in the last few years has been largely shaped by the influx of foreign investors, and growing enquiries by many […]
Insurance
Insurance software tailor-made for the Nigerian market
ATB TechSoft Solutions, a Nigerian software company has reinforced their belief in Nigerian software and their engineers with the announcement of their locally made product, Ultisure. Mr. Abiodun Atobatele, the Chief Executive Officer of the company announced the release of Ultisure during an interview with Vanguard. Atobatele spoke of how […]
Insurers may say ‘we have to get out’ if Obamacare repealed without replacement
If Republicans repeal the Obamacare individual mandate without a concrete replacement plan, we could see another year of big price increases and insurer withdrawals for open enrollment in 2018, according to a new report. “The greater the uncertainty, the higher the rates,” said Sabrina Corlette, a Georgetown University research professor […]
218 families of fallen soldiers receive insurance cheques from FG
The Nigerian government has given insurance cheques to the families of soldiers and officers who died in the line of duty – The cheques were received by next of kin to the deceased military personnel – The federal government also promised that the welfare of all serving personnel with the […]
Firm to slash insurance premium with pay-as-you-drive software
Abiodun Atobatele, CEO., ATB Techsoft Solutions (left), with Oluwawemimo Adeniyi, Director, Small Mid-Market Solutions and Partners Group, Microsoft Nigeria, during the media launch of four unique solution offerings of ATB in Lagos. Leave a comment and share Chuks Udo Okonta The Nigerian insurance industry would soon witness a revolution as […]
Insurers committee holds first annual retreat
Leave a comment and share Chuks Udo Okonta The Insurers Committee under the leadership of National Insurance Commission (NAICOM) in line with efforts to chart way forward for Nigerian Insurance Industry, has scheduled to hold her 1st Annual Insurers’ Committee Retreat at the Park Inn by Radisson Hotel Abeokuta, Ogun […]
Insurance firms with dwindling capital may lose licence
Kari Leave a comment and share Chuks Udo Okonta The National Insurance Commission (NAICOM) hopes to implement the law against insurance firms that failed to meet statutory capital base, Inspen can report. It was gathered that the outcome of the proposed capital verification which is billed for the first quarter […]
60% of vehicles on Indian roads don’t have insurance
Nearly 60% of the vehicles plying on Indian roads are uninsured, most of them motorcycles and scooters. The data has been complied by General Insurance Council (GIC), which represents the country’s general insurers. In 2015-16, India had around 19 crore registered vehicles; of these, only 8.26 crore were insured, said […]
NAICOM to Probe Capital Base of Insurance Companies
• Moves to limit bogus mgt expenses James Emejo in Abuja The National Insurance Commission (NAICOM) said it would verify the capital resources of all insurance companies operating in the country during the first quarter of the year. It stated that the probe had become necessary in view of the […]
United General Insurance to Launch Pay-As-You-Drive
United General Insurance Company, an African insurer, will implement Inseego’s Ctrack telematics product for a new pay-how-you-drive insurance product. Ctrack uses on-board devices to gather and monitor data related to driver behavior including accidents, fuel consumption and mileage. The goal of the new product is to incent drivers to drive […]
