NAICOM, CBN clear NIA to digitalize marine insurance certificate

From left: Head, Corporate Affairs, Nigerian Insurers Association, Davis Iyasere; Director General, Mrs. Yetunde Ilori; Chairman, Mr. Tope Smart; Controller, Information Technology Research & Statistics, Mrs Bola Omole and Director of Operations, Lanre Ojuola at the event.

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) and Central Bank of Nigeria ( CBN) have granted approval to the Nigerian Insurers Association, (NIA) to digitalized marine insurance certificate.

The Chairman of the NIA, Tope Smart, disclosed this today at a press parley in Lagos, adding that the move is aimed at generating more income for the industry and contributing to the nation’s Gross Domestic Product (GDP)

According to him, the initiative will also help the industry to recover all lost income prior the approval and that the industry is also adopting the use of technology to drive insurance business, adding that technology plays vital role in the growth of any business and economy.

The NIA Chairman who also doubles as Group Managing Director of Nem Insurance Plc, said the association will this year, collaborates with other industry bodies to grow the market and improve the industry.

He said the the bodies will speak in one voice and ensure people’s oriented policies are introduced to promote the industry and the economy.

The NIA Boss said he is optimistic that this year will be better and the industry will grow, whilst assuring that the government will renew the group life policy.

He said the industry has being responsive in meeting genuine claims responsibilities, stressing that the industry will continue to honour the payment of all genuine claims.

On the number of vehicle properly insurance in the country, he said 2.5 million vehicles are actively captured on the Nigerian Insurance Industry Database (NIID), while the actual number of upload on the platform is over 3 million.

Smart called on the law enforcement agencies to support the insurance industry by ensuring that there is strict enforcement of insurance laws.

From left: Director General, Nigerian Insurers Association, Mrs Yetunde Ilori; Chairman, Mr.Tope Smart and Director of Operations, Mr. Lanre Ojuola at a press conference in Lagos.

Director General, Mrs. Yetunde Ilori, noted that the industry is working assiduously on the industry’s unified platform for the sales of third party motor insurance code- named: Nigerian Insurance Industry Portal (NIIP), adding that the portal will be launched before the association’s current Chairman leaves office.

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