Insurance

NAICOM, NCC agree to reinstate mobile insurance

.Telcos to be licenced as distribution channels

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Chuks Udo Okonta

The National Insurance Commission (NAICOM) and the Nigerian Communications Commission (NCC) have agreed to reinstate the sales of insurance through platforms of telecommunications firms.

The agreement, which has paved way for licensing of telcos as distribution channels, was reached yesterday when the Commissioner for Insurance, Mohammed Kari, led the management of NAICOM to the Headquarters of the NCC in Abuja.

The Head, Corporate Affairs NAICOM, Rasaaq Salami, told Inspenonline that the team from NAICOM were received by the Executive Vice Chairman [EVC] and Chief Executive of NCC, Prof. Umar Garba Danbatta, stressing that the NCC at the meeting endorsed the collaboration between insurance firms and telcos in the sales of insurance products.

Salami noted that the NCC boss maintained that he has no objection to registration of telecommunications firms as distribution channels provided their operations do not negate stipulated rules.

He said part of the resolutions reached at the meeting was for NAICOM to develop and send the mode of operations to the management for the NCC for necessary input.

According to him, the guidelines which had already been developed, together with the Memorandum of Understanding will be sent to the NCC before Friday this week.

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