Once again, let me use this opportunity to congratulate the new Commissioner for Insurance, Sunday Thomas on his appointment as the Commissioner for Insurance.
He is a thorough bred professional and a round peg in a round hole. For me, his priority should be market development. He should come up with strategies to develop the market. By so doing, we shall increase market penetration and also increase our contribution to the GDP.
The second area is to focus on confidence building in the minds of the insuring public. Insurance Companies must meet their obligations as and when due. Once this is done, members of the public will be motivated towards embracing insurance.
Rules should be designed and companies who fail to play by the rules should be sanctioned.
The third area of focus should be on digital technology. Technological advancement at NAICOM and also at the level of operators should be a front burner issue for the Commission.
Past Chairman, Nigerian Insurers Association, Tope Smart