Kindly leave a comment and share
Chuks Udo Okonta
Insurance companies are working on simplying claims payment processes by reducing the number of documents required from claimants, the Chairman of Nigerian Insurers Association (NIA) Kunle Ahmed, has said.
He disclosed this today at a press conference in Lagos, stating that the association’s Technical Committee and the Nigerian Council of Registered Insurance Brokers (NCRIB) have been saddled with the responsibility to review the documents often asked by insurance companies for claims processing.
He noted that the outcome of the review would bring about reduction in the documents, whilst only essential documents would be required to ensure speedy claims payment.
He said claims payment remains a sole responsibility of reputable companies, stressing that the association would also launch a digital fintech platform to enhance prompt claims settlement.
Ahmed said the association is also working with the Institute of Loss Adjusters of Nigeria (ILAN) to ensure prompt claims payment.
He maintained that insurance companies are ready to pay all valid claims, promptly to ensure policyholders are happy.
On the claims complaints recently published by the National Insurance Commission (NAICOM), he said the publication was a weak up call for the industry, stating that the association has asked companies to reconcile their claims profile with NAICOM so as to ascertain the true position of outstanding claims.
