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Chuks Udo Okonta
The Motor Technical Committee (MTC) of the Nigerian Insurers Association (NIA) has said it would soon commenced the review of motor claims process to resolved identified challenges.
The Chairman of the committee, Dr. Joyce Odiachi, disclosed this in a report submitted to the association, noting that the review was informed by the recent spike in fraudulent claims, under insurance and waiver requests from brokers.
She said the Nigerian Insurance Industry Database (NIID) claims upload would also be reviewed to assist the data access.
More on the NIID, Director-General of the association, Mrs. Yetunde Ilori, said out of the estimated 12 million vehicles in Nigeria, only about 3,013,205 third party motor policies are captured on the platform.
NIA stated that a surplus of N125.24 million was realised from upload of motor policies by insurance companies as at December 31, 2022.
