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Chuks Udo Okonta
The Retail Insured Family Association of Nigeria ( RIFAN), the largest consumer association of insurance in Nigeria with the major aim to restoring insured confidence in Insurance Industry, has expressed disatisfation over the poor coordination on the implementation of the integration of third party insurance with Nigerian Insurance Industry Portal (NIIP).
The Director-General of RIFAN Ali Theophilus, who expressed his misgivings on the development, had after a stakeholders’ meeting at their head office in Abuja, admitted his worries that innovation originally tailored to salvage already battered image of insurance Industries if not properly handled could experience a lot of sabotage especially from the unlicensed insurance agents.
Recall that in his previous press publication, he raised alarm over advances of unlicensed insurance agents who have been engaging Vehicle Inspection Officer (VIO) in various license offices in Abuja and environs. And seeks intervention of relevant stakeholders to avert such ugly trend before it’s escalated. While commending the innovation of the proposed integration of third party insurance to NIIP, advised that adequate training and proper implementation process be put in place, adding that it would be an avenue for the unlicensed insurance agents to infiltrate the market especially co-operative insurance if proper check is not placed on them.
Stressing further, he calls on the NIA to take immediate actions to arrest the impending danger as his worries in the past is already becoming a reality. Stating that, various license offices in Abuja and other states have started patronizing the unlicensed insurance agents who are selling co-operative Insurance policies to them believing to be at cheaper rate.
He further entreated NIA to call to order some of his members and underwriters who out of personal interest and unhealthy competition are thwarting the supposed innovation that would have restored the image of the industry.
In other words, Association of Registered Insurance Agents (ARIAN) should as matter of urgency institute an Operation he titled ” *Operation Show your License”* stressing that in insurance act, it’s unlawful, offences and crime to operate as insurance agents without license. Adding that if this could be pursued accurately, would help NAICOM to meet its’ target of 3million agents before the year runs out. He reiterated that RIFAN is ready to partner with NAICOM, NIA, ARIAN and other relevant stakeholders to check mate the activities of agents in the industry targeting on reassuring hope of policy holders.
On technology, RIFAN portal, he said is almost 95 per cent completion, assuring that soonest, the portal would be launched where there is buyer platform to have hand check with underwriters and NIA to enable members of RIFAN buy policies stress-free. With this, he noted that insuring public confidence would be restored.
