Communique from this week Insurance industry think-tank developmental research initiative


* There is need to include Health insurance as part of compulsory insurances in Nigeria.

* Government should provide accurate data to aid insurance growth.

* Clients needs and satisfaction should be esteemed during insurance product design and development.

* Issues of fraudulent claims should be tackled through insurtech.

* Customers feedback and reviews on claims payment are essential for business growth.

* Premium payment should be made flexible to growth retail insurance business.

* Prompt claims payment is a unique strategy for growth.

* National Insurance Commission (NAICOM) should partner Central Bank of Nigeria (CBN) on Bank Verification Number (BVN) to aid onboarding of insurance policyholders.

* Enforcement of insurance laws would engender job creation and revenue generation.

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