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Thursday, August 11, 2022

Nigeria to introduce digital insurance policy to curb fake policy

The National Insurance Commission (NAICOM) said it plans to introduce digital version of insurance certificates in a bid to ensure seamless process of tracking and eliminate fake policy.

Accoridng to NAICOM chief executive, Sunday Thomas a real-time digital platform to aid the process is receiving speedy attention from the commission and will be concluded soon.

Thomas noted that all insurance policies will be uploaded on the portal and all fake insurance can be detected easily as every insurance policy in Nigeria will be uniquely registered and identified online.

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“We have sensitised the technical people in the industry and they have been going through a series of training. The next thing we are going to do is to engage the industry with IT guidelines.

“It is no longer going to be historical reporting. This administration in NAICOM will not fail Nigerians. We want to be seen the way we are so we know where to make amends.

“NAICOM is an agency of the federal government and has the responsibility to make some impact on the economy,” Thomas said.

The Deputy Director in charge of Information Technology in NAICOM, Abiodun Aribike, said that the strategies, which would be made available through the portal, would help to reduce incidences of fake insurance, improve productivity and revenue in the industry.

Aribike, in a paper at a seminar titled, “Digital Transformation of NAICOM’s Processes and Procedures,” said the Commission had also begun training of stakeholders in the sector to effect the digital transformation.

He said the digitisation strategy would help the people to source information about insurers to check their genuineness. “We have trained brokers in the South West and we want to train those in the South South as well as South East for them to join the portal. This will improve productivity; enhance stakeholders’ collaboration, trust and resource management.”

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