Nigeria’s Insurance industry hinges on digital, market development strategies

The National Insurance Commission, (NAICOM), Nigeria’s insurance industry regulatory agency, is considering pragmatic steps that will bring about overall transformation of the sector and make it attractive and viable.

NAICOM, in its regulatory considerations has concluded plans to release a bouquet of strategic plans to transform Insurance industry.

Sunday Thomas, head of the agency and Commissioner of Insurance, told a media summit on Thursday that those reforms would be unveiled soon.

Thomas spoke at a dinner heralding the kickoff of NAICOM’s 2021, seminar for insurance and pension journalists in Lagos on Thursday.

The event holds annually as part of training and Capacity Building for insurance journalists.

According to the NAICOM boss, the industry will begin to experience new reforms, strategic plans, digital and market development that will transform the insurance industry.

Thomas, who was represented by Mr Sabiu Abubakar, said the said that the commission would continue to collaborate with journalists considering their role in the industry. “We will always appreciate your support in promoting the NAICOM agenda.