The National Insurance Commission (NAICOM) has convened the 21st Insurers Committee Meeting to build a more resilient, inclusive and innovation-driven insurance industry.
Held on Thursday in Lagos, the meeting brought together industry operators and stakeholders from across the nation’s financial ecosystem.
NAICOM, in a statement made available on Friday, said deliberations at the meeting centred on portfolio risk sharing, value chain optimisation, and aligning industry practices with national economic development priorities.
Speaking during the meeting, the Commissioner for Insurance, NAICOM, Mr. Ayo Omosehin, reaffirmed the Commission’s commitment to fostering a robust and policyholder-centric insurance ecosystem.
He emphasised that sustained progress would depend on deeper collaboration among insurers, banks, fintechs, and regulatory institutions, underpinned by forward-looking policy and regulatory frameworks.
The Committee collectively agreed on the need for coordinated and deliberate action to address structural constraints, accelerate innovation, and strengthen consumer trust in the insurance sector. Particular emphasis was placed on leveraging technology and cross-industry synergies to drive insurance penetration and improve service delivery outcomes nationwide.
On performance and service delivery, the Committee noted NAICOM’s strong standing, currently ranked 1st in the Business Finance & Risk Optimization Cluster and 9th overall on the PEBEC Reform Tracker, reflecting continued progress in regulatory efficiency and sectoral reforms.
