The National Insurance Commission (NAICOM) has called on insurance operators in the country to fundamentally rethink how they design, communicate and deliver insurance products to the customers in the industry.
Speaking on Monday at the opening ceremony of Insurance Week 2026 in Abuja, the Commissioner for Insurance/Chief Executive Officer of NAICOM, Mr. Ayo Omosehin, underscored the need for a more deliberate and strategic approach to public engagement to bring insurance closer to the people.
“We must therefore rethink and reposition our communication strategies. Public awareness campaigns must move beyond generic messaging and evolve into more targeted, relatable, and sustained initiatives. We must communicate in languages people understand, through platforms they trust, and using real-life scenarios that resonate with their everyday experiences,” he said.
The NAICOM boss noted that despite the inherent value of insurance as a critical risk management tool, insurance appreciation remains the best parameter for measuring its impacts. Stating that a major contributor to observable gaps in the desired impacts is the persistent lack of adequate public understanding of insurance products, processes, and benefits.
Mr Omosehin, who was represented by the Deputy Commissioner for Insurance, Finance, and Administration, Mr. Ekerete Ola Gam-Ikon, said the Commission regards public awareness not as a peripheral activity but as a core strategic priority. Adding that the success of insurance in any economy is fundamentally anchored on the level of public understanding, trust, and acceptance.
“Without awareness, there can be no demand. Without understanding, there can be no trust. And without trust, sustainable growth cannot be achieved.
“It is not enough for people to simply know that insurance exists—they must understand how it works, why it matters, and how it can protect their lives, assets, and aspirations,” he added.
He said it was on that basis that the Commission has continued to champion initiatives that promote financial literacy, consumer education, and transparency.
“We are leveraging strategic partnerships, engaging diverse stakeholders, and deploying innovative communication channels to reach underserved communities, small businesses, and emerging segments of the economy,” he added.
The CFI however, said that achieving meaningful and lasting impact requires collective action, saying that awareness cannot and should not be the sole responsibility of the regulator.
He emphasized that insurers have a pivotal role to play in reshaping public perception and strengthening confidence in our industry. Pointing out that one of the recurring criticisms of the insurance sector has been the perceived disconnect between product offerings and the actual needs of policyholders; where there is a perception that insurance Companies only sell what has been produced, rather than producing what can be sold.
“This, in itself,is an attempt to differentiate between marketing and selling.This perception must change, and that change must begin with how products are conceived, designed, and delivered.
“Insurers must deliberately transition from a product-centric approach to a customer-centric model. This entails actively involving clients in the product development process seeking their input, understanding their expectations, and designing solutions that align with their real-life needs.
“When clients are actively engaged in product design, several positive outcomes emerge. Products become more relevant and accessible, pricing structures have become more acceptable, and, most importantly, trust and ownership are significantly enhanced.
“By designing products that cater to strategic sectors, entrenches an attempt to deliberately align and contribute meaningfully to economic development whilst expanding its reach and relevance.
“Of importance is the need to support infrastructure development, agriculture, and the growth of micro, small, and medium enterprises (MSMEs),” he noted.
Mr Omosehin also spoke on the need to simplify insurance documentation and communication, saying that insurance must not be perceived as opaque or overly complicated, but must be transparent, straightforward, and easy to navigate.
He also mentioned the need to improve policyholders’ understanding of claims processes.
“The claims experience is widely regarded as the “moment of truth” in insurance. It is the point at which the promise of insurance is either fulfilled or undermined.
“Insurers must therefore ensure that policyholders are well-informed about claims procedures from documentation requirements to timelines and expectations. Delays, ambiguities, or perceived unfairness in claims settlement not only erode trust but also weaken confidence in the entire system.
“By strengthening communication, improving service delivery, and prioritizing fairness, insurers can significantly bridge the trust gap and reinforce the credibility of the industry,” he said.
