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NAICOM migrates to online insurance operations

The National Insurance Commission (NAICOM) has migrated its operational activities to online. The new policy, which became operational yesterday, is aimed at enhancing efficient and effective service delivery of its operations. Consequently, the commission, in a circular directed to managing directors/chief executives of all insurance institutions dated August 27 and signed by Director, Policy and Regulations, NAICOM, Mr. L. M. Akah, said there shall be no manual submission of requests/ application effective from September 1, except through its online portal. The statement added that “all insurance institutions are require to align their operations to NAICOM portal for submission and processing of all requests such as certificate of registration/ renewal, Approval-in-Principle (AIP), product authorizations, micro insurance, takaful insurance, letter of request, financial statement approval, enforcement actions, governance and complaint issue among others.” NAICOM said all insurance related issues requiring the commission’s attention will henceforth be entertained through its dedicated licensing system.

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