Technology and Innovation in the Insurance Sector The technology will enable insurers across the country to efficiently enable predictive analysisNEXT » Image credit: shutterstockRahul AgarwalChief Technology Officer of Policybazaar.comSeptember 2, 2019 As the insurance industry is evolving, so are the customers. Insurers are constantly receiving ideas from all the corners, and thanks to technology. And […]
By Claudia Huber Considering Nigeria’s socio-economic particularities and that only about 1% of the adult population has insurance coverage, Nigeria’s development plan, “Vision 2020,” describes the country’s insurance sector as a huge and untapped opportunity. Against this context, the National Insurance Commission (NAICOM), the regulatory body for insurance in Nigeria, approached the Access to Insurance Initiative, the partnership Making […]
Microinsurance is the protection of low-income people against specific perils in exchange for regular premium payments proportionate to the likelihood and cost of the risk involved1. It typically refers to insurance services offered primarily to clients with low income and limited access to mainstream insurance services and other means of effectively coping with risk.Microinsurance in […]
Compulsory Insurances are insurances made obligatory by legislation to provide protection to the third party and the general public. Most of these insurances are not as expensive as you think. For instance, you can purchase a Third Party Motor Insurance for as low as N5,000.00. Not all insurances are compulsory, but most of the compulsory […]
By ZAKA ABD-KHALIQ Courtesy: Leadership Newspapers Insurance industry is losing a potential N1 trillion annually from low adoption of insurance by Nigerians, LEADERSHIP findings reveal. And to recoup this money would demand effective enforcement of the five compulsory insurances in the country. Market analysts believe insurance sector is capable of generating about N30 billion premium […]
NAICOM stands for National Insurance Commission The National Insurance Commission (NAICOM) was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring the effective administration, supervision, regulation and control of insurance business in Nigeria and protection of insurance policyholders, beneficiaries and third parties to insurance contracts. The Commissioner For Insurance The […]
From left: Manager Partner, Carmel & Associates, Hon Lawrence Dafiode; National Chairman, Retail Insured Family Association of Nigeria, Akin Bello and Managing Director, Universal Insurance Plc, Ben Ujoatuonu at the event in Abuja.
Retail Insured Family Association of Nigeria (RIFAN) is a non-profit organisation bringing together an association of insuring public in Nigeria with the primary objective of enhancing insurance growth in Nigeria. Our mission is to be a trustworthy and useful information resource and an effective voice for consumers of all types of insurance in all 36 […]
From left: Coordinator of Retail Insured Family Association of Nigeria, Chief Ali Ugwu Theophilus and representative of the Inspector General of Police, P.J. Mahanan at the event. Tap Here To Call Us Legal Insurance Blog HOME CONTACT MORE May 15, 2015 3 Major Reasons for Consumer Protection by Len Feltoon Group Legal Plans Give Necessary […]
