Insurance Policy System unfolding on Naicom Portal

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By Favour Nnabugwu

The innovation going on the National Insurance Commission now are second to none, as the regulatory body has began to unfold Insurance Policy System

It is a system whereby all insurance companies will upload the policies from year 2016 to 2021. This allows policies by class by companies, that the regulator, Media, customer can check which policy is valid as each and every policy has a unique identification number. One check the total policies by individual or group.

The uniqueness of it is that if a policy is not valid, the it will not appear on the portal.

The Head of IT, NAICOM, Abiodun Aribike, while presenting a paper titled ‘NAICOM’s Digital Transformation, Progress So Far’ described digital transformation enforcing effectiveness, efficiency and cost reduction in the way things are done.

According to him, “This means replacing manuals with digital operation to ensure time-saving and encourage innovation”

Aribike said the commission had upgraded its portal to eradicate fake insurance and deepen insurance penetration.

He added that the commission would continue to upgrade its technology to meet with global trend in the industry.

He informed that insurance companies are cooperating with Naicom and have began to upload policies from 2016 into the portal.

He was sure that in the next two weeks, most of the policies would have substantially uploaded for clients, Journalists and anyone can check to confirm whether the policies they have are genuine or not.

Aribike also said insurance can submit their documents on the portal without having to come in person to Abuja, adding once their document are complete and cleared, they will see it there but where there is one or two things lacking, it will also reflect on the portal for companies to do the needful as well.

Renewal and licensing of certificate too, can also be done on the portal, a signed and sealed certificate can be printed out from the portal

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