Naicom propagates insurance to Katsina State

By Favour Nnabugwu

 

The National Insurance Commission,Naicom paid a visit to Katsina State on deepening insurance with the State

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R- The Commissioner for Insurance, Mr Sunday Thomas with Katsina State Governor, Aminu Bello Musari to tighten ties with Katsina State on deepening insurance penetration and enforcement of compulsory insurances. on deepening insurance penetration and enforcement of compulsory insurances.

Naicom delegates and the Katsina’s during the visit yesterday.

 

L- Commissioner for Insurance, Mr Sunday Thomas discussing insurance with Katsina government

Rotimi goes to Germany for exclusive shows

By Favour Nnabugwu
Olurotimi Akinosho with a stage name Rotimi appears in Germany for an exclusive show.
The American actor, singer and model, born to Nigerian parent, father is a Yoruba and mother from Igbo, will perform his debut album in Berlin on 20 May, part of his ongoing world tour to promote his debut album “All or Nothing”.
He co-signs with T-Pain, 50 Cent, JAY-Z, Jamie Foxx and TI, singer-songwriter Rotimi ushers in a new era of game changers.
While he has so far been best known for his acting roles, such as in the American hit series “STARZ”, Rotimi also really got off to a musical start with his debut album this year.
Born on 30 November 1988 in Maplewood, New Jersey. He attended Columbia High School, where he was on both the varsity basketball team and the choir. He continued his studies at Northwestern University and graduated with a bachelor’s degree in Communication with a minor in Business in 2010.
A contemporary R&B artist, the singer-songwriter mixes modern R&B with traditional Afrobeat and dancehall, while adding his own smooth sound of global influences. His first EP “Jeep Music Volume 1”, which was released in 2017, generated over 40 million streams with “Want More” (ft. Kranium). But until his debut album “All or Nothing”, which was released in August 2021, fans were musically spoiled over the years with a few mixtapes such as “The Resume”, “While You Wait” or “The Beauty of Becoming”.
The latter EP includes the gold-certified track “In My Bed” feat. whales In April 2020, Rotimi released a six-song acoustic EP called Unplugged Sessions, which enthralled its listeners. At the beginning of the year he released his music video “Love Somebody” which shows a new interpretation of the story of Adam and Eve.
A creative creator at heart, Rotimi’s motto embodies both his attitude and his art: “No Limit.”
Allianz (AGCS) announces key leadership changes

By Favour Nnabugwu

 

Allianz Global Corporate & Specialty (AGCS) has announced that Mike Martin has been appointed as Global Head of Property, effective May 16, 2022.

Within his new role, Martin will report directly to Chief Underwriting Officer Corporate, Shanil Williams. He will also succeed Maria Grace who left AGCS in late 2021, and will be based in AGCS’ Atlanta office.

Martin has over 35 years of experience in international property underwriting, most recently with AIG, where he currently serves as Chief Underwriting Officer – US Retail Property with responsibility for leading the property underwriting transformation strategy and driving technical excellence.

Prior to AIG, he held various insurance industry executive roles at Velocity Risk Underwriters, Liberty Mutual, XL, and Industrial Risk Insurers, including roles in the US, Bermuda, and Switzerland.

In addition, AGCS has also announced the promotion of Srdjan Todorovic as Head of Global Political Violence & Hostile Environment Solutions based in London. The unit is part of AGCS’s Property line of business and provides crisis management solutions to international companies which help them to respond to a number of situations, from terrorism and political violence to hostile environments.

Todorovic succeeds Björn Reußwig who leaves AGCS on July 1 to pursue interests outside of Allianz He joined AGCS in April 2015 as Head of Terrorism, Regional Unit London.

AGCS Board Member and Chief Underwriting Officer Corporate Shanil Williams, commented: “A warm welcome to Mike and congratulations to Srdjan. I’m very pleased to bring Mike into our underwriting leadership team with his international and North American experience, which reflects the diversity of our global portfolio. His combination of technical excellence in underwriting and a strong trading mentality will help us to growth profitably in Property in the years ahead, including in the strategically important North American market.

“Srdjan has established himself as an industry expert in the Political Violence & Terrorism segment and he is exactly the right person to continue to expand our services for clients as we broaden our Property insurance offering, building on Björn’s great work in this area. We all wish Björn well in his future career beyond Allianz

BIBA, Coverdrone launch a new drone insurance scheme

By Favour Nnabugwu

 

 

British Insurance Brokers Association, BIBA and Coverdrone have launched a new member scheme to insure operators of drones, both commercial and recreational.

The new scheme from Coverdrone offers BIBA members full access to their products enabling them to offer niche insurance protection to their customers. The cover is fully compliant with aviation insurance requirements and offers high levels on indemnity and flexible policy periods. It has many features and benefits to meet the needs of both business and personal clients.

Mike Hallam, BIBA’s Head of Technical Services said: “Coverdrone provides a market leading solution for commercial and recreational drone operators, and these covers add another string to the bow of our members helping them find insurance for customers large or small. We are delighted to bring them aboard.”

Coverdrone has extensive knowledge of the drone insurance sector having been the market leader since 2007. Their offering will cater for small or large fleets of drones, including use at light shows and drone swarms.

Andrew Heath, Director at Coverdrone, concluded: “We are delighted to have been chosen to offer our product to BIBA members. We have been BIBA members for many years and have found their scheme facilities vital when securing business. Service standards are at the forefront of our business, and we look forward to building lasting relationships with BIBA and their members.”

Coverdrone will be exhibiting at The BIBA Conference 2022 and their team is looking forward to helping brokers find out more about drone insurance.

 

Former Aviation Minister, Osita Chiodoka leaves Guinea Insurance board

By Favour Nnabugwu

 

 

Former Minister of Aviation, Mr Osita Chidoka, has resigned from the board of Guinea Insurance Plc to concentrate on his private matters.

A statement signed by the company secretary, Ms Chinneye Nwankwo, disclosed that the politician, who was once the Corps Marshal and Chief Executive of the Federal Road Safety Corps (FRSC), served on the board as a non-executive.

During his time on the board, he contributed immensely to the growth of the underwriting company and the team appreciated him for this.

In the notice, Guinea Insurance wished the member of the opposition Peoples Democratic Party (PDP) well in his future endeavours

“Guinea Insurance Plc wishes to inform the Nigerian Exchange Limited (NGX), its esteemed shareholders and the general public of the resignation of Mr Osita Chidoka from the board of directors of the company.

“The resignation of Mr Chidoka is to enable him more time to pursue his private business. The board recognized his immense contributions, selfless service and commitment to the progress of the company and wished him success in his future endeavours,” the disclosure stated.

Nigeria’s NucleusIS launches credit scheme to increase insurance penetration

By Favour Nnabugwu

 

 

Nigerian startup NucleusIS has launched a new platform that allows individuals and businesses to buy health insurance on credit.

Founded in 2019, NucleusIS has built a robust enterprise technology base for health insurance companies and care providers, which has so far on-boarded seven clients. The startup is also leveraging this technology to distribute health insurance via distribution APIs, retail and telco partnerships.

Its credit scheme allows users to access health insurance on a “buy now, pay later” basis, allowing them to receive care while paying over a specific period. It is aimed at accelerating and deepening health insurance penetration in Africa, starting in Nigeria and Ghana.

“NucleusIS will continue to look for ways to use technology and financial initiatives to drive health insurance adoption across the continent,” said head of communication Godwin Awuya.

“The platform is one of the many initiatives the company will be rolling out to make health insurance truly accessible and affordable to the average person.”

VerifyMe Nigeria launches license plate verification API to enable car insurance services

By Favour Nnabugwu

 

 

VerifyMe Nigeria has launched a new service for vehicle license status in real-time, extending its portfolio beyond digital ID verification, biometrics, and consumer analytics.

The new digital plate number verification service checks motor vehicle and ownership data instantly, the company says, to help customers in fintech, insurance, and other service industries onboard end-users with full regulatory compliance more easily. The service is offered as an API to compliment VerifyMe’s digital identity verification services.
The automatic number plate verification service is possible due to the digitization of services by Nigeria’s Federal Road Safety Corps (FRSC), the company says.

“We are enthusiastic about the possibilities Plate Number Verification service offers in opening new opportunities for the insurance sector,” comments VerifyMe Nigeria Co-founder and CEO Esigie Aguele. “This initiative, supported by the Federal Road Safety Corps (FRSC) will ensure trust in the system as the parties in a transaction can confirm the particulars of a vehicle real time and mitigate future issues and delays during claims.”

The API addresses a need for real-time, trusted data within Nigeria’s vehicle and asset verification market, with an estimated 77 percent of automobiles in the country uninsured. Insuring them represents a 50 billion Naira (US$120 million) growth opportunity, according to the announcement.

VerifyMe is among the digital identity verification providers coming together to form a Nigerian industry
association a month ago

 

UK Export Minister, Mike Freer MP, to visit Nigeria soon

By Favour Nnabugwu

 

THE United Kingdom, UK, Minister for Exports and Minister for Equalities, Mike Freer MP, will visit Nigeria soon to tighten up trade and economic ties between the two countries.

The visit is a follow-up of the seventh UK and Nigeria Economic Development Forum which was held in April, 2022 and was hosted by the UK’s Minister of State for Trade Policy, Penny Mordaunt in London.

Minister Freer’s visit to Nigeria will include meetings with government officials and leading business representatives to discuss opportunities for UK Export Finance (UKEF) to help facilitate infrastructure development projects as well as explore the growing commercial opportunities in key sectors, including renewable energy, financial services, manufacturing, technology, security, infrastructure, and the creatives.

During his trip, Minister Freer will visit the Apapa Port, Nigeria’s largest and busiest port, to learn more about the challenges and opportunities to support trade facilitation between the UK and Nigeria.

The visit will also include a meeting and tour of Eko Atlantic, Nigeria’s first Green City, to explore ways in which the UK can help support Nigeria’s transition to clean energy.

While in Lagos, the Minister will visit the UK pavilion at the Securex West Africa Conference, Africa’s largest exhibition for security, fire, and safety industry professionals, where he will meet with leading British business representatives showcasing their innovative cyber security solutions.

Speaking ahead of the visit, Minister Freer said: “I am delighted to be here in Nigeria to strengthen our economic ties and explore ways in which we can stimulate and increase trade between our two nations.

“As Africa’s largest economy, Nigeria has huge commercial opportunities for UK businesses to take hold of. Together with our partners in Nigeria, we want to unlock the full potential of our bilateral partnership to support Nigeria’s growing economy and deliver inclusive prosperity.”

The British Deputy High Commissioner in Lagos, Ben Llewellyn-Jones OBE: “We are pleased to welcome Minister Freer to Nigeria to showcase the growing commercial opportunities available in sectors such as renewable energy and infrastructure.

“Nigeria is a vital trading partner for the UK and we are committed to working more closely together to ensure trade and investments in Nigeria are sustainable and inclusive using the UK’s world-leading innovation and technology.”

Bilateral trade between the UK and Nigeria reached £3.5 billion in the four quarters to the end of Q3 2021, an increase of 1.9%.