For Greater Efficiency, NAICOM Migrates to Full Digital Services

Effective from 1st September 2021, NAICOM’s operations will transmit from manual to online processing and all operational activities or issues concerning insurance institutions that require the commission’s attention, comment and approval will be submitted and processed via NAICOM Licensing System.

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The National Insurance Commission, NAICOM, has commenced full automation of its services as it migrated to online digital operations. Insurance underwriters are now expected to relate only through digital platforms with NAICOM with effect from September 1, 2021

NAICOM said the move will enhance efficiency and cost-effective service delivery to all stakeholders.

In a circular titled, “Adjustment of NAICOM Operation” signed by its Director, Policy & Regulations, Leonard Akah, and sent to all Managing Directors/Chief Executive Officers of all insurance institutions, NAICOM stated: “To enhance efficient and effective service delivery, the operations of the Commission will go live with effect from Wednesday 1st September 2021.

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“The import of this adjustment is that effective from 1st September 2021, NAICOM’s operations will transmit from manual to online processing and all operational activities or issues concerning insurance institutions that require the commission’s attention, comment and approval will be submitted and processed via NAICOM Licensing System.

“Consequently, all insurance institutions are required 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 authorization; micro-insurance; takaful insurance; letter of request; financial statement approval; enforcement action; governance and complaints issues, etc.”

To this effect,  there shall be no more manual submission of requests/applications, effective from 1st September 2021 except online through the designated portal.

 

 

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