NAICOM introduces tech to detect fake insurance policies

Zainab Iwayemi

In its effort to improve the workings of the insurance industry, National Insurance Commission, NAICOM,  Nigeria’s  foremost industry regulator has developed a technology for verifying insurance policies.

Sunday Thomas, the Commissioner for Insurance made this known while receiving the minister of state for transportation, Senator Gbemisola Saraki, in his office in Abuja.

Bemoaning the high insurance ingenuity associated with road the transportation sector, he said the Commission was working to ensure order in the insurance sector particularly to improve the issue of fake insurance in the road transportation sector whilst also stating the commission’s readiness to collaborate with the federal ministry of transportation so as to ensure the provision of adequate insurance for road transport owners as well as users within Nigeria and in ECOWAS member countries.

In this regard, the transportation ministry and NAICOM consented to establish a joint committee that will work towards ensuring a mutually beneficial relationship.

Noting that insurance is a critical aspect of transportation, Saraki pointed out the need to collaborate with NAICOM for successful programmes. “The ministry has embarked upon a transformation programme for the road transportation sector that would have a tremendous impact on the lives and the wellbeing of the Nigerian public,” She said.