Ahmed wants new insurance portal used to address falling government revenues

BY ANITA OKORO

Worried by Nigeria’s current financial challenges, the National Insurance Commission (NAICOM) has been tasked to use technology and its newly commissioned portal to quickly address the government’s declining revenue profile across the board. Zainab Ahmed, minister of finance, budget and national planning, made the call at the commissioning of the new NAICOM portal in Abuja.

Ahmed called on the country’s insurance operators to use the portal launched by the National Insurance Commission (NAICOM) to supply immediate and improved communication services to their customers while urging the insurers to operate the portal and support successful real-time connection with their clientele.

She also called on the insurance industry regulator to take advantage of the portal to increase its revenue generation given the government’s dwindling revenue profile, noting that the portal will serve as the central database and sole repository of all insurance data connected to government databases in the country.

“Dwindling Government revenue profile demands that the Commission must look into ways of increasing its revenue through the use of technology and the Portal in particular,” Ahmed said.

She told NAICOM that the commissioning of the portal should serve as a catalyst for industry-wide adoption of effort and transformation for businesslike and effective work delivery, liberality of performing duties and complaints laying and ensuring customers’ satisfaction.

She further admonished the Commission to ensure that the portal was connected to different government authorities’ databases similar to the National Identity Management Commission (NIMC) NIN Database, Nigeria Immigration Service (NIS) Passport Database, Nigeria Integrated Customs Information System, FRSC’s National Vehicle Identification System, the National Vehicle Registry, State Licensing Databases, among others, in order to successfully make available the value-added services to all insurance industry stakeholders and heighten revenue generation.

Meanwhile, Sunday Olorundare Thomas, the commissioner for insurance, in his address, said that the portal was one of the resourcefulness of the Commission being pursued to deepen the insurance marketplace and grow the penetration of insurance to the level that is accordant with the nation’s economic growth.