NAICOM takes action to protect government assets from unlicensed brokers and agents

Post AMUGEDecember 5, 2023

Cynthia Ezekwe In a bold move to facilitate ethical pratices in the insurance industry and to protect government assets and liabilities from being exposed to risk, the National Insurance Commission (NAICOM) has issued a stern warning to all Ministries, Departments, and Agencies (MDAs) to refrain from engaging the services of unlicensed brokers, agents, and insurance […]

Heirs Insurance chairman,Elumelu advocates insuring builldings to mitigate financial risks

October 24, 2023

Cynthia Ezekwe    Tony Elumelu, Chairman of Heirs Insurance Group, has urged the general public to take out building insurance policies in order to mitigate the financial risks associated with building collapses in Nigeria. Elumelu’s remarks were made during his keynote address at the 2023 National Insurance Conference organized by the National Insurance Commission (NAICOM), […]

Generative AI holds key to future of insurance innovation

October 16, 2023

By Cynthia Ezekwe. The potential of generative AI to revolutionize the insurance industry is immense. By harnessing its ability to create new data based on existing data, insurance companies could speed up the process of pricing policies and processing claims, and even develop new products to better meet customer needs. Generative AI is a branch […]

Heirs Insurance Group revolutionizes insurance with digital experience centre

October 9, 2023

Heirs Insurance, Heirs Life Assurance partner UBA on bancassurance

  By Cynthia Ezekwe.   As part of its mission to simplify access to insurance and make it more accessible to all, Heirs Insurance Group, the insurance arm of Heirs Holdings, the leading pan-African investment company, has launched the Heirs Insurance Experience Centre. This first-of-its-kind digital insurance centre in Nigeria is located on the ground […]

Balancing risks and benefits of digital transformation in insurance underwriting

October 9, 2023

By Cynthia Ezekwe. Recent advancements in technology, such as artificial intelligence and machine learning, have fueled growth in the global insurance sector by improving efficiency, enhancing service delivery, and expanding the market. Insurance companies are now using these technologies to better understand and meet the needs of their customers, process claims more quickly, and identify […]

Insurance experts push for improved transparency in claim payment process

October 9, 2023

Old Mutual pushes insurance-backed savings amid economic uncertainties

Cynthia Ezekwe  Consumers often have a negative perception of insurance companies, believing that they are slow to pay claims or even that they never pay them at all. This perception has developed over time due to bad experiences or negative stories heard from others. One of the most common negative notions held by consumers  is […]

AIICO Insurance canvasses digital sales to boost insurance penetration

October 4, 2023

By Cynthia Ezekwe.   AIICO Insurance Plc has advocated increased digital sales of insurance products and services to boost insurance penetration in Africa’s largest economy.   The insurance, pensions management, and asset management group noted that Nigeria has an insurance penetration rate of 0.5 per cent, an abysmal performance, given the population of over 200 […]

Reps move to investigate N15trn pension fund assets

Isaac JayeolaOctober 4, 2023

Business A.M The House of Representatives has resolved to initiate an inquiry into the state of pension funds, amounting to over N15.5 trillion and to recover the N10 trillion loaned to the federal government from the pension fund to avert a collapse of the pension scheme. The development is a result of an unanimous adoption […]