The National Insurance Commission has challenged insurance companies to ensure speedy resolution of claims to boost public confidence in the sector.
This was disclosed by the Chairperson, Sub-Publicity Committee of Nigeria’s Insurers Committee, Ebelechukwu Nwachukwu, as the position of NAICOM during a media chat after the Insurers’ Committee Meeting held in Lagos.
At the media briefing, she revealed that “NAICOM will release guidelines on third-party claims to raise public awareness, and that claims from third-party policies will be more visible going forward.”
Quoting the Commission, she said, “For insurers, it should not just be about paying claims but really about the process of claims, making sure it’s less and less painful for the insured.”
Nwachukwu, who is also the Managing Director of Rex Insurance Ltd., stated that the regulator noted this decision would help reduce complaints from policyholders and promote accountability among insurance companies.
Nwachukwu added that the regulator emphasised compliance with Nigeria’s Data Protection Regulations and called for training on data protection.
