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| Daniel |
- Fine-tunes regulatory policies
The National Insurance
Commission (NAICOM) is presently fine-tuning its regulatory policies to
accommodation new distribution channels of insurance products, the Commissioner
for Insurance Fola Daniel, has said.
Deputy Director Inspectorate National Insurance
Commission (NAICOM) Emmanuel Farinu, who spoke on behalf of Daniel, at the
launch of an Insurance online platform - AutoGenius, said the fine-tuning
process will soon be concluded thereby paving ways for introduction of more
robust distribution channels.
“We are pleased to note that
NAICOM has begun the process of fine-tuning some of its regulatory policy
frameworks, aimed among others to increase insurance penetration through
principle based supervision, that when completed, will open up more distribution
channels and other intermediation services for the purpose of insurance market
growth,” he said.
He called on operators to
brace-up and embrace partnerships that will engender developments of new valued
added products.
It would be recalled that new
channels have been introduced in recent times, especially the sales and marketing
of products through telecommunications companies.
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