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- To restructure broking, agency business
Chuks Udo Okonta
The National Insurance
Commission (NAICOM) is working out means of leveraging outlets such as vehicle shops;
fuel filling stations; malls as channels for distribution of insurance products.
The Commissioner for
Insurance Fola Daniel disclosed this at the just concluded 2015 Seminar for Insurance Correspondents, with the theme: Transforming the
Nigeria Insurance Sector; the Three Years Agenda, held in Benin City, Edo
State.
He noted that the decision is part of the present initiative of the
government to transform the industry. He added that the commission will issue guidelines
on how the intermediaries would help take insurance to the unreached and make
insurance products easily accessible for the public.
He said the insurance transformation initiative is
expected to translate into enforcement of public insurance; delivering more
job/skill; building consumers trust and awareness and increasing access to
insurance
Daniel noted that
the industry would also through the initiative create more jobs in line with
the federal government’s desire to improve the level of employment in the
country.
Director
Inspectorate, Thompson Barineka, who showed the intermediaries would operate,
said the broking sector would be structured into individual brokers; universal
brokers and partnership brokers.
He noted also that the
agency would be structured into individual agents; corporate agents; insurance
agents; microinsurance agents; web aggregators and referrals.
It would be recalled
that the Coordinating Minister for the Economy, Dr.
Ngozi Okonjo-Iweala, at the insurance summit held last year said the insurance
industry is a powerful engine for job creation in the country saying that
government’s target is to grow the number of direct employment to 100,000 in
the three years from its present 10,000.
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