L-R: Ekerete Ola Gam-Ikon, deputy commissioner, Finance and Administration, NAICOM; Edwin Okoro, MD/CEO, Netapps Technologies; Olusegun Ayo Omosehin, commissioner for Insurance, NAICOM; Usman Jankara, deputy Commissioner, Technical, NAICOM during the licence presentation at the Commissions’ headquarters in Abuja
The National Insurance Commission (NAICOM) has officially granted a Partnering Insurtech licence to NETAPPS, reinforcing the Commission’s commitment to leveraging digital innovation to deepen insurance penetration and expand access across Nigeria.
Speaking at the event, Olusegun Ayo Omosehin, commissioner for Insurance highlighted NAICOM’s strategic priorities, which include consumer protection, strengthened regulatory capacity, financial soundness, innovation and sustainability, and broader access to insurance services. He emphasized that insurtech firms play a critical role within the Commission’s innovation and access agenda.
The Commissioner noted that adopting technology-driven solutions and alternative distribution channels is essential to addressing Nigeria’s persistently low insurance penetration rate. He underscored the potential of digital platforms to reach underserved populations particularly young people who primarily engage through mobile devices and to make insurance more accessible, affordable, and inclusive. Related News Lionel Messi rewrites World Cup record books Pivot Integrated Energy taps Pathway Advisors for N300bn commercial paper Hugo Broos backs African nation to win the FIFA World Cup
