NAICOM promotes insurance culture
NAICOM
Nike Popoola
The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, has called for a deliberate and sustained effort to promote insurance culture among Nigerians, emphasizing that true industry growth must go beyond penetration statistics to drive cultural adoption.
He made this known in Lagos according to his speech with the theme, “Resilience and Growth in Uncertainty: Charting the Path for Nigeria’s Insurance Industry,”released by the commission on Wednesday.
Mr. Omosehin underscored the need for collective commitment to deepen insurance understanding and trust among citizens.
“True penetration goes beyond numbers—it is about cultural adoption,” he stated. “We must educate and engage the public, demonstrating how insurance is not a burden but a pathway to stability and a safety net for the future.”
The Commissioner highlighted the vital role of insurance in building national resilience amidst global and domestic uncertainties, including geopolitical tensions, climate challenges, and technological disruption.
Reflecting on the strides made by the National Insurance Commission (NAICOM), Mr. Omosehin noted ongoing efforts to strengthen compulsory insurance enforcement and expand reach through partnerships with key government institutions such as the Federal Road Safety Corps (FRSC), Nigerian Police Force (NPF), and the Federal Fire Service. These efforts, he said, are already yielding improved compliance and a broader safety net for Nigerians.
He called on stakeholders to align with NAICOM’s vision through three core action points: leveraging innovation to drive inclusion, reinforcing regulatory and data infrastructure, and most importantly, embedding insurance within the social consciousness of the people.
“Let us work together to build a future where every Nigerian, regardless of status or location, can confidently say: ‘I am covered.’”
Mr. Omosehin concluded by urging all industry players to continue collaborating toward a robust, inclusive, and resilient insurance sector capable of withstanding future uncertainties.
