Omosehin calls for customer-centric insurance industry at Insurance Week
Commissioner For Insurance and Chief Executive of National Insurance Commission (NAICOM), Mr Olusegun Omosehin
Nike Popoola
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has called on operators in Nigeria’s insurance industry to prioritise public trust, customer engagement, and innovation as the sector seeks sustainable growth and stronger market penetration.
Speaking at the opening ceremony of Insurance Week 2026 in Lagos today, Omosehin described the annual event as an important platform for industry stakeholders to reflect on progress, address persistent challenges, and strengthen collaboration across the insurance ecosystem.
He stressed that public awareness remains central to the growth of the insurance sector, noting that low understanding of insurance products and processes continues to hinder penetration and public acceptance.
According to him, insurers must move beyond generic communication campaigns and adopt more targeted and relatable strategies that connect with the realities of everyday Nigerians.
“Without awareness, there can be no demand. Without understanding, there can be no trust. And without trust, sustainable growth cannot be achieved,” he said.
The NAICOM boss urged insurance companies to shift from a product-driven model to a customer-focused approach by involving clients in product design and developing solutions tailored to their actual needs.
He also called for simplified insurance documentation and clearer communication around claims processes, which he described as the “moment of truth” in insurance operations.
Omosehin highlighted the significance of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, describing it as a landmark framework aimed at strengthening regulatory oversight, improving corporate governance, and enhancing policyholder protection.
He noted that one of the key features of the new law is the Insurance Policyholders’ Protection Fund, which provides a safety net for policyholders in cases of insurer distress or insolvency.
The commissioner further encouraged operators to embrace technology and innovation to improve efficiency, customer experience, and access to insurance services, while ensuring that issues such as data privacy and cybersecurity remain priorities.
He added that the success of ongoing reforms would depend on collective commitment from regulators, insurers, brokers, agents, and other stakeholders.
Omosehin urged industry players to use Insurance Week 2026 as an opportunity to move beyond discussions and focus on actionable outcomes that would strengthen confidence in Nigeria’s insurance industry and support national development.
