The Federal Government has urged key players and regulators in the insurance industry to intensify efforts towards improving service delivery to Nigerian policyholders.

Minister of Interior, Dr Olubunmi Tunji-Ojo, made the call while receiving the management team of the National Insurance Commission (NAICOM), led by its Chief Executive Officer (CEO), Mr Ayo Omosehin, during a working visit to his office on Thursday.

Dr Tunji-Ojo advised NAICOM, as the regulator of this critical sector, to encourage insurance companies operating in Nigeria to develop more innovative products for Nigerians.

He added that adopting cutting-edge innovations would stimulate growth in both the national economy and the insurance industry.

According to the Minister, the current management of NAICOM has demonstrated innovation and proactiveness in regulating the sector.

He further noted that these qualities have enhanced stakeholders’ confidence in the industry.

Earlier, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Ayo Omosehin, stated that the purpose of the visit was to explore areas of active collaboration with the Ministry.

Mr Omosehin explained that NAICOM’s effectiveness would be strengthened through access to the national databank, which would assist in verifying the profiles of insurance policyholders.

He also noted that the Commission is intensifying its efforts to sensitise Nigerians on the benefits of insurance.

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