NAICOM commences online operations

The National Insurance Commission, NAICOM, has commenced online live operations of its activities.

In a circular titled, “Adjustment of NAICOM Operation” signed by its Director, Policy & Regulations, Leonard Akah, and sent to all Managing Directors/Chief Executive Officers of all insurance institutions, NAICOM stated: “To enhance efficient and effective service delivery, the operations of the Commission will go live with effect from Wednesday 1st September 2023.

“The import of this adjustment is that effective from 1st September 2023, NAICOM’s operations will transmit from manual to online processing and all operational activities or issues concerning insurance institutions that require the commission’s attention, comment and approval will be submitted and processed via NAICOM Licensing System.

“Consequently, all insurance institutions are required to align their operations to NAICOM Portal for submission and processing of all requests such as certificate of registration/renewal; approval -In-Principle (AIP); product authorization; micro insurance; takaful insurance; letter of request; financial statement approval; enforcement action; governance and complaints issues, etc.”

NAICOM also said that there shall be no more manual submission of requests/application, effective from 1st September 2023 except online through designated portal.