Finance Minister Tasks NAICOM On Proper Use Of Portal
Finance Minister, Mrs. Zainab Shamsuna Ahmed
The Minister of Finance, Budget and Planning, Mrs Zainab Shamsuna Ahmed, has implored the National Insurance Commission (NAICOM) to ensure proper use of its portal.
She made the call at the commissioning of the NAICOM portal in Abuja recently.
The Minister told NAICOM that “the commissioning of the Portal should serve as a springboard for industry-wide adoption of technology and innovation for efficient and effective service delivery, ease of transacting business and customer experience and satisfaction.”
She charged industry operators to use the portal to provide quick turnaround time on their services, grant access to information when required without any inhibitions and maintain effective real-time communication with its customers.
Mrs Ahmed advised the Commission to consider using the portal to increase its revenue generation given the government’s dwindling revenue profile.
“Dwindling Government revenue profile demands that the Commission must look into ways of increasing its revenue through the use of technology and the Portal in particular,” he advised.
She also urged the Commission to ensure the Portal is connected to other government databases like the National Identity Management Commission (NIMC) NIN Database, Nigeria Immigration Service (NIS) Passport Database, Nigeria Integrated Customs Information system, FRSC’s National Vehicle Identification System, the National Vehicle Registry, State Licensing Databases among others in order to provide value-added services to all Insurance Industry stakeholders and enhance revenue generation.
“In addition, the NAICOM Portal must also serve as the central database and sole repository of all Insurance Data connected to government databases in the country.
She charged the Commission to put adequate measures in place to ensure insurance companies meet their obligations to policyholders just as she described prompt claim payment as the best advertisement for the industry.
“…you will agree with me that the unsatisfactory response to the settlement of claims by underwriters had greatly contributed to the prevailing poor public perception and lack of trust and confidence in the insurance industry.
“Indeed, prompt claims payment is the best advertisement for the industry, therefore all genuine claims that have been duly verified and due process followed should be paid promptly. The Commission must put in place mechanisms to ensure Insurance companies meet their obligations to policyholders by paying claims promptly as that is the major reason they exist in the first place. Claims payment determines the valuable structure of the industry in the economy,” Mrs. Ahmed stated.
