Lagos: The National Insurance Commission (NAICOM) has called on the newly-inaugurated President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe, to lead the insurance industry with a focus on innovation, professionalism, inclusion, and trust. The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Omosehin, delivered this directive during Mrs. Ezeibe’s investiture as the 23rd President of NCRIB in Lagos.
According to News Agency of Nigeria, Omosehin identified education, ethics, and public confidence as essential factors that will shape the future of the industry. He emphasized the need for these elements to be at the forefront of the new NCRIB president’s agenda. ‘Empower professionals through knowledge; uphold integrity and transparency; and build public confidence through consistent performance and fair practices. Perception and performance in insurance are inseparable. Trust grows when our actions meet stakeholders’ expectations,’ Omosehin stated.
Omosehin further urged insurance brokers to adapt to the evolving market environment by adopting client-focused advisory services, data-driven claims management, and digital innovation. He advised brokers to transition from product-driven solutions to roles that prioritize client advisory, expand inclusion through affordable micro-insurance, leverage digital tools to reduce costs, and uphold high ethical standards.
The commissioner reaffirmed NAICOM’s commitment to encouraging innovation, protecting policyholders, and reinforcing public confidence. He mentioned that the Commission would enhance market conduct oversight to ensure transparency, fairness, and value delivery while advocating for digital transformation in the insurance sector. Omosehin highlighted initiatives such as the electronic Know Your Customer (e-KYC), API-enabled placements, and efficient claims portals as part of this digital shift.
He also called for stronger collaboration between NAICOM and the NCRIB in developing broker-led micro-insurance and takaful solutions, which he believes will enhance penetration and financial inclusion. Omosehin noted that Ezeibe’s inauguration as the third female president in the Council’s 63-year history underscores her resilience, excellence, and professionalism, marking a new chapter for the Nigerian insurance brokerage profession.
The outgoing President, Prince Babatunde Oguntade, expressed his gratitude to industry stakeholders for their support during his tenure. He praised NAICOM for fostering an environment conducive to industry growth and for its significant role in facilitating the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 into law.
In her acceptance speech, Mrs. Ezeibe expressed appreciation for the confidence placed in her as the new NCRIB President. She committed to working closely with NAICOM to ensure the effective implementation of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. Ezeibe also assured that her administration would focus on reinforcing the NCRIB’s partnerships with other industry bodies and relevant organizations to promote the growth and credibility of the insurance sector.