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NAICOM unveils strategic plans to boost public confidence



By Ginika Okoye / Rukayat Adeyemi

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The National Insurance Commission (NAICOM) has unveiled its 2021-2023 strategic plans for efficient service delivery, protection of trust and confidence in the industry.

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The head of NAICOM, Department of Corporate Strategy and Special Tasks, Mr. Usman Jankara, announced the plan at a conference at the annual seminar for insurance journalists in Lagos on Friday.

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The theme of the 2021 seminar was “NAICOM Corporate Strategic Plan 2021-2023: Goals, Objectives and Key Deliverables”.

Jankara explained that the strategic plan was built around five objectives, including establishing effective and efficient service delivery, ensuring a safe, healthy and stable insurance industry.

Other objectives are to adequately protect policyholders and the public interest, to improve confidence in the insurance industry, to encourage innovation and to promote the development of the insurance market.

According to him, the objectives will consolidate the 2016-2020 strategic plan with new milestones required to allow the commission to accomplish its mission.

Jankara noted that some of the commission’s 2016-2020 strategic plans had not been met due to the current COVID-19 pandemic, among other factors.

“Our strategic plan has simplified what we are going to focus on and we are now more confident that we will do much better this year.

“We want to have a stable insurance industry to be globally competitive and contribute to the country’s economy,” he said.

Jankara said the plan would also ensure policyholder complaints are dealt with better and faster.

Mr. Abiodun Aribike, head of the information technology department of NAICOM, said the commission has upgraded its portal to eradicate bogus insurance and deepen insurance penetration.

Aribike added that the commission will continue to upgrade its technology to meet the global industry trend. (NAA)


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