The National Insurance Commission has in close sequence expressed its reservation at the response of insurance companies to the directive to ensure effective utilisation of the portal.
The Commissioner for Insurance, Mr. Sunday Thomas driving the importance of the portal to all stakeholders, reminded insurance professionals at the 2021 Professionals Forum in Abeokuta, Ogun State, that response was still at the lower rung of the compliance ladder.
Thomas said the portal was ‘successfully launched’ on 1st September, 2021, but the directive to all operators to integrate, connect and upload five years historical data of all policies issued from 1st January, 2016 to NAICOM portal on or before 1st March, 2021 has not been successfully complied with.
At an earlier event, the CFI expressed concern at the low level of usage by the insurers especially with regard to the upload of new policies.
However, Thomas said the Commission would not be laid back by the reaction of some companies which could be rated as by-standers but firms up, “I want to assure those that are yet to align with the Commission’s portal requirements that the Commission may not wait for ever.”