The National Insurance Commission has admonished operators that are yet to integrate their operations with the NAICOM portal to switch to the portal or choose to disconnect themselves out of business by own action.
The Commissioner for Insurance Sunday Thomas (pictured), who spoke to insurance directors recently in Lagos, said the Commission had since directed all operators to integrate their operations with the portal.
Reminding the directors that the Commission had successfully launched the NAICOM portal on 1st September, 2021 to ensure effective interface between the commission and stakeholders, he said the next phase is for operators to deploy a handshake with the portal. Therefore, he puts the compliant ball in their court explaining that inaction has a prize. “It is imperative to inform you here that any company that is lagging behind in this regard is inadvertently phasing itself out of business.”
Reiterating the need for action, Thomas says, “Your respective attitude towards information technology funding in your various companies will go a long way in determining the longevity and existence of not only the companies, but the retention of the brand names or corporate identities. This is food for for thought.”
To advance the need for companies to embrace IT infrastructure, NAICOM boss addressed the gathering virtual, a reminder that organisations need to constantly retool business strategies, reinforcing the virtual address with the conference theme, “Insurance Industry in a Changing World.”
Earlier in the speech he admonished the directors to align with the current phase of positive thinking minds, pointing out that “While it has not been difficult for some companies to adapt to the new world order, a lot of other companies have been struggling to cope.”