Its a new dawn for insurance agents. Streaming from the unending new approach of regulation in the National Insurance Commission is a new form of recognition of the pedestal of agents in the insurance industry powered by the regulator, NAICOM.
The new height the Commission has created for agents is exemplified by the adopted approach for the renewal of insurance agents licence to stay in business. NAICOM is bringing the agents closer through its binoculars and this is a rarer and outstanding way to gauge the penetration of insurance in the country. The Commission is moving away from regulator aloofness and squarely putting its hand on the rudder of regulation. Consequently, NAICOM is informing all registered Agents and Insurance Companies that a new licensing Portal for registration and renewal of the licences of insurance Agents has been developed.
The new portal according to NAICOM statement, will ease, fast track and streamline licencing of Insurance Agents and will reduce manual intervention in the issuance of Agency licensing process.
Consequently, all applications for registration and renewal of Agency license shall hence forth be submitted using https://agent.naicom.gov.ng on the new Portal effective 1st August 2024.
The Commission made it clear that all pending applications that have not been registered on the old portal should be resubmitted through the new licensing Agents portal. To save the agents and insurers from unforeseen drawbacks the Commission said all registered Agents and Insurance Companies are expected to note the and be guided accordingly.
