The National Insurance Commission (NAICOM) has enjoined insurance operators to ensure that they ignite a nationwide conversation about the power of insurance as the inaugural edition of Insurance Week holds across the country.
The Commissioner for Insurance and Chief Executive of NAICOM, Olusegun Omosehin who spoke in Lagos on Monday, affirmed that the Insurance Week is designed to raise national awareness about the vital role of insurance in Nigeria’s growth and development.
To truly secure Nigeria’s future, he pointed out that “we must educate the public on the benefits of insurance, develop products that meet the needs of all Nigerians, wnsure prompt and transparent claims processing, as well as invest in talent and technology to drive innovation and trust.
At NAICOM, he said the regulatory body is committed to building a strong, inclusive, and globally respected insurance industry, and has been driving reforms to strengthen consumer protection, promote digital innovation, ensure capital adequacy and sound governance, while expanding access to underserved communities.
On why insurance matters, he stated that “In today’s fast-changing world, risks are everywhere—economic shocks, natural disasters, health crises, and more” adding that these uncertainties can disrupt lives and derail national progress.
“Insurance is our shield. It helps individuals, businesses, and governments manage these risks, recover from losses, and build resilience.
Without insurance, your economy would be more vulnerable, and our people less secure. That’s why this year’s theme, “Insurance for All: Securing Nigeria’s Future,” is both timely and essential” he emphasised.
Omosehin maintained that “The future of Nigeria depends on how well we manage risk. Every decision—whether by individuals, businesses, or government—carries uncertainty. Insurance provides the tools to navigate these uncertainties and protect our collective future.”
The NAICOM boss further urged the nsurance operators to renew their commitment to building an industry that serves the people and supports national development and use every platform—media, schools, communities, and workplaces—to spread the message that insurance is not a luxury; but a necessity.