By Sola Alabadan
The Commissioner for Insurance and Chief Executive of the National Insurance Commission (NAICOM), Olusegun Omosehin has charged Nigerian insurance operators to strive for an insurance sector that is inclusive, innovative, and globally competitive.
Omosehin made this call at the 2026 Insurance Week in Lagos, saying that the event provides the practitioners with a unique opportunity to assess their progress, confront persisting challenges, and, renew their collective commitment to building a resilient, inclusive, and trusted insurance ecosystem.
As last year’s Insurance Week emphasised the urgent need to deepen public engagement and strengthen trust in insurance, he stressed that the message remains as relevant today as ever.
He said “Indeed, given the increasing complexity of today’s economic and risk environment, the need to bring insurance closer to the people has become even more compelling.”
NAICOM, he stated, regard public awareness not as a peripheral activity but as a core strategic priority, in realisation of the fact that the success of insurance in any economy is fundamentally anchored on the level of public understanding, trust, and acceptance.
“Without awareness, there can be no demand. Without understanding, there can be no trust. And without trust, sustainable growth cannot be achieved,” he emphasised.
He advised the insurance operators to rethink and reposition their communication strategies, saying that public awareness campaigns must move beyond generic messaging and evolve into more targeted, relatable, and sustained initiatives.
He added that “We must communicate in languages people understand, through platforms they trust, and using real-life scenarios that resonate with their everyday experiences.
“It is not enough for people to simply know that insurance exists—they must understand how it works, why it matters, and how it can protect their lives, assets, and aspirations.”
Omosehin further said that “Insurers must deliberately transition from a product-centric approach to a customer-centric model. This entails actively involving clients in the product development process seeking their input, understanding their expectations, and designing solutions that align with their real-life needs.
“When clients are actively engaged in product design, several positive outcomes emerge. Products become more relevant and accessible, pricing structures have become more acceptable, and, most importantly, trust and ownership are significantly enhanced.”
He added that there is a critical need to simplify insurance documentation and communication, pointing out that insurance must not be perceived as opaque or overly complicated, but it must be transparent, straightforward, and easy to navigate.
“Equally important is the need to improve policyholders’ understanding of claims processes.
“Insurers must therefore ensure that policyholders are well-informed about claims procedures from documentation requirements to timelines and expectations. Delays, ambiguities, or perceived unfairness in claims settlement not only erode trust but also weaken confidence in the entire system” Omosehin said.
Speaking on the role of technology in driving transformation within the insurance sector, the NAICOM boss stated that technology must be deployed responsibly, and it must enhance trust, not undermine it.
He maintained that the issues of data privacy, cybersecurity, and ethical responsibility must remain central to insurers’ digital transformation agenda.
He equally tasked the insurance operators to ensure that innovation is inclusive, stating that the rural communities, informal sector participants, and vulnerable groups must not be excluded from the benefits of technological advancement.
