Google, three telecoms companies set to boost insurance penetration

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By Favour Nnabugwu
Google and three telecommunication companies have partnered   to deepen insurance penetration leveraging Information and Communications Technology (ICT) tools to boost insurance growth. The Managing Director of MTN Nigeria Communication Limited, Mr. Ferdi Moolman will address a large number of participants on “The Imperatives of Adequate Internet Connectivity in a Modern Insurance Sector” alongside the Managing Director of VDT communications, Biodun Omoniyi, while the Country Manager, Google Nigeria, Mrs Juliet Ehimuan-Chiazor will speak on the “Expectations of Insurance Consumers in the Information Age”.

Managing Director of MainOne, Funke Opeke will be speaking on “The Importance of Local data Hosting and Use of Nigeria’s  Top Level Domain Names in the Insurance Industry”, while  the Managing Director, VODACOM Nigeria, Lanre Kolade, will speak on the same subject.

The operators have an E-Insurance Conference theme: “Driving Insurance Penetration with Information and Communication Technologies, coming on the third week of this month in Lagos.

The organisers of the Conference, Pinet Informatics, noted that speakers from Google, MTN, MainOne, Airtel, VDT with leading key experts from both Insurance and ICT industries will brainstorm on how to use technology to drive the Insurance penetration in the Nigeria.

Managing Director of Pinet Informatics, Engineer Lanre Ajayi, disclosed that from the Insurance industry, President, Chartered Insurance Institute of Nigeria (CIIN), Lady Isioma Chukwuma will be chairing a panel discussion on “Ensuring curriculum compliance with modern trends in Technology.”

Notable experts on the panel are the Director General, Nigeria Insurers Association (NIA), Sunday Thomas, Former Chairman, Education Committee of the CIIN and former President of CIIN, Bola Temowo, Director-General CIIN, Richard Olutayo Borokini and Prof Ade Ibiwoye, Head of Department, Actuarial Science and Insurance, UNILAG.

Ajayi added that Managing Directors of Insurance companies, which include: Segun Omosehin of Mutual Benefits Assurance Plc, Oye Hassan Odukale, Leadway Assurance Company Limited, Mrs Adeyinka Adekoya, WAPIC Insurance and Kola Adedeji, Niger Insurance Limited will speak on a panel chaired by the Chairman of Nigeria Insurers Association, Eddie Efekoha with  sub-theme “Driving Insurance Underwriting Processes with ICT”.

He revealed that keynote address during the one day event, will be delivered by Executive Vice Chairman, Nigeria Communications Commission (NCC), Prof Umar Garba Danbatta, Director General, National InformationTechnology Development Agency (NITDA), Dr. Isa Ali Ibrahim Pantami, Commissioner for Insurance, National Insurance Commission (NAICOM), Alhaji Mohammad Kari and the Minister of Communications, Barrister Adebayo Shittu.

However, the National Insurance Commission (NAICOM) and the Nigerian Communications Commission (NCC) have agreed to reinstate the sales of insurance through platforms of telecommunications firms.

The agreement, which has paved way for licensing of telcos as distribution channels, was reached yesterday when the Commissioner for Insurance, Mr. Mohammed Kari, led the management of NAICOM to the Headquarters of the NCC in Abuja.

The Head, Corporate Affairs NAICOM, Rasaaq Salami, told Inspenonline that the team from NAICOM were received by the Executive Vice Chairman [EVC] and Chief Executive of NCC, Prof. Umar Garba Danbatta, stressing that the NCC at the meeting endorsed the collaboration between insurance firms and telcos in the sales of insurance products.

Salami noted that the NCC boss maintained that he has no objection to registration of telecommunications firms as distribution channels provided their operations do not negate stipulated rules.

He said part of the resolutions reached at the meeting was for NAICOM to develop and send the mode of operations to the management for the NCC for necessary input.

According to him, the guidelines which had already been developed, together with the Memorandum of Understanding will be sent to the NCC before Friday this week.

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