The incoming Chairman of the Nigerian Insurers Association (NIA), Mrs Ebelechukwu Nwachukwu, has unveiled a strategic blueprint anchored on collaboration, trust and regulatory compliance.
Mrs Nwachukwu, who is the Managing Director/CEO of Rex Insurance, will be formally invested as the 27th Chairman of the Association on 3 July 2026, reported inspenonline.com.
She assumes office at a time of profound structural shifts driven by the Nigeria Insurance Industry Reform Act (NIIRA) 2025, which was signed into law last year. The legislative reform introduces a modern framework built on risk-based capital and significantly enhanced minimum capital requirements.
To ensure the new Act translates into tangible benefits for operators and the public, Mrs Nwachukwu outlined three areas that the NIA would focus on, namely:
Deepening insurance penetration via strategic alliances
- Actively pursue alliances with banks, FinTechs, microfinance institutions, and non-financial retail platforms to bridge access gaps. Promote digital distribution channels to reach millions of unserved Nigerians and micro-businesses.
Rebuilding public trust through simplification
- Demystify insurance by rolling out massive educational and enforcement initiatives across both private and public sectors, eliminating jargon, simplifying claims processing, and clarifying policy language so ordinary citizens can easily grasp what insurance offers.
Advocating pro-growth regulation
- Provide technical input, identify operational bottlenecks and advocate for pro-growth regulatory policies.
To read the original text, please click on this link.