Commissioner for Insurance Tasks Insurers on Developing Products for the People, National Development

By LOVETH AZODO,  Lagos

…Ilori Makes Case for Insurance Practitioners, Calls for Enabling Environment

The Commissioner for Insurance Olusegun Omosehin and CEO of the National Insurance Commission (NAICOM), Olusegun Omosehin  has urged insurers to make use of every platform at their disposal to preach that insurance is not a luxury but a necessity.

He also emphasized the need for commitment to building an industry that serves the people and supports national development.

This comes as the President of the Chartered Insurance Institute of Nigeria, Yetunde Ilori called for the support of the Chairman of the House Committee on Insurance and Actuarial Matters, Hon. Ahmadu Usman Jaha, to ensure seamless and thriving insurance operations in Nigeria.

Omosehin made these remarks at the opening ceremony of the maiden edition of Insurance Week held today in Lagos, with the theme “Insurance for All: Securing Nigeria’s Future.”

The NAICOM boss stressed that it is non-negotiable for insurance practitioners to Educate the public on the benefits of insurance, Develop products that meet the needs of all Nigerians—urban and rural, formal and informal, Ensure prompt and transparent claims processing, and Invest in talent and technology to drive innovation and trust.

Speaking on the significance of the event, he said “This week is not just a celebration—it’s a call to action.”

“We must ignite a nationwide conversation about the power of insurance. From Lagos to Abuja, Port Harcourt to Kano, we are seeing growing interest and participation in insurance awareness campaigns. This momentum must continue.”

While giving her welcome address, the President of the Chartered Insurance Institute of Nigeria appreciated the Executive and Legislative arms of government for their consistent support of the industry.

“We count on your continued partnership in providing an enabling regulatory and legislative framework that fosters industry growth, consumer protection, and sustainable development,” she said.

Yetunde Ilori also made a case for insurance practitioners to receive more support from all arms of government.

She added “We need an enabling environment. They need to allow us do our business. They need to support us. Let them show mercy and allow the operators to do their job.”

Speaking on the vision behind the event, she explained that bringing the idea of Insurance Week to life was akin to connecting strategic dots dispersed across various touchpoints in the insurance ecosystem.

“The journey began with a family conversation, then a meeting with two vibrant ladies to whom I shared my vision. In just a few weeks, they returned with a comprehensive framework that has now crystallized into the programme we are celebrating this week,” she said.