Naicom, the National Insurance Commission, declared that it was ready to promote the development of products and business models that would meet the group's needs financially excluded. Sunday Thomas, insurance commissioner, revealed this at a recent seminar for insurance journalists in Lagos.

“The future of the Nigerian insurance sector in a changing landscape”. This is the theme of the conference during which the Insurance Commissioner informed that the Commission promotes the development of products and business models that meet the needs of the financially excluded group while ensuring the automation of the Commission's processes. He focused on the actuarial capacity development program and the risk-based supervision regime.

According to the head of NAICOM, the Commission was encouraged to believe in a new dawn in all facets of regulatory policy, taking advantage of innovations technological and in a positive paradigm shift that is targeted and ready to respond to the anticipated increase in the demand side of the economy. For his part, Thomas stressed that the Commission was engaging stakeholders, including state governments, to ensure the domestication of laws and to ensure compliance with mandatory insurance and to improve insurance activities in their respective states.