NAICOM urges insurance firms to prioritize consumer-focused approach in operations

The National Insurance Commission, NAICOM, is urging insurers to shift their focus from a product-centric approach to a customer-centric model, according to Commissioner for Insurance, Mr. Olusegun Ayo Omosehin.

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Mr. Omosehin emphasized that a customer-centric model involves actively seeking clients' input, understanding their expectations, and designing solutions that cater to their real-life needs during the product development process.

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This approach makes products more relevant and accessible, with pricing structures becoming more acceptable, and trust and ownership significantly enhanced, as noted by Mr. Omosehin.

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The Insurance Week 2026, where Mr. Omosehin made these remarks, has become a vital platform for engagement, reflection, and constructive feedback within Nigeria's insurance industry over the years.

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Mr. Omosehin views Insurance Week as more than just a ceremonial occasion, but rather an opportunity for the industry to engage closely with the market, listen to customers' voices, and foster stronger relationships with stakeholders.

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The event's array of activities demonstrates the industry's intent to engage more closely with the market and renew its commitment to building a resilient, inclusive, and trusted insurance ecosystem, according to Mr. Omosehin.

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At NAICOM, public awareness is considered a core strategic priority, rather than a peripheral activity, as the success of insurance in any economy relies on the level of public understanding, trust, and acceptance, as stated by Mr. Omosehin.