Naicom urges brokers to expand branch network

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NAICOM Urges Brokers to Expand Branch Network

The National Insurance Commission (NAICOM) has called on insurance brokers to expand their branch network across the country. This is to ensure that insurance services are accessible to all Nigerians, particularly in rural areas.

According to NAICOM's Commissioner for Insurance, Mr. Gbossikom Gwarzo, the expansion of branch network will enable brokers to reach more customers and increase insurance penetration in the country. He also emphasized the need for brokers to invest in technology to improve their operations and customer service.

The Commissioner also highlighted the importance of insurance brokers in the insurance industry, stating that they play a crucial role in promoting insurance awareness and providing insurance services to the public.

In addition, NAICOM has also called on brokers to comply with the commission's regulations and guidelines, including the requirement to maintain a minimum capital base of N20 million.

Overall, the call by NAICOM is aimed at promoting the growth and development of the insurance industry in Nigeria, and ensuring that insurance services are accessible to all Nigerians.