The insurance is set for faster regulatory approvals and improved service delivery as the National Insurance Commission (NAICOM) and the Presidential Enabling Business Environment Council (PEBEC) deepen collaboration to eliminate bottlenecks and enhance efficiency across the sector.

The reform, driven under the Business Environment Enhancement Programme Accelerator (BEEPA) is expected to strengthen investor confidence, accelerate licensing and product approvals and support ongoing industry recapitalisation and market expansion.

PEBEC delegation leader, Aimeya Okpebholo, said the initiative is designed to deliver measurable improvements in regulatory service delivery by improving coordination among ministries, departments and agencies (MDAs) and ensuring transparency in compliance processes.

According to her, BEEPA is structured as a 90-day accelerator programme running from January 26 to April 26, bringing together selected MDAs to deliver client-focused and measurable improvements in service delivery.
“BEEPA is designed to ensure that regulatory compliance moves beyond paper to produce real, practical improvements at service points for both businesses and citizens.

“By clarifying institutional roles, strengthening inter-agency coordination and introducing evidence-based validation, we are working to reduce delays, eliminate inefficiencies and enhance transparency,” she said.

Commissioner for Insurance, Olusegun Omosehin, welcomed the PEBEC delegation and reaffirmed NAICOM’s commitment to regulatory excellence and service efficiency, noting that ongoing reforms within the commission are aligned with the programme’s objectives.

He said the insurance sector plays a critical role in economic stability and long-term risk protection, stressing that strengthening regulatory responsiveness would enable operators to serve policyholders more effectively.