Get Guardian on GoogleThe Nigerian Insurers Association (NIA) has called for stronger technical contributions and coordinated policy advocacy by industry operators to influence regulatory decisions, address emerging risks and improve the insurance industry’s capacity to support the economy.
The association’s Chairman, Ebelechukwu Nwachukwu, made the call while urging the technical committees to develop more proactive recommendations on regulatory policies, market conduct and other issues affecting the industry.
Speaking at a breakfast meeting with committee chairmen and secretaries in Lagos, Nwachukwu said the industry could no longer afford to respond passively to policy changes and developments capable of affecting its operations.
She said the committees, which draw expertise from different areas of insurance practice, had a critical responsibility to provide evidence-based advice to the NIA Governing Council and strengthen the association’s capacity to influence industry policies.
The call comes as Nigeria’s insurance market undergoes significant changes following the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, particularly the recapitalisation exercise, evolving regulatory requirements and the need to improve underwriting discipline, claims settlement and public confidence.
For operators, stronger technical coordination is becoming increasingly important as they navigate higher capital requirements, emerging risks, technological changes and pressure to expand insurance penetration in an economy where coverage remains relatively low.
Nwachukwu said the technical committees must demonstrate greater commitment, innovation and responsiveness, noting that their recommendations provided an important basis for decisions by the Governing Council on regulatory engagement, market conduct guidelines and other critical industry issues.
She added that the NIA must become more influential in advancing the collective interests of insurers, stressing that its committees should lead engagements, develop practical solutions and provide strategic recommendations capable of strengthening the market.
The chairman also emphasised the need for collaboration, knowledge-sharing and timely responses to emerging developments, urging committee members to deploy their collective expertise to address regulatory challenges and identify opportunities for sustainable growth.
She said the effectiveness of the committees would influence the association’s ability to champion reforms, strengthen stakeholder confidence and contribute to national economic development.
NIA Director-General, Bola Odukale, acknowledged the committees’ contributions and pledged the secretariat’s support towards improving their coordination and effectiveness.
She said the association would strengthen communication channels, improve collaboration and ensure technical recommendations receive timely attention to translate into measurable outcomes.
The committees represented at the meeting cover key areas of insurance operations and administration, including claims management, accounting, legal affairs, reinsurance, life and non-life insurance, marine, energy and special risks, agriculture, microinsurance, motor, information technology, human capital, corporate affairs, audit and compliance.
