csrreporters 
The National Insurance Commission (NAICOM) has partnered with the FinTech Association of Nigeria to accelerate digital transformation in the insurance sector, a move expected to deepen financial inclusion, rebuild public trust, and expand the role of insurance in Nigeria’s economic growth.
At a strategic meeting in Abuja, the Commissioner for Insurance, Olusegun Omosehin, and Segun Aina, President of the Africa FinTech Network, outlined a joint vision to reshape the insurance landscape through technology-driven solutions, collaboration, and strong regulatory oversight.
NAICOM reaffirmed its commitment to transparent, digital-first insurance practices that protect policyholders and position the sector as a driver of long-term economic stability. Omosehin stressed that digital adoption was not just a regulatory goal but a pathway to aligning Nigeria’s insurance sector with global best practices, improving efficiency, and expanding coverage.
In support, the FinTech Association pledged to leverage innovation and partnerships to help modernize the insurance ecosystem, increase accessibility, and strengthen market confidence. Both parties agreed to sustain engagement and collaboration under the new administration to achieve policy objectives.
As part of its reform agenda, NAICOM also issued new guidelines for insurtech operations effective August 1, 2025, clearly defining permissible and prohibited activities. The rules prohibit practices such as:
Reliance on AI to decline claims without human oversight.
Crypto-based premium or claims transactions without prior approval.
Dark pattern designs that mislead users into purchases.
Cross-border sales without authorization.
Insurance of sensitive sectors like oil & gas, marine, aviation, retirement annuity, and government assets without clearance.
The guidelines, while restrictive in some areas, are designed to protect consumers, foster responsible innovation, and ensure digital platforms operate within a transparent, sustainable framework that supports economic resilience