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Insurance database will eliminate fake products

by Business News Report

Chairman of Nigerian Insurers Association (NIA) Mr Ladipo Ajayi has that the proposed Nigerian Insurance Industry Database (NIID) would help to eliminate cases of fake insurance products. He said the association was taking necessary measures to ensure that relevant data were collated to meet the expectations of all stakeholders. The chairman said that the NIA was collating the data from its members and other relevant stakeholders which would be uploaded into the database.
It will be recalled that the National Insurance Commission (NAICOM) had directed the association to check the incidence of fake insurance products, especially the motor insurance policy. Ajayi said that the NIID was designed to ensure zero tolerance for fake insurance policies.

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