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By Ngozi Onyeakusi– The National Insurance Commission (NAICOM) has assured that its Strategic plans 2021 to 2023 will promote trust and confidence in the insurance industry.
The Head, Strategy and Special Duties, National Insurance Commission (NAICOM), Mr Usman Ibrahim Jankara gave the assurance while presenting a paper titled, ‘ Corporate Strategy of the Commission 2021- 2023: Goals, Objectives and Deliverables ‘ at the on going NAICOM Seminar for journalists in Lagos.
The project according to him is targeted at producing safe, stable and strong insurance firms capable of competing with those of the world.
This, according to him, was aimed at ensuring that insurance firms are capitalised, effectively managed and regulated.
He further stated that the whole efforts is aimed at strengthening the firms to fight against money laundering even as ensuring that competition among firms is not on price but on product offering.

Similarly, the heads of IT, NAICOM, Abiodun Aribike while presenting a paper titled ‘NAICOM’s Digital Transformation, Progress So Far’ describe digital transformation as bringing effectiveness, efficiency, cost reduction in the way things are done.
According to him, this means replacing manuals digitally to ensure time saving and encourage innovation.

Earlier in his welcome speech, the Commissioner for Insurance, Mr Sunday Thomas,
represented by the Deputy Commissioner, Technical, Mr Sabiu Abubakar stated that the Commission has finalised arrangement to unveil reforms, strategic plans, digital and market development that will transform the insurance industry.
He spoke at a dinner held to herald the 2021 NAICOM Seminar organised for journalists reporting the sector.
Thomas said the commission would continue to collaborate with journalists considering their role in the industry.
We will always appreciate your support in promoting the NAICOM agenda, Thomas added.