The National Insurance Commission (NAICOM) has announced that a new digital portal is ready to automate its operations across the country. The portal is tagged: “Digital Transformation of NAICOM’s Processes and Procedures,” which the federal insurance regulatory agency said will soon be launched for effective use by all stakeholders in the industry.
NIACOM’s deputy commissioner in charge of information technology made the disclosure at the weekend during a training for journalists.
The NAICOM portal is a digital platform that is designed to drive the core business processes of the Nigeria Insurance industry with the attendant benefits of service efficiency with quick turnaround time, eradication of fake insurance policies and improved public trust and confidence in insurance
NAICOM is undergoing transformation from the inside out and the target is to ultimately achieve an end to end automation of all its processes.
The NAICOM official disclosed that the digital transformation presents new opportunities, encourages innovation, creates new business processes and models, improves customer experiences and shifts organisational culture.
The commission highlighted the drivers of the ongoing digital initiative to include its vision for regulatory effectiveness and transformation of work processes; the impact of volatility, uncertainty, complexity, ambiguity on insurance; the need to change, innovate, improve and adapt as a regulator to present realities; evolving and changing stakeholders needs and preferences and rapid advances in information technology and emerging technologies.
The commission built a data center to house computer servers and associated components such as storage and networking equipment under the right cooling and power conditions.