NAICOM urges insurers to adopt customer‑centric business models

By Rosemary Iwunze

The National Insurance Commission (NAICOM) has urged insurers to shift from a product‑centric to a customer‑centric approach.

Commissioner for Insurance Mr. Olusegun Ayo Omosehin made the remarks at the opening ceremony of Insurance Week 2026. He explained that a customer‑centric model involves actively engaging clients in product development, soliciting their input, understanding their expectations, and designing solutions that meet real‑life needs.

He said, “Products become more relevant and accessible, pricing structures become more acceptable, and, most importantly, trust and ownership are significantly enhanced.”

Omosehin noted that Insurance Week has gradually become a key platform for engagement, reflection, and constructive feedback within Nigeria’s insurance sector.

He added, “Insurance Week is far more than a ceremonial occasion. The array of activities outlined for this year demonstrates the industry’s clear intent to engage more closely with the market, listen to the voices of customers, and foster stronger relationships with all stakeholders.”

“It provides us with a unique opportunity to assess our progress, confront persisting challenges, and, most importantly, renew our collective commitment to building a resilient, inclusive, and trusted insurance ecosystem,” he continued.

Omosehin further stated, “At NAICOM, we regard public awareness not as a peripheral activity but as a core strategic priority. The success of insurance in any economy is fundamentally anchored on the level of public understanding, trust, and acceptance.”

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