My vision is to focus on NIA core mission under my leadership – Incoming NIA Chairman

The incoming Chairman of the Nigerian Insurance Association(NIA), and MD/CE of Rex Insurance Plc, Mrs. Ebelechukwu Nwachukwu has stated that under her leadership, NIA would concentrate on three key areas that directly affecting the Association’s mandate and would ensure that the new insurance Act delivers real lasting benefits to the industry.

She made the following remark during her pre-investiture media parley in Lagos while addressing insurance journalists. According to her. According her, ”My Vision is that the NIA will focus on three key areas that directly reflect our Association’s mandate and will ensure that the new insurance Act delivers real, lasting benefits:

”First, deepening Insurance Penetration through Collaboration We have long spoken about our low penetration rate. The new Act gives us the capital strength to innovate. But capital alone is not enough. We need partnerships – with banks, fintechs, microfinance institutions, and even non-financial platforms. The presence of the MD/CE of Fidelity Bank as Chairman of my investiture is a deliberate signal.

”I will pursue strategic alliances with banks and other financial institutions to distribute insurance products, leverage digital channels, and reach the millions of Nigerians and small businesses that have been left out. This is how we will move insurance from a niche product to a mass market essential.

Secondly, she stated that she would  creating a better understanding of insurance, as one of NIA’s clearest objectives is to create a better understanding of insurance by all sections of the community. ”Trust deficits exist largely because people do not understand what insurance truly offers. She said her tenure will focus on one thing: making insurance understandable to every Nigerian. ”We will simplify claims, clarify policy language, and share real stories of insurance at work, protecting families and businesses, because when people understand insurance, they trust it. and when they trust it, they buy it.”

Thirdly, Nwachukwu added that she would also be advising government and assisting members with compliance, Said she, ”The NIA has a statutory responsibility to advise government on insurance-related legislation and to assist members in complying with regulations.” With the new Act’s implementation, she said that this role becomes critical; stating that she will ensure that the NIA serves as a credible, constructive partner to regulators, providing technical input, flagging implementation challenges, and advocating for policies that support a healthy, competitive industry.

She pledged a renewed commitment, as the industry evolves under the new Insurance Act, making promise to focus on  collaboration with banks, fintechs, and other financial institutions to expand distribution; better understanding of insurance among the Nigerian public through sustained program to drive enlightenment, enforcement and insurance adoption by both the private and public sector.

She  however, promised to enforce stronger industry standards and compliance support for industry members; as well as, expanded access that brings insurance closer to every Nigerian, urban and rural alike.

Concluding, the incoming Chairman called on the media to help the insurance industry tell a new story; not of complexity and fine print, but of protection, partnership, and progress.

More importantly, she invited members of the media to work with the industry in the months ahead as it implement the new Insurance Act, deepen collaboration with banks and financial institutions, and building  an insurance sector that all Nigerians can trust, because they finally understand it, and have earned that trust.

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