NAICOM CRC partnership launched to integrate insurance data, improve underwriting, prevent fraud, and strengthen risk management in Nigeria

The National Insurance Commission (NAICOM) has entered into a strategic partnership with CRC Credit Bureau Management to integrate insurance data and strengthen risk management across Nigeria.

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The agreement was reached during a courtesy visit by CRC Credit Bureau executives to the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, at the NAICOM headquarters in Abuja.

Dr. Tunde Popoola, Managing Director and CEO of CRC Credit Bureau, highlighted the potential of the collaboration to enhance digital adoption in the insurance sector, improve underwriting, accelerate claims processing, and reduce fraud through integrated credit and insurance data.

Mr Omosehin welcomed the partnership, emphasising NAICOM’s commitment to leverage data analytics for regulatory oversight, fraud detection, and capacity building within the insurance industry.

Both organisations agreed to pursue practical steps including product demonstrations, analytics showcases, training programmes, and the development of a dedicated insurance-sector database and integration framework.

Industry analysts noted that integrating insurance data with national credit reporting systems could significantly improve risk-based pricing, accuracy in underwriting, and operational efficiency while mitigating fraudulent activities.

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The partnership marks a pivotal move towards digitisation and enhanced transparency in Nigeria’s insurance market, supporting long-term sector growth and consumer confidence.