Business
Mrs Ebelechukwu Nwachukwu, newly inaugurated Chairperson of NIA and other dignitaries during her investiture on Friday in Lagos
EBELECHUKWU Nwachukwu was inaugurated on Friday as the 27th Chairperson of the Nigerian Insurers Association (NIA), becoming the first woman to lead the association in its 55-year history.
Nwachukwu, Managing Director of Rex Insurance, assumed office during an investiture ceremony in Lagos, promising reforms aimed at strengthening public confidence and expanding insurance penetration nationwide.
She urged insurers, brokers, agents, insurtech firms and marketers to embrace coordinated awareness campaigns instead of isolated promotional activities across the industry.
According to her, such campaigns should align with the National Insurance Commission’s financial literacy programmes and inclusive insurance objectives to broaden insurance access nationwide.
“I call on all insurers, brokers, agents, insurtechs and marketers to move beyond isolated campaigns and commit to coordinated industry-wide awareness initiatives,” she said.
Nwachukwu stressed that operators must simplify insurance communication and eliminate technical language that discourages potential customers from embracing insurance products.
“Let us replace jargon with clarity. Let us replace fear with proof. When we pay claims quickly and fairly, we do not just satisfy a customer.
“Every paid claim is a testimony. Every testimony grows our market,” she added, describing prompt claims settlement as the industry’s strongest marketing tool.
She also urged insurers to strengthen professional development, actuarial discipline, risk management and digital capability while making enforcement of compulsory insurance a central industry priority.
Nwachukwu called for stronger collaboration among insurers, regulators, brokers, agents, reinsurers, banks and other financial institutions to deepen insurance penetration.
According to her, strategic partnerships and digital distribution channels would transform insurance from a niche financial product into an everyday necessity for millions of Nigerians.
The chairperson unveiled her administration’s A.C.E Agenda, anchored on awareness, capacity building and enforcement, to reposition Nigeria’s insurance industry for sustainable growth.
She said the objective was transforming the sector from a low-penetration, fragmented and low-trust market into one that is trusted, accessible, high-performing and self-regulating.
Earlier, the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, congratulated Nwachukwu on her emergence as association chairperson.
Omosehin expressed confidence that her leadership would accelerate growth, deepen professionalism and strengthen the insurance industry’s contribution to Nigeria’s economic development.
He charged the association to provide industry leadership through prompt claims settlement, improved market discipline and greater adoption of digital innovation.
“Every claim paid, every policy clearly explained and every customer treated fairly adds to the strength of the industry
“My charge to the NIA is to make claims experience a market-wide priority. Let us publish our claims record. Let us compete on service.
“Let Nigerians feel the impact of insurance,” the NAICOM boss added, urging operators to build trust through transparent claims management and outstanding customer service.
Omosehin also called on the association to support stricter enforcement of compulsory insurance, noting that compliance protects policyholders while strengthening the industry’s credibility.
He further urged insurers to accelerate digital adoption, making insurance products easier to access, understand and purchase through technology-driven solutions.
Omosehin assured the association of NAICOM’s continued collaboration with operators while maintaining firm regulatory standards to build a stronger, more trusted and resilient insurance industry. (NAN)
A.I
July 4, 2026
Tags: Mrs Ebelechukwu Nwachukwu NAICOM NIA Rex Insurance