Nigerian insurers urged to simplify claims handling processes

The National Insurance Commission (NAICOM) has called on Nigerian insurance companies to simplify their claims handling processes and honor their contractual commitments.

NAICOM believes that a transparent, stress-free process and more efficient claims handling could improve the industry's reputation and customer experience.

Simplifying claims processing is an essential step in restoring the public's confidence in the insurance industry.

The Nigerian insurance market has been facing a persistent lack of public trust for years, due in part to delays in claims settlement, outright rejection of claims and often unfounded regulatory requirements. This has made insurance one of the country's most unreliable financial services.