Insurance companies in Nigeria, under the aegis of the Nigeria Insurers Association (NIA) have reiterated their commitment to stamping out sharp practices in the industry, and raising client service standards.
At a refresher course organised recently by the association in collaboration with Courteville Business Solutions, technology consultant on the development and deployment of the Nigerian Industry Insurance Database (NIID), participants received training on maximising the benefits of the platform’s features. Courteville, the course’s joint organiser, owns and operates the AutoReg franchise in use in 23 states across the federation.
The AutoReg motor vehicle administration platform handles the registration of eight out of 10 vehicles on Nigerian roads.
The NIID is the only central record of all insured vehicles in Nigeria. Until its launch in 2011, it was a lengthy process for vehicle owners and law enforcement agents to verify the authenticity of policies.
To date, the platform has captured about 3 million vehicles. This is a far cry from over 14 million vehicles plying Nigerian roads, exposing the massive level of fraud in insurance policy issuance since most car owners do not know they have fake papers.
A survey carried out by the Chartered Insurance Institute of Nigeria (CIIN) revealed that in 2014 only N12 billion was generated from third party motor insurance policies against N70 billion expected. Lost revenue to insurance companies, decline of trust when vehicle owners discover they have fake policies after an accident, and the embarrassment from law enforcement agents during stop-and-search operations highlight the relevance of the database.
The Controller, IT, Research and Statistics of the NIA , Mrs. Bola Omole harped on the need for insurance companies to stay abreast of the latest trends in technology through periodic training and professional development.
An enterprise software developer and the NIID product champion in Courteville, Tosin Kalejaiye took the participants through recent upgrades implemented on the platform.
The refresher course, which held in Courteville’s state-of-the-art training facility, also afforded attendees the opportunity to share their user interaction experiences with the NIID’s administrative interface.
The participants thanked the NIA and Courteville for organising the training. They also requested for other fora where they can meet to discuss non-NIID support issues.