The Nigerian insurance industry has entered a fresh phase of reform with the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, and a new initiative has been unveiled to ensure the sector maximizes its potential.
Inspenonline, a leading industry publication, has launched a research-based platform known as the Insurance Industry’s Think-Tank on NIIRA and Recapitalisation. The platform aims to harness knowledge, data, and insights from key stakeholders to accelerate growth within the industry under the new regulatory framework.
Speaking on the development, the Publisher/Editor of Inspenonline, Mr. Chuks Udo Okonta, explained that the Think-Tank would serve as a knowledge hub, sourcing contributions from Chief Executive Officers of insurance companies, shareholders, and policyholders. He said the initiative would provide robust, evidence-based data needed to guide decision-making and policy implementation across the sector.
According to him, contributions will be shared daily on a dedicated Think-Tank page, while a communiqué summarizing key insights will be circulated periodically. He added that stakeholders will have the opportunity to make their input either through interviews or structured questionnaires, with findings published across both print and visual channels.
Mr. Okonta urged industry players to support the platform, describing it as a vital tool for building a sustainable knowledge base and fostering meaningful exchange of ideas within the insurance space.
He further emphasized that research-driven initiatives are critical for the sector to thrive, noting that no industry can achieve sustainable growth without the backing of solid data and continuous intellectual engagement.
“The NIIRA has opened a new chapter for the Nigerian insurance industry,” Okonta said. “But to truly unlock its opportunities, we must embrace knowledge-sharing, research, and collaboration.”
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