“Stronger Risk Management Ahead as NAICOM Welcomes CRC Credit Bureau”

From left: Mr. Ayodeji Aloko – Head Data Analytics CRC Credit Bureau, Mr. Ekerete Ola Gam-Ikon – Dep. Commissioner for Insurance Finance and Admin, Dr. Tunde Popoola – MD/CEO CRC Credit Bureau, Mr. Olusegun Ayo Omosehin – CFI, Jelilat Kareem – Executive Director CRC Credit Bureau and Dr. Usman Jankara – Dep. Commissioner for Insurance Technical  Today February 9, 2026, Abuja.

The National Insurance Commission (NAICOM) has signalled a major step toward deepening data-driven regulation and strengthening risk management in Nigeria’s insurance industry, as the Commission welcomed a strategic partnership proposal from CRC Credit Bureau aimed at integrating insurance sector data into the national credit reporting ecosystem.

The proposal emerged during a courtesy visit by the management of CRC Credit Bureau to the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, at NAICOM’s headquarters in Abuja.

Speaking during the meeting, the Managing Director/Chief Executive Officer of CRC Credit Bureau, Dr. Tunde Popoola, outlined the bureau’s readiness to collaborate with NAICOM to embed insurance data within Nigeria’s broader credit infrastructure. He explained that such integration would accelerate digital adoption across the insurance value chain, curb fraud, and significantly improve underwriting accuracy as well as claims management efficiency.
Popoola noted that leveraging structured data and advanced analytics would not only enhance operational transparency but also support the development of innovative insurance products capable of expanding financial inclusion across underserved segments of the population.

https://amehnews.com/2026/02/09/naicom-and-crc-chart-new-path-for-inclusive-credit-access-and-insurance-penetration/

Responding, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, expressed NAICOM’s strong interest in working closely with CRC Credit Bureau, particularly in deploying data analytics to strengthen regulatory oversight, improve Know-Your-Customer (KYC) processes, detect fraudulent activities, and build technical capacity within the insurance industry.

Both institutions agreed to advance the collaboration through concrete implementation steps, including product demonstrations and analytics showcases, the development of a comprehensive proposal for an insurance-sector database and integration framework, capacity-building and training initiatives for industry stakeholders, and closer operational coordination between NAICOM and CRC.

Industry observers note that integrating insurance data into national credit systems could deliver multiple transformative benefits. These include more accurate underwriting and risk-based pricing, faster and more precise claims processing, stronger fraud detection—especially in tracking multiple or suspicious claims—enhanced customer verification through shared datasets, and improved support for digital insurance solutions designed to widen access to financial protection.

The emerging NAICOM-CRC collaboration is widely viewed as a critical milestone in Nigeria’s broader push toward a transparent, technology-enabled, and resilient financial services ecosystem capable of supporting sustainable economic growth.

NAICOM and CRC Credit Bureau plan strategic data integration to enhance underwriting accuracy, fraud detection, digital insurance adoption, and financial inclusion across Nigeria’s insurance sector.