Insurance Commissioner Challenges Brokers to Adapt to Changing Risk Landscape in Nigeria

The Insurance Commissioner, Mr. Olusegun Ayo Omosehin, urged insurance brokers to evolve in response to emerging risks in Nigeria's insurance sector.

Speaking at the investiture of Mr. Ekeoma Ezeibe as the 23rd President of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos, Omosehin emphasized the need for client-centric risk advisory over product-driven solutions.

He called for data-driven and ethical practices, urging brokers to enhance financial inclusivity through microinsurance and digital tools. Collaboration between the National Insurance Commission (NAICOM) and NCRIB to develop broker-led microinsurance solutions was also highlighted.