NAICOM has granted a license to CBI Partner Insurtech Ltd, marking it as the first fully licensed insurtech company in Nigeria. This approval aligns with the Nigerian Insurance Industry Reform Act 2025 and aims to modernize the insurance sector while promoting innovation.
NAICOM reaffirmed its commitment to developing a robust insurance industry during the 21st Insurance Committee meeting in Lagos, emphasizing the importance of collaboration across sectors to enhance risk-sharing and improve service delivery within the insurance ecosystem.
NAICOM has licensed CBI Partner Insurtech Ltd as the first fully licensed insurtech company in Nigeria under the new regulatory framework. This milestone reflects NAICOM's commitment to innovation and consumer protection within the insurance industry.
