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The National Insurance Commission (NAICOM) has introduced a new digital licensing portal designed to streamline and expedite the registration and renewal processes for insurance agents. This development marks a significant move towards reducing manual intervention and enhancing efficiency in the licensing system.
Effective August 1, 2024, the new portal will be the exclusive platform for all registered insurance agents and companies to handle their licensing applications. NAICOM has announced that the portal will facilitate quicker processing times and minimize the administrative burden associated with manual licensing procedures.
In an official statement, NAICOM noted: “We are pleased to announce the launch of a new licensing portal for insurance agents. This portal is designed to simplify and accelerate the registration and renewal of licenses while reducing the reliance on manual processes.”
The commission further emphasized that all applications for agency license registration and renewal must be submitted through the new portal moving forward. Agents and insurance companies with pending applications on the previous system are advised to resubmit them via the new portal.
NAICOM urged all stakeholders to familiarize themselves with the new portal and adhere to the updated procedures to ensure a smooth transition. This initiative reflects NAICOM’s commitment to modernizing the insurance sector and improving regulatory processes in Nigeria.
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