{"id":6885,"date":"2026-11-02T18:45:52","date_gmt":"2026-11-02T18:45:52","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/02\/nia-bets-on-technical-committees-to-shape-policy-drive-insurace-market-development-businessday-ng-3\/"},"modified":"2026-11-02T18:45:52","modified_gmt":"2026-11-02T18:45:52","slug":"nia-bets-on-technical-committees-to-shape-policy-drive-insurace-market-development-businessday-ng-3","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/02\/nia-bets-on-technical-committees-to-shape-policy-drive-insurace-market-development-businessday-ng-3\/","title":{"rendered":"NIA bets on technical committees to shape policy, drive insurace market development \u2013 Businessday NG"},"content":{"rendered":"

The Nigerian Insurers Association (NIA) is looking to strengthen the influence of its technical committees in shaping industry policies, influencing regulatory decisions and driving market development, as insurers seek a more proactive role in addressing emerging risks and expanding the sector\u2019s contribution to the economy.\n<\/p>\n

Ebelechukwu Nwachukwu, chairman of the NIA, has challenged the association\u2019s technical committees to move beyond routine responsibilities and provide strategic recommendations that can influence policy direction, strengthen industry advocacy and improve the operating environment for insurance businesses.\n<\/p>\n

Speaking at a breakfast meeting with chairmen and secretaries of the committees in Lagos, Nwachukwu said their technical expertise would be critical to the association\u2019s ability to respond to regulatory developments, emerging market challenges and opportunities for sustainable growth.\n<\/p>\n

She noted that the NIA Governing Council relies significantly on the committees\u2019 recommendations in making decisions on market conduct guidelines, regulatory policies and other issues affecting the insurance industry.\n<\/p>\n

The engagement provided an opportunity for the association\u2019s leadership and committee representatives to review their performance, identify operational gaps and explore ways to improve their contributions to the industry.<\/p>\n

While commending the committees for their longstanding contributions, Nwachukwu called for greater commitment, innovation and responsiveness, stressing that the association needed stronger technical input to advance the collective interests of insurers.\n<\/p>\n

Her position reflects the growing importance of industry-led engagement in shaping Nigeria\u2019s insurance market, particularly as regulatory reforms, changing risk exposures and technological developments continue to reshape the business environment.\n<\/p>\n

\u201cAs insurers, we must not be reactive but proactive in driving conversations around policies and developments affecting the economy and its various sectors. As risk bearers, we have a critical role to play in providing insights and solutions that promote economic stability and resilience,\u201d she said.\n<\/p>\n

Nwachukwu said the association must become more influential in national economic conversations by ensuring that its positions on policy and regulatory issues are backed by practical industry experience and well-developed technical recommendations.\n<\/p>\n

\u201cThe NIA must become stronger and more influential in advancing the collective interests of the insurance industry. To achieve this, our Technical Committees must be at the forefront of driving meaningful engagements, developing practical solutions and providing strategic recommendations that will strengthen the industry,\u201d she added.<\/p>\n

The NIA\u2019s technical committees are positioned to contribute to these priorities by providing specialised knowledge across different segments of insurance operations, identifying regulatory bottlenecks and proposing measures that can improve business practices and market confidence.\n<\/p>\n

Nwachukwu also highlighted the need for collaboration, knowledge-sharing and timely responses to industry developments, urging committee members to combine their expertise in addressing emerging risks, regulatory challenges and opportunities.\n<\/p>\n

She said the effectiveness of the committees would have a direct bearing on the association\u2019s ability to champion industry reforms, strengthen stakeholder confidence and contribute to national economic development.\n<\/p>\n

Bola Odukale, director-general of the NIA, reaffirmed the association\u2019s commitment to providing institutional support and improving coordination between the committees and the secretariat to ensure that their recommendations produce measurable outcomes.\n<\/p>\n

In her welcome address, Odukale appreciated the committee leadership and members for their professional contributions and continued support for the association, assuring them that the secretariat would strengthen communication channels and facilitate the timely consideration of technical recommendations.<\/p>\n

She said improved collaboration between the committees and the secretariat would enhance their operational effectiveness and enable the association to respond more efficiently to issues affecting the market.\n<\/p>\n

The committees represented at the meeting cover critical areas of insurance operations and administration, including claims management, accounting, legal, information technology, human capital management, corporate affairs, reinsurance, life insurance, marine, motor, fire, energy and special risks.\n<\/p>\n

Others include the Accident Offices Committee, Microinsurance Committee, Agricultural Insurance Committee, and Risks, Audit and Compliance Committee.\n<\/p>\n

Their broad representation gives the NIA a platform to develop coordinated industry positions on issues ranging from claims settlement and underwriting standards to digital transformation, regulatory compliance and expanding insurance access.\n<\/p>\n

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\n\t\t\t\t\t\t\"\"\t\t\t\t\t\t<\/p>\n
\n\t\t\t\t\t\t\tModestus Anaesoronye<\/a><\/strong><\/p>\n

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd.
\n
\nA widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia.
\n
\nAnaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

The Nigerian Insurers Association (NIA) is looking to strengthen the influence of its technical committees in shaping industry policies, influencing regulatory decisions and driving market development, as insurers seek a… <\/p>\n","protected":false},"author":1,"featured_media":6886,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/6885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=6885"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/6885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/6886"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=6885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=6885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=6885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}