The National Insurance Commission (NAICOM) has launched a new licensing portal for the registration and renewal of insurance agents’ licenses.

The new platform, which will be operational from August 1, 2024, will simplify the licensing process and minimize manual intervention in the insurance sector,

According to a statement from NAICOM yesterday in Abuja, “the launch of the new portal is a strategic move by the Commission to enhance efficiency in the licencing process”.

By digitizing the application and renewal procedures, NAICOM said it “aims to reduce bureaucratic delays and improve the overall experience for insurance agents and companies”.

According to NAICOM, the new portal—accessible at [https://agent.naicom.gov.ng] (https://agent.naicom.gov.ng)—will significantly ease and fast-track the licensing process.

The portal is designed to handle all applications for registration and renewal of agency licenses, ensuring a more streamlined and user-friendly process.

Key features of the new licensing portal include enhanced efficiency as the portal is expected to expedite the processing time for licensing applications, thereby reducing waiting periods for agents.

By automating much of the application process, the portal minimizes the need for manual handling, thus decreasing the likelihood of errors and delays. The portal is designed with an intuitive interface to facilitate ease of use for all agents and insurance companies.

NAICOM has advised all registered agents and insurance companies to take note of the new portal’s launch and to be guided accordingly. The commission emphasized that all pending applications, which have not yet been registered on the old portal, should be resubmitted through the new system.

This move aligns with NAICOM’s ongoing efforts to leverage technology for improved regulatory processes and to foster a more efficient insurance market in Nigeria.