The experts, who spoke at the Nigerian Council of Registered Insurance Brokers(NCRIB)’s 60th Anniversary Grand Ball & Night Of Honour in Ikeja, Lagos on Wednesday, noted that, through technology, the abysmal insurance penetration level will definitely improve.
The chairman, Zenith General Insurance Company Limited, Dr. Jim Ovia, stated that, technology ensures that insurance industry information sharing is seamless, and incorporated into the underwriting process, while it has the tendency of reducing fraud risk (claims settlement) and cost of operations.
Believing adoption of technology improves consumers’ trust and confidence in insurance companies, he added that, technology is equally crucial in insurance products development as well as the brokerage fraternity.
