The National Insurance Commission (NAICOM) has formally granted an operational licence to CBI Partnering InsurTech, marking a significant milestone as the first fully licensed Partnering InsurTech company in Nigeria.
The licence was presented during a formal handover ceremony, where the Commission reiterated its commitment to advancing innovation, regulatory reform and policyholder protection across the insurance sector, according to a NAICOM statement.
Speaking at the event, the Deputy Commissioner for Insurance, Finance and Administration, Mr Ekerete Ola Gam-Ikon, highlighted NAICOM’s ongoing efforts to align Nigeria’s insurance industry with global best practices. He referenced the recent enactment of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, alongside the Commission’s pioneering InsurTech guidelines, as some of the key pillars driving this transformation.
He noted that fostering innovation within a robust and well-governed regulatory framework remains a core strategic priority for the Commission.
The Managing Director of CBI, Mr Suleiman Olalekan Ajani, said, “The Commission’s robust regulatory framework provides the foundation for us to scale strategic partnerships and deliver technology-driven insurance solutions that prioritise consumer trust, transparency, and protection.”