By Cynthia Alo

THE National Insurance Commission, NAICOM, yesterday, vowed to assess and rank insurance companies based on the quality of their service delivery.

This, according to the Commission, will provoke healthy competition among insurers and also boost consumers’ confidence in the industry.

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Speaking at the second edition of the consumers’ interactive session with NAICOM in Lagos, Acting Commissioner of Insurance, NAICOM, Mr Sunday Thomas, stated that customers’ satisfaction is central to the sustainability and success of every business, including insurance.

Thomas, who was represented by a Director in the Commission, Alhaji Adamu Balanti, said: “The Commission shall continue to introduce new reforms and initiatives in line with international best practices or consumer protection and customer satisfaction. “Henceforth, insurance companies will be assessed and ranked on the quality of their service delivery to customers and the ranking of companies in this regard will be made public to provoke healthy competition among insurers. This, we believe, will boost consumers’ choice and confidence in insurance.”

Also, he said: “The Complaints Bureau Unit of the Commission has also been working assiduously to resolve policyholders’ issues relating to non-settlement of claims, contract agreement violation among others. It is pertinent to inform you that the unit has been further enhanced with the deployment of more staff at a very senior level to effectively discharge assigned responsibilities. Its doors are widely open to receive and resolve, as much as it can, issues on non-settlement of genuine claims from the public.

Vanguard