By ROSEMARY ONUOHA
Underwriters that have been foot-dragging in sending statistics of their motor insurance business to the Nigerian Insurers Association, NIA, should stop further delay and speedily send the required information to NIA.

Managing Director of Guinea Insurance Plc, Mr. Soji Emiola, who made this assertion, stated that NIA members should comply with the directive because it will be in the best interest of insurance operators.

It will be recalled that the FRSC has requested the NIA to send the comprehensive data base of genuine motor insurance policies in the country, so that it will be included in the new plate number and licensing scheme.

However, a lot of underwriters have been skeptical of the directive as they fear that they could lose motor insurance business to the FRSC, the way the industry lost the pension scheme, the national health insurance scheme as well as workmen’s compensation.

Meanwhile while appealing to his colleagues, Emiola noted that having a common data base for all NIA members is the best way to go for the industry, stating “If you insure with company A, you will not take it to company B to insure.  The initiative is for the good of the industry.”

Emiola stated that insurers should collaborate rather than compete, reiterating that the rate of divisiveness and stiff competition going on in the sector is not ideal for business growth.

While decrying the high level of division in the sector, Emiola said that insurers should not bring on their divisive tendencies into the common data base issue; rather they should collaborate to ensure that it succeeds.

However, while allaying the fears of skeptics in the sector, Chairman of NIA, Mr. Olusola Ladipo-Ajayi noted that automation of motor certificates in the country has come to stay and the move is not for the FRSC to hijack motor insurance from underwriters but is a collaborative process between the NIA and the FRSC to wipe out fake insurers in the country.

While emphasising that the motor insurance business will not slip away from insurers, Ladipo-Ajayi explained that in the process of trying to do new licensing, the FRSC will contact NIA data base which will be linked to FRSC data base and consequently determine whether the client at hand is dealing with a government recognised insurance company or not.