•Sets agenda for insurance growth

TheNigerian Insurers Association (NIA) is set to usher in a new era with the emergence of Mrs. Ebelechukwu Nwachukwu as its first female chairman, a development industry stakeholders believe could accelerate efforts to deepen insurance penetration and rebuild public confidence in the sector.

Nwachukwu, who becomes the 27th chairman of the association, unveiled a three-point agenda centred on collaboration, public enlightenment and regulatory engagement, promising to align her leadership with the founding objectives of the NIA.

Addressing journalists in Lagos, the Managing Director and Chief Executive Officer of Rex Insurance Limited said her administration would focus on expanding insurance access through strategic partnerships and improving the industry’s relevance to millions of Nigerians.

“My chairmanship will be defined by collaboration, not competition; by deepening public understanding, not industry jargon; and by building bridges across the entire financial services landscape,” she said. “My vision is to align with the NIA’s core mission. Under my leadership, NIA will focus on three key areas that directly reflect our Association’s mandate and will ensure that NIIRA 2025 delivers real, lasting benefits.” As part of efforts to drive insurance penetration, Nwachukwu said the association would strengthen collaboration with banks, fintech firms, microfinance institutions and other distribution channels to reach more individuals and businesses.

“I will pursue strategic alliances with banks and other financial institutions to distribute insurance products, leverage digital channels, and reach the millions of Nigerians and small businesses that have been left out. This is how we will move insurance from a niche product to a mass market essential,” she stated.

She identified poor public understanding as one of the biggest obstacles to insurance growth in Nigeria, noting that many Nigerians remain skeptical about insurance because they are unfamiliar with its benefits.

“My second agenda is to create a better understanding of insurance. One of the NIA’s clearest objectives is ‘to create a better understanding of insurance by all sections of the community’. Trust deficits exist largely because people do not understand what insurance truly offers,” she said.

According to her, the association will work to simplify policy language, improve claims processes and showcase practical examples of insurance delivering value to policyholders.

“My tenure will focus on making insurance understandable to every Nigerian. We will simplify claims, clarify policy language, and share real stories of insurance that works, protecting families and businesses. When people understand insurance, they trust it, and when they trust it, they buy it,” she added.

Nwachukwu also pledged to strengthen engagement with government and regulators, describing the NIA as a key stakeholder in shaping policies that support a sustainable insurance industry.

“My third agenda is to advise the government on insurance-related legislation and assisting members to comply with regulations. I will ensure that NIA serves as a credible, constructive partner to regulators, providing technical input, flagging implementation challenges, and advocating for policies that support a healthy, competitive industry,” she said.

She further disclosed that the Nigerian Insurance Industry Reform Agenda (NIIRA) would be deployed to promote insurance awareness, improve compliance and boost adoption across both public and private sectors.

“With NIIRA, we shall focus on deepening better understanding of insurance among the Nigerian public through sustained programmes to drive enlightenment, enforcement and insurance adoption by both the private and public sector,” she stated.

Nwachukwu assured stakeholders that her leadership would strengthen industry standards, support member companies in meeting regulatory requirements and expand insurance access across urban and rural communities.

“We shall build an insurance sector that all Nigerians can trust, because they finally understand it, and because we have earned that trust,” she said.

Also speaking, Chairman of the Investiture Publicity Sub-Committee, Mr. Olamide Olajolo, said local insurers would seek stronger partnerships with international reinsurance firms to boost technical capacity and enhance risk underwriting.

“We shall collaborate with foreign reinsurance firms for knowledge transfer and increased capacity,” he said.

Her appointment marks a historic milestone for the NIA and underscores the growing role of women in leadership positions within Nigeria’s financial services industry.