On Monday, 9 February 2025, CRC Credit Bureau, led by its MD/CEO, Dr. ‘Tunde Popoola, alongside Mrs. Jelilat Kareem, Executive Director, and Mr. Ayodeji Aluko, Head of Partnerships and Data Analytics, held a strategic executive engagement with the leadership of the National Insurance Commission (NAICOM), led by the Commissioner for Insurance/CEO, Mr. Olusegun Ayo Omosehin.

The engagement focused on exploring how robust credit intelligence and risk assessment solutions can support insurers to improve underwriting quality, reduce fraud, and strengthen overall risk management, while aligning with NAICOM’s mandate to promote market stability and sustainable growth within the insurance sector.

At the core of the discussions was a shared vision to:

  • Drive industry-wide adoption of structured, data-led risk assessment

  • Enhance underwriting efficiency, compliance, and risk discipline

  • Expand insurance penetration and strengthen public confidence in the insurance market

CRC presented its value proposition as a strategic ecosystem partner, highlighting its role as Nigeria’s largest credit bureau, serving over 2,200 institutions with more than 50 million subject records. The presentation demonstrated how credit and risk data can be leveraged, under regulatory guidance, to support insurers in building more resilient and inclusive insurance offerings.

The engagement was met with strong interest from the NAICOM leadership. The Commissioner for Insurance described the discussion as timely and aligned with the Commission’s broader objectives of deepening insurance penetration and improving public perception of the industry.

The proposed collaboration delivers clear value across the ecosystem:

  • NAICOM advances its supervisory, market development, and stability objectives

  • Insurance companies strengthen underwriting, fraud controls, and risk management practices

  • CRC deepens its footprint as the leading provider of credit and risk data within Nigeria’s insurance market

CRC remains committed to working closely with NAICOM and industry stakeholders to support a more resilient, transparent, and inclusive insurance sector in Nigeria.