The National Insurance Commission (NAICOM) has pegged the minimum share capital of web aggregators at N5 million and a registration fee at N3 million. The web aggregators will in months, receive operational licences. A web aggregator is an insurance intermediary or an insurance company that provides a comparison of insurance products and also the prices of different classes of insurance products to consumers. Having an insurance web aggregator licence would not permit a web aggregator to provide ranking and comparison of different insurance providers and their products. Web aggregators can display only insurance products.

Source: The Guardian June 13, 2022 03:49 UTC