Nine years after the Nigerian Insurance Industry Database was introduced to curb the proliferation of fake motor insurance certificates on Nigerian roads, the menace of fake insurance papers by fraudulent vendors has not stopped, NIKE POPOOLA reports. Past effortsAbout a decade ago, the National Insurance Commission disclosed that 90 per cent of vehicles on Nigerian roads had fake insurance certificates. On this ground, the Nigerian Insurers Association, the umbrella body of all insurance firms, introduced the e-certificate known as the Nigerian Insurance Industry Database. Nigerian Insurance Industry DatabaseIn 2010, the Nigerian Insurers Association with its regulator, the NICOM, took a major step towards eliminating fake insurance certificates in the market by introducing the NIID. The objectives of the NIID were to serve as an authentic database of the Nigerian insurance industry data, and provide qualitative statistics/analysis of the industry data, as a vehicle for easy verification of genuine insurance certificates by all stakeholders.

Source: Punch December 29, 2019 23:03 UTC