This week we completed Stage 3 of the NAICOM Partnering Insurtech licensing process — a formal pre-licensing interview in Abuja. We expect formal licence award within weeks.
The process has been demanding. Three stages, dozens of documents, formal interviews, security audits, AML/CFT framework review, business-continuity plan stress testing. We submitted thousands of pages of documentation. We re-submitted some of them.
We're glad it's rigorous. Insurance regulators in every market exist to protect customers from companies that don't take customer money seriously — and the bar in Nigeria, under the new NIIRA 2025 framework, is genuinely high.
When our licence is awarded, it'll mean something.