ICT, panacea for expansion of insurance market – Minister

The Minister of Communications ,Adebayo Shittu, has suggested ways of leveraging on Information and Communication Technology (ICT) to grow the potentials of the Nigerian insurance industry which he said has not been fully harnessed.  In a press statement by his Special Assistant on Media, Victor Oluwadamilare, the minister said this while delivering a keynote address […]

The Minister of Communications ,Adebayo Shittu, has suggested ways of leveraging on Information and Communication Technology (ICT) to grow the potentials of the Nigerian insurance industry which he said has not been fully harnessed.

 In a press statement by his Special Assistant on Media, Victor Oluwadamilare, the minister said this while delivering a keynote address titled, ‘Driving Insurance Penetration With Information and Communication   Technology’ at the e-Insurance Conference organised by Pinet Informatics Ltd in Lagos.

 Barr. Shittu noted that the nation’s insurance sector, which provides support to the financial institutions has not been fully explored, saying ”the Insurance sector despite being a major driver of business growth that provides a critical support system to the financial market has not fared well given the current size of the Nigerian economy and population”.