In­sur­ers step up ac­tion to en­hance ve­hi­cle in­sur­ance in­spec­tion in low in­ter­net ar­eas

Business Day (Nigeria) - - NEWS - MODESTUS ANAESORONYE

To en­sure that con­sumers and ve­hi­cle in­spec­tion of­fi­cers across dif­fer­ent parts of the coun­try with or with­out in­ter­net ac­cess are able to ver­ify their mo­tor ve­hi­cle in­sur­ance, the Nige­rian In­sur­ers As­so­ci­a­tion (NIA) has launched the Un­struc­tured Sup­ple­men­tary Ser­vice Data (USSD) Code.

The code: *565*11# will en­able con­sumers and of­fi­cials in charge of ve­hi­cle mon­i­tor­ing and in­spec­tion to val­i­date gen­ui­ness and va­lid­ity of the ve­hi­cle in­sur­ance cover they have any­where in the coun­try.

The NIA it would be re­called had in 2001 launched the Nige­rian In­sur­ance In­dus­try Data­base (NIID, which helped cap­ture in­sur­ance poli­cies ob­tained by mo­torist’s real time on­line on the in­ter­net and through ded­i­cated hand held de­vices.

But to­day, the plat­form has only cap­tured about 2 mil­lion ve­hi­cles, un­der­scor­ing the high preva­lence of fake and par­al­lel mar­ket op­er­a­tors.

Speak­ing at the of­fi­cial launch of the Code in Lagos, Tope Smart, chair­man of the NIA said this rep­re­sents yet an­other gi­ant step to­wards bring­ing in­sur­ance closer to the peo­ple and ul­ti­mately elim­i­nat­ing fake in­sur­ance cer­tifi­cates in the mar­ket.

Smart said the USSD works in­de­pen­dent of in­ter­net con­nec­tiv­ity. In this in­stance, any mo­bile phone (not nec­es­sar­ily a smart­phone) would com­mu­ni­cate with the NIID sys­tem to re­trieve pol­icy sta­tus when­ever re­quired.

He said, “It is hoped that with the USSD, we would have fully over­come the prob­lems as­so­ci­ated with the ded­i­cated de­vices as it guar­an­tees un­in­ter­rupted ser­vice through­out the coun­try and on all net­works.

“Our ex­ist­ing and prospec­tive cus­tomers now have the op­por­tu­nity to con­firm the gen­uine­ness of their re­spec­tive poli­cies at the time of pur­chase to avoid any em­bar­rass­ment should claim oc­cur.”

He how­ever thanked the part­ners in the jour­ney- Nige­ria In­ter-bank Set­tle­ment Sys­tem plc and Courteville Busi­ness So­lu­tions plc for their sup­port and as­sured them of more strate­gic part­ner­ships as we de­velop other mod­ules to im­prove in­sur­ance busi­ness in Nige­ria.

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