The Nigerian Insurers Association (NIA) novel Project Nigerian Insurance Industry Database (NIID) is yielding the needed result. The NIA said recently at its annual general meeting held in Lagos that they have captured over 8 Million Motor Insurance Certificates on the NIID in its six years of operations.
Before the birth of the NIID in 2011, it was impossible data wise to ascertain the number of genuine Insurance Certificates especially the most popular, the Third Party Motor Insurance.
Since the birth of the NIID, the situation has improved significantly as more companies have signed on to upload their third party motor insurance sales on the NIID Platform. The Platform makes it possible for motorists and vehicle inspection officers to easily verify the authenticity of their Third Party Motor Insurance just by Small code message (sms).
With the huge success recorded so far with the Third Party Motor Insurance, Operators are working to add Marine Insurance to the NIID Platform.