NIA considers collaboration with motor vehicle administration agency

The Nigerian Insurers Association (NIA), has said that the industry is partnering with the Lagos State Government to implement e-insurance to drive sales of third motor insurance using the Motor Vehicle Administration Agency (MVAA) platform of the state.

 

The move according to the industry is it’s effort to curtail the wave of fake motor insurances in the country.

 

Mrs Yetunde Ilori, who made the assertion during an interaction with Daily Independent Newspapers’ team in her office last week added that this would eradicate fake insurance with proper enforcement in place.

 

“We are looking for a way that a singular platform is used to issue motor insurance. We need a database where we can check as enforcement is going on. Like it is done in Lagos where an automated camera is used to track down vehicles without genuine documents including fake motor insurances whereby the censor picks and interact with our own database and if your number is not there, you are sanctioned.

 

So with that collaboration across all the states the fake insurances will be reduced to its minimum. The fact is that the innocent motorists may not be aware that the insurance certificates they are carrying are fake, but ignorantly they purchase a wrong one.

 

So, with the various education that we having and with the help of the media to take the message to the public on why they should patronize fake motor insurance vendors, there will be a change because if you buy fake insurance if anything happens nobody will come to your aid and you cannot hold anyone responsible,” said the NIA DG.

 

Mrs Ilori noted that the increase of third party motor insurance from N5,000 to N15,000 has put policyholders across ECOWAS subregion in better position for more benefits.

 

She, however, advised Nigerians to be weary of some insurers that are still selling third party motor insurance policies for below the approved N15, 000.

 

She said: “The saboteurs commonly found in vehicle licensing offices across the country deceive their victims and reap off their hard earned money and would never be available to pay claims when risks occur.”

 

She expressed misgivings over the huge loss the industry had recorded over the years due to fake motor insurance policies. She added that the industry is partnering the Lagos State Government to implement e-insurance to drive sales of third motor insurance through the Motor Vehicle Administration Agency (MVAA) platform of the state, adding that this would eradicate fake insurance.