by NIyi Jacobs
The management of CRC Credit Bureau has sought a strategic partnership with the National Insurance Commission (NAICOM) to integrate insurance sector data into Nigeria’s national credit reporting system, as part of efforts to strengthen risk management, reduce fraud, and drive digital transformation in the insurance industry.
The move was disclosed during a courtesy visit by CRC Credit Bureau to the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, at the Commission’s headquarters in Abuja.
During the meeting, the Managing Director and Chief Executive Officer of CRC Credit Bureau, Dr. Tunde Popoola, explained that the proposed collaboration would enable the integration of insurance data into credit bureau systems, thereby enhancing underwriting accuracy, improving claims management, and supporting fraud prevention across the sector. He noted that access to structured insurance data would also accelerate digital adoption and improve confidence within Nigeria’s insurance ecosystem.
In his response, the Commissioner for Insurance, Mr. Omosehin, expressed NAICOM’s strong interest in collaborating with CRC Credit Bureau, describing the initiative as timely and aligned with the Commission’s regulatory objectives. He said leveraging CRC’s data and analytics capabilities would strengthen regulatory oversight, enhance Know-Your-Customer (KYC) processes, improve fraud detection, and support capacity building within the industry.
Both organisations agreed to pursue concrete next steps to advance the collaboration. These include product demonstrations
