CRC Credit Bureau Eyes NAICOM Tie-Up to Supercharge Insurance Data

By Linda Ike

CRC Credit Bureau has formally proposed a strategic partnership with the National Insurance Commission (NAICOM) to integrate insurance data into Nigeria’s national credit reporting system and strengthen risk management across the sector.

Dr. Tunde Popoola, CRC’s Managing Director/Chief Executive Officer, led a courtesy visit to Commissioner for Insurance Mr. Olusegun Omosehin at NAICOM’s Abuja headquarters, where he outlined plans to blend insurance sector information with CRC’s credit reporting platform.

He said the move would deepen digital adoption, reduce fraud, and improve underwriting, claims assessment, and customer profiling in the Nigerian insurance industry.

In response, Commissioner for Insurance, Omosehin welcomed the initiative, emphasising NAICOM’s keen interest in leveraging CRC’s data infrastructure and analytics for regulatory oversight, KYC checks, fraud detection, and broader industry capacity building.

Both sides agreed to take concrete steps, including product demonstrations, analytics showcases, and creating a proposal for an insurance-sector database and integration framework, as well as holding targeted training and strengthening day‑to‑day collaboration.

Integrating insurance data into the national credit ecosystem, CRC said, will support more accurate risk-based pricing, faster and cleaner claims processing, better monitoring of fraudulent activities such as multiple claims, sharper KYC and identity verification, and the expansion of digital insurance products that can deepen financial inclusion.