On 30 July 2025, the National Insurance Commission (NAICOM) issued new guidelines for Insurtech operators in Nigeria (the Guidelines), which became effective on 1 August 2025. The Guidelines introduce a structured regulatory framework for the operation of Insurtech solutions in Nigeria and apply to standalone Insurtech entities as well as licensed insurers partnering with Insurtech providers.
The issuance of the Guidelines marks a significant milestone in Nigeria’s insurance sector, as they aim to facilitate the innovation and development of the Insurtech sector by establishing operating standards while protecting customers from risk.
Additionally, it seeks to provide a clear framework for eligible Insurtech operators to transition into standalone insurtech companies. Notably, NAICOM has mandated that no Insurtech business may be conducted without obtaining prior registration or authorisation and has granted existing operators a 30-day window from the effective date to regularise their operations.
