On 1st February, 2022, the National Insurance Commission
("NAICOM"), issued the Insurance Web
Aggregators Operational Guidelines ("Guidelines"),
2022.
The Guidelines set out the regulatory framework for the
deployment and operation of web aggregator platforms within the
Nigerian insurance sector and shall be read in conjunction with
other relevant legislation, guidelines and circulars as approved by
the Commission.
This article highlights the meaning of a Web aggregator; the
eligibility criteria for a web aggregator; the registration and
approval procedure required as a web aggregator; fees and
commission payable; validity and renewal of licence; among
others.
A. WHO IS A WEB AGGREGATOR?
