Regulatory Update: 2025 Guidelines For Insurtech Operations In Nigeria – Navigating Compliance

Introduction

In furtherance of its regulatory powers, the National Insurance Commission (the "Commission") in its circular dated July 30, 2025 issued the Guidelines for Insurtech Operations in Nigeria 2025 (the "Guidelines"). The Guidelines provide a comprehensive regulatory framework for the safe, responsible, and efficient deployment of Insurtech solutions by licensed insurance entities and technology-driven firms operating in Nigeria.

Effective August 1, 2025, these Guidelines introduce key provisions—including licence categorization, minimum capital requirements, and the scope of permissible activities. which this newsletter sets out.

1. What is Insurtech?

The Guidelines define Insurtech as follows – "Insurtech is a combination of the words "insurance" and "technology". Insurtech refers to an institution that uses technological innovations to provide insurance services efficiently and effectively". Accordingly, it may be inferred from the Guidelines