The Managing Director of GOXI Microinsurance, Shina Gbadegesin has applauded the recent release of the Regulatory Sandbox Guideline by the National Insurance Commission (NAICOM).
Gbadegesin in a statement noted that this initiative would promote innovation and drive insurance inclusion at the grassroots.
Gbadegesin added that regulatory sandboxes are guidelines that allow operators to seek a relaxed regulatory environment to test innovative ideas such as products, services, business models, or distribution channels.
He believes that this initiative by NAICOM will go a long way in promoting innovation and driving insurance at the grassroots, especially by licensed specialized microinsurers in Nigeria.
He said, “GOXI Microinsurance has invested significantly in technology since its inception, collaborating with various aggregators such as microfinance banks, cooperatives, fintechs, and community-based associations to drive insurance inclusion in Nigeria. The company sees the new initiative by NAICOM as an opportunity to further embrace technology innovation and drive all aspects of its operations.”