PODCAST: Regulation – keeping consumers safe

The key role of an insurance regulator is to protect consumers by ensuring the insurance sector follows the rules and delivers on its promise to pay indemnifiable claims in the event of an incident. But what do regulators want? How do they manage the rising competitive factors in the insurance market, unbridled ‘foreign merger and acquisition’ consolidation versus unfeasible local fragmentation, protecting sector employment within the new-age forces of digital transformation, the vulnerable and uninsured that leads to the ever-widening protection gap, all while also allowing insurers to remain profitable and to support sustainable growth?

To discuss this, Liz Booth, of Africa Ahead, and Cassim Hansa, formerly with Continental reinsurance, chat to Sunday Thomas, Insurance Commissioner at Nigerian insurance regulator, NAICOM.