Nigeria: Adopted and implemented Insurance Web Aggregators Operational Guidelines

On 1 February, 2022, the National Insurance Commission of Nigeria (NAICOM) published the "Insurance Web Aggregators Operational Guidelines" which enter into force on the same date. The Guidelines provide information on the registration, oversight, and monitoring of web aggregators in the insurance sector. A web aggregator is defined as any website that provides resources and information on products and pricing of insurance companies and offers leads to an insurance company. Web aggregators are required to register under the Companies and Allied Matters Act and obtain a license to exercise their business as intermediary between the public and insurers.