The provider of Takaful insurance solutions, Noor Takaful Insurance Ltd is recognizing the need to drive insurance with technology.
Noor Takaful is looking at the capabilities and opportunities that can be derived from technology and how it advanced Takaful and non-interest finance in the continent. This was made known at the Lagos event where technological solution to drive insurance was discussed.
Opportunities for in-depth discussions and exchange of ideas were established at the 2-day event named, ‘Leveraging technology to build on the opportunities of takaful & non-interest finance in Africa’.
Muhtar Bakare who is the Chairman of Noor Takaful Insurance said during the event that idea to arrange the first conference stemmed from the need to make people understand Takaful and create brand recognition. He said it was also to disabuse people of the socioeconomic difference in the continent, especially the perception of the high poverty level in Africa.
His Royal Highness, Khalifa Muhammad Sanusi II, who was the special guest of honour quoted that, “There is a need for practitioners to see technology as a big enabler in advancing the Takaful model and non-interest finance in Africa”.
The royal highness also stressed that other firms in the industry should come together to look for ways to advance the regulations.
Sabiu Abubakar said his office is dedicated to aiding operators in boosting the expansion of Takaful in the country with laws that will be commercially friendly. He further stated that it is imperative for firms in the insurance business to imbibe technology to boost the expansion of the industry and foster the growth of the Takaful template.
Sabiu Abubakar who represented the Commissioner for Insurance, National Insurance Commission, Mr Sunday Thomas at the event, is the Deputy Commissioner for Insurance, National Insurance Commission,,
