A team of
Nigerian Youths who work under the name – Autogenius have launched a website
named www.myautogenius.com. According to the exponents, the website aims
at simplifying access to vehicle insurance and other types of insurance
policies.
While it also
aims to reduce the number of fake insurance agents in the industry, the
objective is to make insurance to techie as in other developed countries.
However, an insurance
expert says “there is a problem somewhere! First, the website still has the
insurance companies who will hardly pay claims integrated in the business.
Therefore, the registering on autogenius.com will do no paradigm shift as it
claims.”
He added that
“it is not clear how well the National Insurance Commission (NAICOM) has
approved of this website dealings as the launch was not attended by the
Insurance Commissioner, Mr Fola Daniel but represented by the Lagos Office
Head, Mr. Faniran Olusegun. Again, there are speculations that the regulatory
authorities have rejected total endorsement of the website and business because
it is yet to earn the trust of Nigerians.”
Yet another
attendee at the launching ceremony explained that “Nigeria’s broadband
penetration remains less than 10 percent and so when there is a gridlock on the
website in terms of payments online, what will happen to the error on charges?”
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