The National Insurance Commission (NAICOM) has announced the launch of a new licensing portal designed to streamline the registration and renewal process for insurance agents. This development aims to enhance efficiency, reduce manual intervention, and expedite the licensing procedure.

Effective August 1, 2024, all applications for the registration and renewal of agency licenses must be submitted through the new portal.

The transition to this new platform is expected to simplify the licensing process and improve the overall management of agency licenses.

In a statement released on Wednesday, NAICOM emphasized that any pending applications that were not processed through the old portal should be resubmitted via the new licensing portal. This move is part of NAICOM’s ongoing efforts to modernize and optimize the insurance sector’s administrative functions.

The Commission has advised all registered insurance agents and insurance companies to take note of this update and adhere to the new submission guidelines. The new portal is part of NAICOM’s broader strategy to enhance operational efficiency and reduce bureaucratic delays in the insurance industry.

By implementing this new system, NAICOM aims to create a more streamlined and user-friendly process for licensing insurance agents, ultimately contributing to a more effective regulatory environment.