Keypoints
- The Almond Insurance Industry Awards has successfully driven insurance companies to promptly update their operational records with regulatory bodies.
- High-level media briefings held on Tuesday in Lagos announced that the fourth edition of the ceremony will take place on November 6.
- Regulatory data frameworks show the panel of judges relies heavily on official metrics supplied directly by NAICOM.
- Operational timelines confirmed that nominations for the 12 categories officially opened on Tuesday and will close on June 30.
- Institutional modifications introduced a new Insurtech Company of the Year award category to recognize the growing influence of digital innovation.
Main Story
Ms Kesiena Ughwode, Chief Executive Officer of Almond Productions Ltd., says the Almond Insurance Industry Awards has improved prompt operational data updates among insurers.
Ughwode, convener of the awards, spoke during a news conference in Lagos on Tuesday ahead of the fourth edition ceremony. She said insurance firms now appreciate the importance of updating records promptly to avoid possible negative consequences during assessments and industry evaluations.
According to her, the awards panel relies heavily on operational data supplied by the National Insurance Commission and participating companies.
To evaluate intermediate structural changes, the pressure of competitive public auditing has forced underwriters to maintain clean, verified corporate registries.
She said the awards had compelled insurers to remain proactive and ensure their records are regularly updated with the commission. She announced that the fourth edition would hold on Nov. 6 at The Stable Event Place, Surulere, Lagos.
She said the initiative was established to celebrate the resilience, innovation and achievements of professionals across Nigeria’s insurance value chain, where many practitioners continue breaking barriers in spite of prevailing economic and social challenges.
Furthermore, administrative boards have overhauled their digital access portals following direct critiques from end-users. She said the awards website had been restructured and simplified to ensure seamless nominations and voting by stakeholders, noting that the redesign followed feedback received after previous editions of the awards programme.
Ughwode disclosed that nominations for the 2026 edition officially opened on Tuesday and would close on June 30, urging stakeholders to visit the awards portal early and nominate deserving candidates before the deadline expires.
The Issues
- Compelling underwriting firms to update their operational portfolios promptly before major industry evaluations.
- Eliminating last-minute rushes by strictly enforcing fixed submission deadlines for corporate voting and nomination portals.
- Navigating an incoming recapitalization exercise and legislative adjustments stemming from new insurance industry reform acts.
What’s Being Said
- Outlining how the judging criteria has heightened regulatory awareness among corporate executives, Almond Productions CEO Ms Kesiena Ughwode stated: “Insurance companies now operate with consciousness of the importance of updating their data promptly. The awards have put them on their toes because judges rely on NAICOM and company data during assessments.”
- Announcing a strict operational stance regarding late administrative entry submissions, Ughwode maintained: “All nominations must be submitted exclusively through the official awards portal. We noticed people often wait until the final moments before nominating or voting for favourites. Sometimes, requests for extension come in, but we have resolved not to extend deadlines again.”
- Highlighting the deep industry transitions coinciding with the upcoming ceremony, Mr Ogala Osoka, Chairman of the Awards Panel of Judges, noted that the theme ‘Reemergence’ symbolized the start of the Nigerian Insurance Industry Reform Act implementation and recapitalisation exercise.
- Assessing the long-term impact of these structural interventions on the national financial sector, Osoka declared: “Both initiatives are expected to usher in a new era for Nigeria’s insurance industry.”
- Explaining the strategic evolution of the internal verification design, Prof Olajide Fadun of the University of Lagos stated: “The 2026 awards will retain its streamlined structure to meet international standards of similar awards.”
- Reviewing the historical expansion of community engagement with the program, Mrs Jean Anishere (SAN), a member of the jury, noted that “public participation had improved significantly over the years” and that “stakeholders had continued responding positively to the awards initiative and nomination process.”
What’s Next
- Stakeholders across the insurance value chain will submit their entries exclusively through the official portal before the June 30 deadline.
- The panel of judges will review the operational data supplied by NAICOM to begin grading candidates across the 12 categories.
- Financial technology operators will compete under the newly introduced Insurtech Company of the Year category ahead of the November 6 gala.
Bottom Line
Leveraging data from NAICOM to keep insurance firms on their toes, the fourth edition of the Almond Insurance Industry Awards has officially opened its streamlined 2026 nomination portal until June 30 ahead of its November 6 ceremony, introducing a new Insurtech category to capture sector reforms and recapitalization exercises.
