Awareness Session on the National Insurance Claims Database, 07 September 2021

The Honourable Mahen Kumar Seeruttun highlighted in his keynote message that the awareness session on the NICD “reflects our common vision to create a progressive and dynamic insurance industry in Mauritius. An industry in which all of us have an important role to play in service to the nation”. Commenting on the motor insurance segment, the Honourable Minister of Financial Services and Good Governance stated that the Government is prioritising the implementation of the Bonus-Malus System for the insurance sector and reiterated the commitment of Government to “create such a market place that offers fair and reasonable priced policies to the people”.

Mr Mardayah Kona Yerukunondu, the Chairperson of the FSC, underlined in his message that the FSC has taken decisive steps to act coherently with the Government’s policy to digitise the financial services sector and encourage innovation to address enduring issues in the insurance sector. “The Bonus Malus System will be a premier in the history of the insurance sector in Mauritius. With the collaboration of all insurers, we will soon have a system which balances the rights of all parties” and “as the regulator and supervisor for the insurance business, the FSC will keep a watchful eye on the insurance market”, he said.

Mr Dhanesswurnath Thakoor, the Chief Executive of the FSC gave an overview of the salient features of the NICD and explained that it will be repository for all motor insurance claims data. The system will also have the capacity to decipher and collate motor vehicle insurance claims. “The FSC will design, host and administer the NICD platform. As a new system that we are building, it is of utmost importance that we rethink, re-engineer areas that require improvement and now leverage on technology to bring efficiency in the claims management process”, he underlined.

It was also announced that a Steering Committee comprising members of the insurers’ association, members of some insurance companies, the regulator, members of the Ministry as well as representatives of the National Land Transport Authority will be set up to work on specifications and rules governing the NICD.

The event was also marked by the launching of a short video clip on the salient features of the NICD by the Honourable Mahen Kumar Seeruttun.