Develop Innovative Products to Attract More Customers … Former GIA Boss Urges Insurance Companies
Insurance companies must take advantage of the low insurance penetration to develop innovative products to attract more customers, the Former President of the
According to him, the low insurance penetration, which currently stands at one per cent, presented opportunities for insurance companies to expand their reach and services.
Speaking at the Ghana Insurance Fair in
Organised by the
The programme provided opportunity for participant insurance companies to exhibit their programme.
He said enhanced public education would help people understand what the insurance companies sells to them and the terms and conditions it comes with.
The Commissioner of the
He explained that the fair was a step in the right direction however its goal could not be achieved in a single day adding "it's a never-ending process, we can't give ourselves any time limit, and it's something we have to be doing year in, year out."
He urged all Ghanaians to take advantage of such insurance fairs to increase their knowledge on insurance policies as various insurance companies are readily available to better explain their policies and even make recommendations on 'custom tailored' policies.
The commissioner tasked all Ghanaians to check the insurance status of any public transport they board saying that "dial *920*57# to check whether the vehicle you are traveling has a valid insurance. Access to the short code is free."
The Managing Director of
He said
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