Dr. Kwabena Situ
The Companion, Assurance at Deloitte Ghana, Dr. Kwabena Situ, has urged all insurance coverage companies to create a complete fraud technique to face up to any assault, notably cybersecurity.
In keeping with him, they have to implement efficient insurance policies that face up to any assault, urging them to reap the benefits of the options offered by Deloitte.
The surroundings [business] is getting complicated each day, so there’s a must have methods in place. There’s additionally the necessity to have a niche evaluation. These are essential insurance policies that insurance coverage companies should embrace, Dr. Situ disclosed at a webinar organised by Deloitte on the subject: “Insurance coverage Fraud Consciousness and Mitigation”.
“Fraud is one thing that makes firms lose numerous cash. Assets that may be channeled into different areas of the companies to develop the companies are being misplaced to fraud. It’s a very topical challenge that companies, particularly insurance coverage companies, should begin coping with. Deloitte is proactive on points pertaining to regulatory and requirements and all that. This can be a canker that we have to take care of…we have to take care of it squarely”.
“In Ghana, 5.0% of income is misplaced to occupational hazards. So, that is one thing that must be handled as a result of assets are going into locations that don’t to go. In terms of fraud, we’re coping with both inner or exterior fraud. With the interior fraud, you’ll find a option to take care of. Probably the most harmful one is the one that isn’t shut by (the exterior fraud) – the cybersecurity”, he added.
For his half, Babajide Okunlola, an Affiliate Director, Forensic, Deloitte Nigeria, mentioned fraudsters of right this moment are utilizing know-how, and as such, insurance coverage firms should begin interested by know-how to curtail the fraud.
“Everyone is frightened about AI, [Artificial Intelligence, but I can tell you that AI has its good side to deal with technology. Secondly, insurance companies must be working together with the regulators to ensure that verification and other important transactions are easily done.
Other panel members were Clayton Thomopoulos, Partner, Forensic, Deloitte Africa; Niia Asafoatse Abbey, Associate Director, Forensic, Deloitte Ghana; andSheriff Issah, Manager, Cyber Risk, Deloitte Ghana.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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