The Ag. Insurance coverage Feeer, Mr Michael Kofi Andoh, has urged insurance coverage firms to prioritise customer support as it’s the lifeblood of any profitable enterprise.
Based on Mr Andoh, ensuring the satisfaction of customizeders and companions wouldn’t solely drive income but additionally foster belief and loyalty throughout the insurance coverage and reinsurance area.
He made these remarks on the Ghana Reinsurance PLC’s fifteenth Cedants’ Awards evening held below the theme: ‘Rising together, honouring partnerships and excellence in insurance coverage.’
“The insurance coverage business has grown over time with many individuals providing and demanding completely different service. It’s, due to this fact vital to not take customer support and satisfaction for granted,” he stated.
“Whereas worth creation, a talented crew and employees, innovation, tools, amenities and assets, are undoubtedly essential components of a profitable enterprise, it is very important recognise that every one these elements finally revolve across the buyer,” he added.
He reiterated the significance of partnerships which permits companies to share experience, open entry to new markets, improve innovation and lower prices.
“Within the insurance coverage business, strategic alliances and partnerships have been deployed to interrupt new grounds within the areas of distribution, product innovation, premium fee, strategic company social accountability, amongst others,” he said.
The Nationwide Insurance coverage Commission (NIC), he stated, had additionally taken steps to advertise development and growth of the business by presently working with some halfners, together with the Monetary Sector Deepening (FSD) Africa and america Company for International Growth (USAID) on varied initiatives.
“An enormous potential for the expansion of the business lies in reaching out to the micro, small and medium
enterprises that are largely excluded from the insurance coverage market,” he said.
The Ag. Managing Director at Ghana Re, Mrs Monica Amissah, stated over time, cedants have performed a pivotal position in driving the expansion of Ghana Re, thereby contributing to the development of the whole insurance coverage business.
“Collectively, we’ve tackled challenges, seized alternatives and upheld the ideas of danger administration, making certain resilience and stability throughout the business,” she famous.
She congratulated the award winners for his or her contributions to the expansion of Ghana Re, and the insurance coverage business as a complete whereas calling on different firms to continue working arduous, be progressive and type partnerships in direction of development.
A number of firms walked away with awards and recognition with the Cedant of the 12 months (Normal Enterprise) going to SIC Insurance coverage Plc, whereas Phoenix Insurance coverage Co. Ghana was the primary runner up with Sunu Assurances Ghana settling for the second runner up award in that class.
For the Cedant of the 12 months (Life Enterprise), Metropolitan Life Insurance coverage Ghana Ltd. received the topmost prize whereas Previous Mutual Life Assurance Firm Ghana and SIC Life Insurance coverage Ltd. settled for the second and third positions, respectively.
BY TIMES REPORTER
