GIA launches radio program to boost insurance penetration

GIA launches radio program to boost insurance penetration
Source: Ghana | Myjoyonline.com | Karen Doodo | Joy Business
Date: 26-08-2019 Time: 09:08:23:am
NIC Deputy Commissioner, Michael Kofi Andoh

The Ghana Insurers Association (GIA) has introduced The Drivetime with Insurers' program, a radio program designed to raise awareness on the insurance sector through discussion on various topics on insurance.

The campaign which is spearheaded by the Association and supported by the National Insurance Commission (NIC) is targeted at improving the insurance penetration rate from 2% to 6%.

Present at the launch was the NIC Deputy Commissioner, Michael Kofi Andoh, who applauded the association for the initiative.

“The is a laudable idea and a compliment to the National Insurance Commission’s effort to improve the insurance penetration rate. We are currently working on marine insurance and meeting with the necessary stakeholders to ensure that we boost policies in that area.

“We will also concentrate on the agriculture sector to provide more for the sector as one of the biggest economies in the sector," he added.

The radio program which will run for thirteen weeks will be aired on selected radio stations across the country.

Chairman of the Drivetime committee Mawuli Zogbenu explained that the radio program will help dispel negative notions and perceptions about insurers.

"This show is to allow all of us to know our rights and also to know what and what not to insure. It will also inform them of where to turn to in case of any uncertainty in making a claim," he explained.

President of the Association of the Ghana Insurers Association stressed the importance in the country as a tool for development and blamed the low level of insurance penetration on low education.

She revealed that motor claims on insurance on a daily basis is about ¢1.6 million and annually, ¢584 million.

She was optimistic that the Drivetime will boost the required education.

“Drive time with insurers I believe will not totally eradicate the problem of poor education, but will help improve it and hence boost insurance penetration.