Hollard Ghana says because insurance is meaningless without prompt claims, it has earned an enviable reputation in the industry by virtue of living their philosophy of making an ordinary insurance promise a reality.
According to the company because prompt and hustle free claims management is their trade-mark they do risk-based-underwriting instead of price-based-underwriting. Due to this, they have been able to honour all valid claims without any fear of threats to “our liquidity as a business entity”.
In a statement Hollard Ghana said, “we have been able to extend our claims service to the door-steps of our clients through branch networking. Our four branches namely, Tamale, Kumasi, Tema and Takoradi have the capacity to handle most of our clients’ claims with few exceptions as the case may appear”.
Touching on some innovations, the statement said, the company has adopted to make their clients happy.
It explained that the company has what it termed as “Same-Day-Claim-Payment” or the “Straight-Through-Process” to settle all motor claims up to GH¢2,000.00 within 24 hours provided all documents are submitted.
“The claimant has to complete our accident report form, bring repair estimates, pictures of accident vehicle and add a copy of their driver’s license. You get your cheque within 24 hours”, it said.
Starting in Ghana as Madison Insurance in 1993, Hollard Ghana recapitalised and renamed Metropolitan Insurance Company Limited (MET) in 1997. In 2006, they took the decision to move their focus away from life insurance to other personal and commercial insurance products.
In 2015, the Hollard Group acquired a majority shareholding in the company.
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