GHANA Insurance Association (GIA) has organised a one-day capacity workshop for insurance claim assessors and claim heads in the industry to see how best players could demystify claim process.
In all about fifty participants attended the programme.
In an address the Chairman of Life Insurance Council, Mr. Edward Forkuo-Kyei, described claims in the insurance industry as an important activity.
However, he said over the period it has been mystified with all kinds of misconceptions but was hopeful that the workshop would help the industry achieve its main objective.
“The fact is that claims are a major activity where we in the industry make use of our promises. It is during claims that we can really bring to fruition the promises that we make. That notwithstanding, claims should also be settled within a certain framework and this is to ensure that the company becomes sustainable in the sense that policyholder’s funds will not be depleted because of fraudulent claims,” he urged.
He explained that the workshop was also to share ideas so far as challenges in claims were concerned for the benefit of policyholders in the industry.
And in doing so, Mr. Forkuo-Keyi said it was important for the industry players to recap the importance and process that they needed to go through and objective of the whole operations of the industry.
This, he explained, if not properly done, will see a whole company suffer damage in terms of reputation and may lead to a whole company not being able to do business.
“This is because if you don’t pay claims nobody will want to insure or do business with you, so there must always be a balanced between these two interest holders so far as our business is concerned.”
In a response to a question on the perception in the public that insurance companies cheat on their clients this is what he said: “I think it goes beyond that. It is not a case of insurance companies being cheats, per say, but it’s because partly our inability to educate the public on the essence of insurance that are available and the kind of risk that is inherent and how these things are managed.”
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