Insurance products must be well explained to gain trust - Bedrock Insurance CEO
Stakeholders in the insurance industry have urged insurance companies to
build trust by properly explaining insurance policies to clients before
they sell to the public.
The call comes after several complains from policy holders who complain
of being shortchanged by insurance companies whenever there is an
accident and they file for claims.
Speaking to Citi Business News on the sidelines of the official launch
of Bedrock Insurance, the Chief Executive Officer of Bedrock Insurance,
Albert Eyeson-Ghansah pointed out that the challenge must be addressed
to build confidence in the industry.
“Sometimes the agents of insurance companies do not properly explain the
policy to the client,” he said, adding that insurance companies must
ensure that clients are told exactly what a policy entails”.
Mr. Eyeson-Ghansah maintained players in the industry must do more to
the regain confidence of the public by also making prompt claim payment.
Touching on the operations of Bedrock Insurance Company Limited, Mr.
Eyeson-Ghansah stated that it is a wholly owned Ghanaian company
offering the most user-friendly insurance for all clients; making
insurance effortless with same day payments for genuine claims.
“I am much delighted we are launching our insurance company to
Ghanaians. We aim to help people freely pursue their dreams in a world
of uncertainties by making insurance simple so they can protect the
things that mean the world to them. We are investing in the right people
and the right technologies and adopting continuous improvement in our
operations. We’ve spent time to prepare ourselves – implementing a
robust software which goes live in tandem with our launch.”
He added that the company envisages to be the most people-centred risk solutions provider of choice in the insurance market.
“The company is also committed to offering quality indemnity in the area
of retail and personal line clients- those who mostly purchase motor
vehicle and home protection insurances as they form the majority of
their clientele”.
“We offer services to corporate client purchasing commercial lines
insurances such as fire, motor and employee benefit policies as well as
broker driven clients ranging from SME to big organizations and
multinational corporations,” the CEO noted.
Mr Justice Yaw Ofori, the Commissioner of Insurance, lauded Bedrock and
expressed the hope that it would help deepen the confidence in the
insurance industry.
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