Insurance agents build capacity for efficient performance

Business News of Tuesday, 19 December 2017

Source: ghananewsagency.org

2017-12-19

Participants discussed the role of the agents in insurance penetration and risk management

A two-day training workshop to build the capacity of insurance agents for efficient performance, to increase insurance penetration has been held at Fumesua in the Ejisu-Juaben Municipality.

It was organized jointly by the Insurance Awareness Coordinators Group (IACP), Ghana Insurers Association (GIA), Ghana Insurance Brokers Association (GIBA), National Insurance Commission (NIC) and Ghana Insurance Agents Association.

The programme, sponsored by the German Development Cooperation (GIZ) brought together insurance agents from Ashanti and the Brong-Ahafo Regions.

It provided the platform to discuss the role of the agents in insurance penetration and risk management.

Mr. Wilson Quartey Tei, the Chairman of IACG, said they needed to strengthen and intensify their efforts to meet the needs of the market.

For this to happen – to drive the growth of the insurance business, it was important for the agents to understand the pulse and concerns of the market.

He said it was against this background that capacity building had become urgent and “a must-do-exercise” to enhance product development, delivery channels and sales as well as customer satisfaction.

Mr. Tei expressed discomfort with the low insurance penetration in the country and said that needed to radically change.

A research conducted by the NIC and the GIZ show that there is inadequate knowledge about insurance.

Mr. Tei said he was confident that with increased public education, the situation would improve.

He encouraged the insurance agents to do more to get more people to take insurance policies.

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