Customer service practice and management in Ghana’s insurance space has become a major determinant of insurance coverage and penetration for economic development.
It is the reason the Insurance Brokers Association of Ghana (IBAG) made it topical and the theme for its 9th Annual Educational Conference held in Bolga from March 19-23, 2024.
The Conference which saw some 230 participants drawn from the insurance industry was under the theme: ‘Building a consistent customer service culture; a tool for increasing insurance penetration’.
In his remarks, the Chairman of the Conference, the Ag Commissioner of Insurance, Mr Michael Kofi Andoh stated that the National Insurance Commission (NIC) is in the process of implementing a market conduct supervisory framework to help improve the fair treatment of customers by insurance firms.
The insurance industry regulator, stated that as part of the framework, the NIC would soon issue a directive of conduct of business for insurance institutions.
He said the directive would deal with regulatory requirements on issues such as product requirements and policy holder cancellation rights, provision and disclosure of policy information, claims processing and complaints requirements as well as requirements on the appointment and training of agents.
Speaking in Bolgatanga in the Upper East Region during the opening ceremony, Mr Andoh stressed that the directive would require all insurance companies to develop and publish service level standards on claims and complaints and to display a summary of their claims payment and complaint resolution procedures in every branch, contact and agency office.
He underscored the pivotal role of customer service culture in driving insurance penetration, saying “indeed, building a consistent customer service culture is not merely a desirable trait but an essential tool for expanding the reach of insurance services to previously underserved communities”.
He said to achieve meaningful progress in increasing insurance penetration, companies must adopt a multi-faceted approach that addresses the diverse needs and challenges facing the insurance public.
“This could entail leveraging technology to enhance accessibility, tailoring products to suit needs and preferences, simplifying policies, enhancing transparency and prioritizing customer complaints” he said.
Trust, He added that it was incumbent upon stakeholders in the insurance industry to cultivate a culture of trust, transparency and integrity in interactions with customers towards enhancing their operations.
He stressed that by prioritising the needs of clients and delivering satisfactory service at every touchpoint, it can instil confidence in the value proposition of insurance and foster long-term relationships based on mutual respect and understanding.
In his welcome address, the President of IBAG, Mr Shaibu Ali, said one of the key reasons for low insurance penetration was bad customer service, stressing “in the recently published survey of the Ghana customer service index, the industry took the last position”.
He noted that the industry’s performance in the customer service survey should be an issue of great concern for the players towards changing the status quo to improve the sector.
The President of the Chartered Insurance Institute of Ghana (CIIG), Solomon Lartey, said as a means of weeding out charlatans from the industry, the CIIG was compiling a list of all insurance professionals in the country.
He added “this will enable us to have a database of all professionals as well as fish out non-professionals whose practices and conduct pose serious threat to the very existence of the industry”.
Upper Regional Minister’s advocacy
The Upper East Regional Minister, Stephen Yakubu, who was the Guest Speaker at the conference urged participants to continuously uphold the highest standards of professionalism to build trust and confidence among the public to shape the future of the insurance industry. He said “customers are the life-blood of every business as the happier and confident they are with services, the higher the patronage towards improving the economy”.
On the theme
Various resource persons including the CEO of Customer Service… Mrs Yvonne Ohui MacCarthy, which was moderated by Mr Solomon Lartey, the CIIG President.
Bishop Asante-Marfo Ahenkora, Managing Director of Tri-Star Insurance Brokers, Maame Efua Sackitey-Mensah, Head of Broker Market at Hollard Insurance, Mr Charles Graham-Mensah, Chief Business Development Manager GLICO Gen Insurance and Mr Kofi Ampaw, Managing Director of Alpha Insurance Brokers delved into the subject of customer service during the interactive session of the Young Executives Forum.
The session was moderated by Mawuli Zogbenu, Head of Public Relations of the NIC who also doubled as the official Master of Ceremonies of the Conference.
The CEOs’ / Industry forum had Mrs Stella Jonah, Head of Supervision of the NIC, Mr Ernest Frimpong, CEO of Bedrock Insurance and Ms Ladonna Agyeman-Buahin, a Representative of the Ghana Insurers Association (GIA) and Bishop Asante Marfoh-Ahenkora as presenters / discussants from their various perspectives on customer service. The session was moderated by Ms Shiela Wristberg, CEO of iRisk Insurance Brokers and Mrs Elsy Adadey, CEO of the CIIG.
Exhibitions
Sponsors of the conference also had the opportunity to exhibit their products and services. The Upper East Regional Minister, Hon Stephen Yakubu used the opportunity to visit the stands with the Dignitaries and expressed delight at the products and services offered by these insurance entities.
Corporate Social Responsibilities
As part of the activities outlined for the conference, participants paid visits to Bolga Girls SHS, Bolga SHS, Paga SHS and Navrongo SHS where they used the opportunity to provide some basic education to students and staff of these schools. Among others, IBAG presented items including books, school bags, public address horn speakers, dust bins, etc to these schools.
Other places of interest visited by participants were the Paga Crocodile Pond, Paga Pikwroro Slave Village and the Sirigu Art Village all in the Kassena-Nankana District of the Upper East Region.
