SIC pays over GH¢32.5m claims in 2014
The State Insurance Company (SIC) Limited, the nation’s largest non-life Insurance company, paid more than GH¢32.5 million in claims last year.
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The figure represents a 57 per cent increase above what was paid in 2013, which was GH¢20.7 million.
The payments by SIC ensures that parts of premium mobilised are paid to customers who suffer one form of loss or the other.
The Acting Managing Director, Mr Kwei Mensah Ashidam, made these statements during a media interaction with the management of the company.
According to him, the company had paid more than GH¢4.6 million in claims so far this year.
“By this, SIC, the country’s largest risks underwriter, is still leading the way in claims payment in the industry,” he said.
“With the coming into force of the SIC Insurance’s new claims code, the company has put in place a more efficient process to shorten the turnaround time for claims processing. This, the company believes, is the commitment to achieving a stress-free claims process,” he added.
Mr Ashidam stressed the company’s focus on delivering on its core mandate, while looking at new ways of increasing efficiency to improve operations as it secures its position as the leader in the insurance industry.
He said in spite of the challenges that had confronted the company in recent times, SIC Insurance remained resilient and poised to offer quality products and services to its clients through its nationwide locations.
