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Chartered Insurance Institute of Ghana equips its members to deal with COVID-19

BY: Graphic Business
Rev. Asante Marfo-Ahenkora, the president of CIIG
Rev. Asante Marfo-Ahenkora, the president of CIIG

The Chartered Insurance Institute of Ghana (CIIG) has held its first webinar on insurance-business continuity and professional development to help members answer insurance industry-related questions surrounding the COVID-19 disease.

The webinar themed “The Impact of COVID-19 on the Insurance Industry of Ghana; Products, Productivity & Profitability” presented an opportunity for organisations to find ways to adapt to the changes that the COVID-19 pandemic had introduced.

The President of CIIG, Rev. Asante Marfo-Ahenkora, in his opening remarks said the Institute had planned to organise more of such Zoom webinars to develop the professional competence of members even during these times of the pandemic.

He explained that the COVID-19 pandemic had brought up many questions which insurers needed answers to and that he believed the lecture and discussions during the webinar would help the professionals to arrive at those answers.

Adoption of technology
A seasoned Insurance and Marketing professional, and Lead Consultant of MGA Consulting Gh. Ltd., Mr Michael Abbiw, said there was the need for insurers to speed up their adoption of technology to make it possible for all insurance processes from sales, through underwriting to claims processing to be handled online without the need for face-to-face interactions.

He urged the professionals to consider the introduction of new insurance products onto the market to help address the risks posed by COVID-19 and other similar pandemics.

He gave an assurance that the insurance industry was poised and ready to serve better during this period.

Participation

A total of 176 insurance professionals participated in the webinar and the response from them after the programme showed that they really appreciated the innovation by the leadership of the CIIG in helping them to continue with their professional development online.

The CIIG is the professional body of the insurance industry and has membership comprising insurers, brokers, reinsurers, loss adjustors, surveyors as well as the regulator National Insurance Commission (NIC).