The Graphic Communications Group Limited (GCGL) and the insurance industry, led by the National Insurance Commission has resolved to collaborate to deepen insurance awareness in the country.
This has become necessary due to the low insurance penetration rate which stands at two per cent, despite the increasing growth and uptake of insurance among Ghanaians.
The resolve to partner was the outcome of a meeting between the Commissioner of Insurance, Dr Justice Ofori and a delegation from the GCGL.
The GCGL delegation was led by the Director of Marketing, Franklin Sowah and Theophilus Yartey, Deputy Editor, Daily Graphic.
The Commissioner of Insurance, Dr Justice Ofori was excited about the initiative mooted by the leading newspaper in the country and enumerated a number of areas that were of utmost importance for the growth of the industry.
He bemoaned the situation where the protection of lives and property were taken for granted by the same people who would be beneficiaries of insurance benefits and claims.
Dr Ofori attributed the situation to inadequate public education, hence the need for such a collaboration.
He mentioned the digitisation of the industry’s operations as key for the progress of the industry.
Dr Ofori reiterated the need to take seriously the types of insurance policies which have been made compulsory per the Insurance Act 2021 (Act 1061) as these typically involve innocent third parties.
These policies include public liability, professional indemnity, marine and commercial property insurance.
“When people understand what they are signing on to, it means they appreciate its benefits and this can only be possible through collaborative efforts in public education between the media and the insurance industry”, he stated.
Mr Sowah used the opportunity to inform the commissioner of an upcoming insurance fair before the end of the second quarter of the year.
He also called on Dr Ofori to use his high office to encourage insurance entities to participate in the fair among other visible communication plans outlined towards the awareness creation project.
“The Graphic Communications Group Ltd is a leading brand in the print media and channelling its efforts in insurance education will go a long way to increase the insurance uptake which currently stands at 44.6 per cent,” he stated.