The Commissioner of Insurance at the National insurance Commission (NIC), Dr. Justice Ofori has reiterated the importance for the public to have their lives as well as properties insured to safeguard against unforeseen circumstance.
According to him, insuring one’s life or property provides a person with peace of mind and reduces stress during difficult times.
Dr. Ofori made this remark at a stakeholder engagement organized by NIC for key stakeholders such as insurance companies, the Central Regional Motor Traffic and transport department (MTTD), and the media.
The purpose for the meeting was to bring together various stakeholders in the region in a bid to raise awareness about the various types of insurance plans available as well as to clear misconceptions about buying insurances in the country.
Speaking to ALTFM NEWS at the sidelines, Dr. Ofori indicated that stakeholder engagement was part of his outfit’s mandate, and that over the years, NIC has organized such meetings in a bid to educate the general public about the relevance of insurance.
He was hopeful that that through such engagements, people will realize the need for insurance since stakeholders will then also relay the information to the broader public.
“we believe that after the engagement insurance will be easily understood and people will actually appreciate what insurance is all about and on that note, they can actually buy insurances without compulsion.”
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Dr. Ofori therefore urged the general public to as a matter of urgency get their insurance done so that they are protected against risks of various forms.
“Insurance is good and it is a tough cell but you will appreciate the benefit of buying insurance when you experience a loss. Until you experience a loss you will think insurance is just a piece of paper…risk is part of life so knowing that you might not have money at any time to take of risks you need to rely on someone like an insurance company who will take small money from you which is called a premium so that when the unforeseen happens you are covered,” he indicated.
In response to the difficulty in filing claims following an unfortunate incident, Dr. Ofori urged the public to exercise patient when filing claims because insurance companies were obligated to conduct investigations before paying claims to victims.
“When you are making a claim it goes through some processes because the insurance companies need to investigate to make sure that it a genuine claim and sometimes it prolongs the processes….Insurance companies are handling monies that belong to all the policy members and they have to be careful with the management of the funds else they would have to pay claims that they would not have to pay and genuine claims will be left hanging in there.”
He also noted that that victims who believe to have been mistreated could file a complaint with the National Insurance Commission for redress.
He added that, “we have given insurance companies a claims manual that should guide them with timelines on what to do at any time when all documents have been provided and the number of days insurance companies are suppose pay the claim so if someone at any time feels they’ve been mishandled, they have the right to notify the NIC and we will come in to help them.”
Finally, Dr. Ofori also urged insurance companies to be creative in developing insurance plans for their customers.
According to him, insurance companies will be able to identify their client’s real needs through investigations, which will lead to the development of plans that meet those demands.
“My point is they should go from the bottom to the top. Ask the people what they need, identify those needs and design policies that will fit their needs.”
SOURCE: EMMANUELLA AMA GYAMFI/ATLFMNEWS
