Radio Awareness Campaign On Insurance Unveiled

A NATIONAL radio sensitization campaign aimed at ensuring consumer protection in the insurance industry has been launched.

Dubbed the 'National Radio Sensitization for Consumer Protection in Insurance in Ghana,' the project is a collaboration among the German Development Corporation (GIZ), Insurance Awareness Coordinators Group (IACG), National Insurance Commission (NIC) and the Ghana Insurance Brokers' Association (GIBA).

It is expected to run concurrently on 21 radio stations across the country between 19th February and 23rd February, 2018.

Some of the radio stations are Peace FM, Otec FM, Radio Justice, Royal FM and Skyy Power.

The project is among other things, aimed at deepening insurance awareness and penetration, as well as improving consumer protection mechanisms in the area of (customer) care, efficient marketing and handling of the recourse needs of clients in the market.

Speaking at the launch in Accra on Friday, February 16, Chairman of IACG, Wilson Tei, explained that the campaign was intended to bring the knowledge of financial protection to the Ghanaian people.

According to him, “The most effective remedy for financial disruption is insurance.”

However, he could not fathom why with the several financial disruptions in Ghana such as road accidents, floods, fire outbreaks among others, many people are not using insurance products as they should.

He blamed the development on the misconceptions surrounding insurance, saying that in spite of the misconceptions, insurance “remains the most potent means for addressing life’s perils.”

Thus, he pointed out that resource persons for the campaign would strive to address the misconceptions.

Mr Wilson Tei urged the general public to make their concerns known during the campaign for solutions to be found to them.

Commissioner of the NIC, Justice Ofori, expressed the belief that insurance education could help to increase the penetration rate in Ghana, which is reported to be below two percent.

He said the commission was making efforts to achieve a double digit in insurance penetration within the next three years.

BY Melvin Tarlue