President of the Chartered Insurance Institute of Ghana, (CIIG), Rev. Asante Marfo – Ahenkora has admonished its members to adhere to the basic principles guarding their profession to ensure the sustainability of their companies.
He indicated the various companies should at all times employ professionals to run their industry to prevent any form of risk.
Rev. Marfo – Ahenkora said, “The crises in our country system should be a wake-up call to us that we must do the right thing and the professional thing or risk sending our companies into bankruptcy.”
He was speaking today at the 2019 Educational Conference and Annual General Meeting organized at Rock City Hotel in Kwahu – Nkwatia with the theme: Improving Professional Insurance Practice; Back to Basics, which commenced from 18th through to 21st September 2019.
Touching on the major challenges, he noted, “Basically for the industry, what we’re looking at now is to take a cue from what is happening in the Banking industry and improve upon whatever we are doing. We don’t want that to be happening to Insurance, so we’re checking ourselves to see whether there are loopholes anywhere and resolve them before something wrong happens.”
The immediate reasons that account for the low patronage of Insurance companies he said are issues of low income, public education which is very low among others.
He added, “… we also need to make sure that the little claims that we get, we speedily and rightfully execute them so that we can win the trust of the public. Because a satisfied customer would want to come back but when the customers feel that things are wrong they go out there and tell people Insurance is bad. And so we get to lose people who are prospective clients as well…”
The occasion was used to launch the CIIG 2019 awards scheme which is the maiden edition. The Chairperson for the awards scheme, Mrs. Lydia L. Bawa on her part noted, “…we want to acknowledge and recognize people who have contributed to the growth and development of our industry and we want to do it ourselves…”