As part of its corporate social responsibility initiative to demystify insurance, Hollard Ghana has organised a day’s sensitisation exercise for some commercial drivers in Accra on the relevance and processes of insurances such as motor and life insurance. The program was an episode of an ongoing initiative called H.Insured, a streetwise and jargon-free public financial education series organised in partnership with Happy FM.
The event was held at the Kaneshie Lorry Station. It featured the attendance and support of stakeholder groups such as the Ghana Private Road Transport Union, Progressive Transport Owners’ Association (PROTOA), National Road Safety Commission and the National Insurance Commission.
Speaking on the sidelines of the live-streamed event, which was also carried live on Happy FM, the General Manager, Business Development of Hollard Insurance, Frederick Odartey-Lamptey, said motor insurance constitutes a significant portion of the company’s portfolio. Hence, speaking to drivers’ challenges when making related claims made sense.
He observed that “most of the time, they (commercial drivers) don’t understand the required procedures to follow when they make a claim. As a result, they have difficulties securing their pay-out. These difficulties have negatively influenced their perception that insurance companies are only interested in collecting premiums and not paying claims.”
This widely held misperception, among others, has contributed to the low penetration of insurance in the country.
On the essence of the H.Insured initiative, in its fourth season, Frederick said “, Hollard Ghana, with its subsidiaries, Hollard Insurance and Hollard Life Assurance, is bringing insurance to the doorsteps of the people who matter. Through live grassroots events such as these, we are bringing together key stakeholders to get into the details of accessing insurance benefits. We discuss everything from the concept to processes, making claims and understanding policy terms and conditions which correlates with a satisfactory insurance experience.”
The Senior Manager of Marketing and External Relations of the National Insurance Commission (NIC), Charles Ansong Danyi, said various insurance products exist for commercial car operators. While he acknowledged the technicalities of insurance products, he also indicated that they are flexible, noting insurance packages could be specifically tailored to address a need.
He assured existing and prospective insurance policyholders to have confidence that insurance pays for the purpose and intent for which they were taken. Against this background, he said the NIC is committed to supporting policyholders while ensuring that insurance companies are solvent to pay maturity claims and all other legitimate claims.
A retired Commander of the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service, ACP Victor Tandoh (Rtd), also speaking at the public engagement, cautioned commercial drivers against using fraudulent means to access claims from insurance companies.
He said fraudulent claims are why many people fail when they file for claims, given that insurance companies follow systematic processes to verify claims. Therefore, any deceitful acts are likely to be detected.
The retired Police Commander, therefore, implored the drivers to be truthful and honest in their dealings while following the procedure in the insurance claims to be successful.
On his part, the Deputy General Secretary of the Ghana Private Road Transport Union (GPRTU) of the Trades Union Congress, Richard Amankwah, said Life Insurance policies are also critical to the welfare of drivers considering the dangers they face on their journeys. He added that the association had introduced a plan to support its members in case of any unfortunate incident. He commended the efforts of companies that have strategic life insurance policies for drivers, such as Hollard Life.