A Deputy Minister of Finance, Abena Osei-Asare, has urged insurance companies to adopt business models that embrace technology for service delivery.
She said technology was adding value to insurance business, adding that digital platforms would make the process of doing insurance faster and much less cumbersome.
Mrs Osei-Asare made the call at the inauguration of a new head office building for Activa International Insurance Company (Ghana Ltd) in Accra.
Known as the Activa Square, the building — which is the first phase of a three-phase complex — consists of a basement for parking, a ground floor and three other floors including the rooftop level for entertainment.
Mrs Osei-Asare entreated insurance companies to join forces to intensify public awareness campaigns on the importance of insurance.
The deputy minister, who was the guest of honour for the occasion, further urged the companies to partner the regulator, the National Insurance Commission, to ensure standardisation across the sector.
She commended Activa International Insurance Company for the project.
Mrs Osei-Asare said it was important for insurance companies to have complementary hardware and software to effectively address concerns of the public.
Such software, she said, must be anchored on people, partnership and technology which must ensure effective communication during sales and claims payment time, and also promote professionalism in handling clients.
The Chairman of Activa Insurance Group, Richard Lowe, expressed appreciation to the company’s clients, saying without them the company would be non-existent.
The Managing Director of Activa Insurance Ghana, Benjamin Yamoah, said the new head office signified the fruit of Activa’s hard work over the past 13 years that it had operated in the country.
He said work on the building started in September 2020, and though its progress was heavily impacted by the COVID-19 pandemic, the building was handed over to Activa in July 2022.
Mr Yamoah expressed gratitude to the contractor, Key Contracting Company Ltd; the consultant, DC&M; the Project Manager, as well as the local building committee for the work done.
Also present was the Minister of Trade and Industry, Alan Kyerematen; the Head of Finance of the National Insurance Commission, Dr Mahama Wayo, and the President of the Ghana Insurers Association, Seth Aklasi.
