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Business News of Saturday, 11 July 2020

Source: thebftonline.com

Chartered Insurance Institute of Ghana equips members to deal with coronavirus

The Chartered Insurance Institute of Ghana (CIIG) has held its first webinar on insurance-business continuity and professional development to help members answer insurance industry-related questions surrounding COVID-19.

The webinar, themed ‘The Impact of COVID-19 on the Insurance Industry of Ghana; Products, Productivity & Profitability’, presented an opportunity for organisations to find ways of adapting to changes the COVID-19 pandemic has introduced.

In his opening remarks, the President of CIIG, Rev. Asante Marfo-Ahenkora, stated that the Institute plans to organise more of such Zoom webinars in the spirit of developing the professional competence of members, even during these times of pandemic.

He indicated that the COVID-19 pandemic has brought up many questions which insurers need to find answers to, and expressed his belief that the lecture and discussions during the webinar will help the professionals arrive at those answers.

A seasoned Insurance and Marketing professional, and Lead Consultant of MGA Consulting Gh. Ltd., Michael Abbiw made recommendations – key among them being the fact that insurers need to speed-up their adoption of technology to make it possible for all insurance processes, from sales through underwriting to claims processing, to be handled online without the need for face-to-face interactions.

He also admonished the professionals to consider how to introduce new insurance products onto the market which would help address the risks posed by COVID-19 and similar pandemics. He continued by reassuring the public that the Insurance industry is poised and ready to serve them better in these times.

A total of 176 insurance professionals participated in the webinar, and the feedback received from them after the programme showed that they really appreciated the innovation from leadership of the CIIG in helping them continue their professional development online.

The CIIG is the professional body of the insurance industry, and has membership comprising insurers, brokers, reinsurers, loss-adjustors, surveyors as well as the regulator, National Insurance Commission (NIC).

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