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Business News of Thursday, 20 July 2017


Wapic Insurance Ghana holds 'Transport Seminar' for Stakeholders

As part of its unfolding initiatives to transform the insurance landscape in Sub-Saharan Africa, Wapic Insurance (Ghana) Limited hosted a Transport Seminar on road safety, engaging major players in this sector in discussions on how to curb the menace of road incidents in the country.

Themed, “Road Safety – A Shared Responsibility of Players in the Transport Industry,” the strategic seminar touched on pertinent road safety issues and the operations of appropriate quarters in dealing with the escalating rate of motor accidents.With the seminar discussing ways to boost road safety in the country, Wapic has positioned itself at the fore-front of debates and interactions that will not only boost industry capacity but trigger industry development.

The seminar was attended by key players, policy makers and major stakeholders of the Transport Industry including the National Road Safety Commission, the Driver and Vehicle Licensing Authority (DVLA), Parliamentary Select Committee on Road and Transport, CEOs, Transport Managers, amongst others.

The Managing Director of the Company, Mr. Adedayo Arowojolu in his address said the decision to hold the seminar was to bring together various transport stakeholders andanalyze the way forward in achieving accident-free roads. He further added that most claim notifications from motor accidents indicated that 90% of accidents are as a result of indiscipline on the roads.

The guest speaker for the seminar Mrs. May ObiriYeboah, Executive Director of the National Road Safety Commission, in her presentation,stated that about 2% of the country’s Gross Domestic Product (GDP) went into road traffic crashes and called for a media campaign on Road User Discipline to instill a sense of responsibility towards road safety. She alsocalled on road users to endeavour to use good reflectors, speed limiters, warning triangles and seat belts to prevent road accidents and save lives.

During a panel discussion to deliberate on issues, Hon. Samuel Ayeh-Paye, the Chairman of the Parliamentary Select Committee on Road and Transport, mentioned that road safety was a collaborative effort between law makers, road users and other partners. He further added that she would take steps towards ensuring the independence of the Road Quality Assurance department with a view to improving their effectiveness.

Mrs. Mabel Sagoe, the Director of Planning, Monitoring and Evaluation at the Driver and Vehicle Licensing Authority (DVLA) said efforts were underway to get all activities of DVLA unto an automated platform, after which the police and other regulatory bodies would be integrated onto the platform to help prevent illegal driver licensing.

She cautioned the guestsagainst dealing with “middlemen” and encouraged license seekers to report corrupt practices of DVLA officers. She pointed out that sanctions will be meted out to erring officials.

With this seminar, Wapic is fast becoming the rallying point for the industry, offering the needed collaboration that will trigger the growth of the sector.

Wapic Insurance (Ghana) Limited is a leading Insurance company providing solutions covering general and special risks. Wapic’s mission is to transform into a diversified financial service institution, delivering value in a sustainable manner to her customers and stakeholders while playing a lead role in the transformation of the Industry.

Through a diverse portfolio of products and a commitment to providing the best customer experience possible, Wapic Insurance (Ghana) Limited has significantly enhanced its underwriting capacity placing it among the top insurance companies in Ghana by solvency and capital.