The Group Chief Executive Officer of Old Mutual Ghana, Tavona Biza has underscored the importance of insurance education towards improving insurance coverage and penetration.
According to him, the insurance sector remains a critical growth area of every developing economy and therefore needs the requisite advocacy and its benefits to both the formal and informal sector.
Addressing journalists after the launch of the 10th-year anniversary campaign of Old Mutual Ghana, Mr Biza said the company has designed special products which aims to increase insurance coverage among Ghanaians.
“Insurance has proven to be a vital component of our daily lives and it is importance to increase coverage by offering products tailormade for our customers and the benefits associated with them.
Also, when we look at the growth and sustainability that we have been able to manage for our staff, customers across the last 10 years, it’s been tremendous and I must say we have provided reliefs through insurance to about 200,000 customers in Ghana”.
He continued, “We seek to continue establishing and maintaining strong relationships with our key stakeholders while adapting to our environment over the years has seen the company successfully grow and gain a foothold in the Ghanaian market.”
The Marketing and Customer Experience Executive at Old Mutual Ghana, Rita Boateng, advised customers to seek the requisite understanding of insurance policies to prevent mishaps in the case where they are seeking to file for insurance claims.
“Financial literacy in terms of insurance is still quite low below 2 percent in Ghana and sometimes we realise that although people buy insurance, they may tend to forget there are obligations attached to policies which require them to set aside some funds to honor these obligations and so its very importance that we intensify insurance education,” she noted.
Meanwhile, Old Mutual Ghana, a premier insurance company, launched its 10th anniversary celebrations on April 26, 2023 at The Fitzgerald in Cantonments, Accra, Ghana.
Old Mutual Ghana, which officially turns 10 in October this year, kick-started the celebrations early with a 360 marketing campaign to highlight key milestones and successes the business has achieved over the past 10 years.
Given the anniversary celebration’s significance, it will be a year-long campaign with the aim of driving major stakeholder engagements.