Business News of 2014-03-25

SIC Insurance pays over GH¢ 27 million in claims in 2013

SIC Insurance Company Limited paid over GH¢27 million in claims in the year ending 2013 representing a 4 percent increase compared with that of 2012, which stood at GH¢ 25.9 million.
A rundown of the claims composition paid by the country’s largest underwriting company revealed that Motor Insurance claims recorded the highest figure of GH¢11.8 million, followed by Fire Insurance accounting for GH¢7.9 million, while GH¢5.67 million was paid as claims against Marine and Aviation.
General accident claims recorded GH¢1.87 million.
Commenting on the claims payment during the past year, the company’s Deputy Managing Director (Technical) Mr. Kwei-Mensah Ashidam, said there is no compromise in claims settlement at SIC Insurance adding that the company remains focused in keeping customers resilient whenever the unfortunate happens.
He said the 2013 figure shows a progressive increase in claims settlement within the last four years.
SIC Insurance has also put in place a convenient process to short-circuit the purchase of insurance and claims procedures.
Customers can now log on to SIC’s e-insurance platform online and track their claims processes from the start to the period of final settlement.
Mr. Ashidam stressed that prompt settlement of genuine claims and customer focused services will remain the topmost agenda for the company.
Source: myjoyonline.com
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