Ghana Insuarance Brokers poised to boost business operations

The 5th annual conference and exhibition of the Ghana Insurance Brokers Association (GIBA) ended in Takoradi with a call on players in the Insurance industry to switch on to digital insurance and make their businesses relevant in a competitive globalized economy.

The move is to fast-track Insurance product innovation and improve customer engagement through the digitization of sales and service channels to drive operational efficiency.

The Chairman in charge of Education and Publicity Committee, of the conference, Asante Marfo-Ahenkora made these remarks at the just ended GIBA conference in Takoradi in the Western Region.

The four-day event, which brought together 180 delegates form the Insurance industry in and outside Ghana, was on the theme, "Embracing Digital Transformation and Innovation in Insurance Business".

Mr. Marfo-Ahenkora said the emergence of communication platforms such as Amazon, Whatsapp, Facebook, Uber among others, were digging in and taking the market form the traditional technology companies to a digitized world.

Mr. Marfo-Ahenkora remarked that "the government of Ghana which used to be a bureaucratic one, is finding ways to remove same by deploying digitization processes like the National Digital and Property Addressing system (NDPAS) the National Identification System (NIS), the automation of the paperless eyetem of the country's Ports, the interroperability of payment systems in the financial sector, the DVLA and Land Administration.

Most Insurance industry players, he observed, were yet to give digitization in their operations, any serious thought and put in place strategic plans and processes to be digitally-compliant and not be left behind and become irrelevant"

Mr. Marfo-Ahenkora said it was against this backdrop that the conference had brought experts within and outside Ghana to share experiences and expertize on the subject to get GIBA respond appropriately.

He said "digital transformation had become the key driver which underlies modern business processes without which application, no business will survive our current ways of life and of doing business"

An open forum discussed "Self Regulation and Ethics in the Insurance Industry which engaged participants for consensus building and joint decisions on issues of mutual interest for the progress of the industry.