Business News Sat, 10 Nov 2018

NIC to launch electronic motor insurance database

The National Insurance Commission is to launch an electronic motor insurance database to deal with fake motor insurance stickers in the country.

The move forms part of measures to boost confidence in the insurance Industry and to deal with the prevalence of fraudulent insurance company stickers in the market.

Deputy Commissioner Michael Andoh Kofi said this during the rebranding ceremony of Equity to Sunu Assurance in Accra.

The electronic motor insurance database is expected to be implemented in early 2019 for all motor insurance products in the country.

The electronic platform will assist the regulator monitor and scan the various motor insurance policies in the country as well as address the challenge of non-claim paying insurance companies.

Mr Andoh said, “This platform will help the security and other relevant agencies to check the authenticity of motor insurance stickers.

The NIC is also considering other possible measures to increase [insurance] penetration.”

Sunu Assurance

Sunu Assurance is a member of the Sunu Group operating in Africa for the past ten years.

Sunu Assurance Ghana is planning to introduce more initiatives to increase its market share in Ghana’s insurance industry.

Source: Myjoyonline.com