Equity Insurance boss urges general public to embrace health insurance

6 December, 2023

Chief Executive Officer-Equity Insurance, Elton Fredrick Afari, has underscored the need for Ghanaians to embrace health insurance.

He gave this advice during the unveilling of Insurance Hub, a brainchild of Equity Insurance that seeks to bring together all stakeholders in insurance to collaborate. He explained that people should not wait until they are ill before acquiring health insurance products.

“A lot of people call in to register for health insurance only when they have developed a certain illness or have an impending surgery or other health demands. They do not know that they need to be on the insurance before such cases occur,” he said.

He added that Equity Insurance is always open to assisting and educating any individual who is ready to buy an insurance plan.

Addressing delay in payment of claims by some of the insurance companies, Mr. Afari indicated such incidents happen when some insurers, in the quest to prevent insurance fraud, take their time to investigate before claims are released to a customer.

The CEO noted that one of the reasons for developing the Insurance Hub is to address some of these unfortunate incidents.

Director at Ghana Insurance College, Richard Okyere, on his part said data show that insurance enrollment between 2022 and 2023 has seen an increment despite market disturbances such as haircuts and a wider economic downturn. “I am optimistic that there will be a traditional premium growth rate of about 25 percent soon.”

Mr. Okyere further indicated that companies are putting structures and systems in place to optimise investment returns.

By Christabel DANSO ABEAM

SOURCE: thebftonline.com

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