Insurance companies in English-speaking West Africa have resolved to improve claims payments by making it simpler, as well as simplify policy documentation and claim processing.
This was one of the resolutions taken on Tuesday at the end of a two-day educational conference of the West African Insurance Companies Association (WAICA) held at a local hotel in Kololi.It was hosted by the Insurance Association of The Gambia (IAG).
The 150 delegates from insurance companies in Nigeria, Liberia, Sierra Leone, Ghana and The Gambia took the resolution, because the existing cumbersome claim processing and delay in getting claims paid has made many people to have little or no confidence in insurance.
Cognizant of this, the governor of the Central Bank of The Gambia had, at the beginning of the forum, advised insurance companies “to do everything possible to bury the seemingly entrenched perception in some quarters that the industry is good at collecting premiums and poor at paying claims”.
source: AllAfrica