Dr Justice Ofori, Insurance Commissioner of the National Insurance Commission (NIC), advised insurance companies to be loyal to their customers in order to keep them for their growth.
He said that globally, with Ghana being inclusive, insurers face an increasing challenge in retaining customers due to the similarity of most insurance products.
The Commissioner, in a speech read on his behalf by Mrs Stella Jonah, Senior Manager, Office of the Commissioner, NIC, at the launch of the Allianz Cares promotion of Allianz Insurance in Accra, said that insurers must therefore give prioritizing the maintenance of their clients to gain their trust and confidence to support growth.
The promotion, launched by Allianz Insurance, a subsidiary of the Allianz group, aims to reward the company’s customers who have taken out car, home or personal accident insurance with Allianz brand first aid kits.
It also aims to raise awareness of the importance of first aid, with the promotion from September 17, 2021 to March 31, 2022.
Dr Ofori said: “As we all know, insurance is the delivery of a promise into the future. The growth of an insurance company therefore relies on the trust of customers and to support this growth, the insurer must strive to meet the risk needs of customers through innovative means, one of which is to build loyalty and to build loyalty, by meeting or exceeding the expectations of the insured ”.
He added that: “Building customer loyalty and building customer loyalty is good for any insurance company in terms of the cost of managing accounts and benchmarking business opportunity.”
He noted that the increase in population, rising incomes and the relatively low insurance penetration rate in Ghana meant that huge opportunities for growth existed in the Ghanaian insurance market, claiming that insurers must develop strategies to “break the glass ceiling because we all know insurance is sold.” and not bought ”.
Dr Ofori said the NIC focuses on strengthening creditworthiness, protecting policyholder interests and creating an enabling environment that encourages the development of products that meet customer needs.
He urged insurance companies and intermediaries to ensure strict compliance with the 2021 Insurance Law (Law 1061), solvency and governance frameworks and guidelines and guidelines, to achieve growth.
He praised Allianz for this initiative and said he was optimistic that the promotion would significantly improve public safety and bring long-term returns to the company.
Mr. Darlington Munhuwani, CEO of Allianz Insurance, said that as a customer-centric brand that has been operating in Ghana for over ten years, the voice of customers is key to the characteristics of products and services.
Mr. Munhuwani explained that the COVID-19 pandemic has disrupted lives, both personal and business, and that as a caring brand, it is committed to keeping its customers and communities safe.
He said the promotion was therefore a confirmation of the company’s dedication to the well-being of customers.
“We go through our daily lives knowing that health risks can arise – yet many do not have a first aid kit in their cars and homes. It is time for every Ghanaian to have a first aid kit, and that is our contribution to this campaign. This will help save lives in emergency situations, ”he added.
Ms. Ekua Asemani-Oku, Head of Operations, Allianz Insurance, said building and maintaining a strong customer relationship remains a priority for the company.
She urged customers to take full advantage of this promotion by purchasing an auto, home or personal accident insurance package at one of her offices in Accra, Kumasi, Tema and Takoradi.
Globally, Allianz Insurance is present in more than 70 countries. In Africa, the company is present in 12 countries and supports its clients in 49 markets with 2,908 employees.
In Ghana, Allianz Insurance has been operating since 2009, providing a wide range of products and services including auto, home, marine, cybercrime assets.