Ghanaians need more education about insurance – MD, Hollard Insurance

Managing Director (MD) of Hollard Insurance, Daniel Boi Addo has emphasized that Ghanaians need to be educated more about insurance companies and their policies.

Talking about how he sees the future for insurance companies, he stated that, “We haven’t really started. Only 30% of Ghanaians have an insurance policy and this includes all sorts of very micro products so Ghanaians need more education about insurance”.

According to him, it is important for insurance companies to give people a reason to trust what they are selling.

He told Rev Erskine on Y 107.9 FM’s Y Leaderboard Series, “We must give them a reason to trust what we’re selling. A lot of our problems is just because people don’t trust us so with more education, we can make them more comfortable to buy insurance projects and also give them a reason to trust what we’re selling”.

He believes that with most of the upcoming apps, if we give ourselves 5 years from today, “Those apps can sell insurance on a very broad basis and we won’t recognize the face of insurance.”

The MD emphasized that the future of insurance in Ghana is extremely bright and all we need to do is to keep going.

“Education is prime and it is important we give people a reason to take up insurance because it can be a lifesaver and for anyone who has made a claim before, you know what it means when the cheque comes at that time in your life” he added.