“Always use a Broker to consume Insurance” – GIBA advises

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Ghanaians have been advised to always use the services of insurance brokers so as to get the best of the industry when dealing with issues of insurance.

According to the Vice President of the Ghana Insurance Brokers Association (GIBA), Shaibu Ali, one cannot get it wrong with an insurance broker because a broker knows every detail about insurance and is in the position to offer the best advice for insurance consumers.

“It is a lot of peace to the consuming public who want to consume insurance through a broker. The reason is that when you go to the insurance company directly they know very well that you don’t know anything about insurance so they’ll take you for granted, but when you go through a broker you get expert advice, and aside that the insurance company knows that whatever he knows about insurance the broker also knows so they won’t cheat you,” Ali stated.

“So always use a broker to consume insurance,” he added.

The vice president of GIBA gave this advise on Saturday in an interview with ghananewsonline.com.gh on the sidelines of a health walk, fitness exercise and health talk organized by the Association as part of its 30th Anniversary celebration.

He took the opportunity to allow highlight some challenges confronting the insurance industry at the moment including the low level of insurance penetration in Ghana; and the mindset of the public when it comes to issues of insurance.

“What this means is that we have fewer people purchasing insurance in the country. And this is as a result of people not having disposable income to patronize insurance. We are hoping that the economy would do well so that people can buy insurance. It would be very good for insurance,” he stated.

“People hesitate in buying insurance with the exception of the compulsory insurances. So we need to move to an era where people would voluntary want to buy insurance for their cars, for their houses, for their family, for their personal lives and so on. We are getting there though, because the middle class is thinking so very fast,” he stated.

He prayed that the mindset of the people would change towards insurance – this change according to him must start from the younger ones up to the top.

He called on the public to purchase insurance products from registered brokers as they would get the requisite information to guide them.

According to Ali the need for an attitudinal change towards insurance in Ghana must be such that people would it necessary to voluntarily buy insurance for their lives and properties.

Source: Jeorge Wilson Kingson || ghananewsonline.com.gh



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