General Insurer Quality Insurance Company Limited virtually coloured principal streets of the Ashanti Regional Capital Kumasi when it mounted a road activation to market its flagship people centered products to the public.
The company’s award-winning go-girl insurance policy which provides a tailor-made product targeted at women and QIC’s insurance benefits for the aged; headlined the street activation on the 4th of August, the Founders’ Day Holiday.
Speaking to Ultimate News, Head of Operations with QIC, Sessile Ribeiro explained that even though the company is set out to maximize its profits, its innovations have inculcated a reward system for targeted groups like women and the aged whose risk profiles are documented to be in the minimal.
“As an insurance company; I am set up to pay claims so if I reward these group of people who make less claims, it is imperative and important to note that they will refer more people in that same category unto our books. Our ultimate as an insurance company is profitability and so, the less claims I pay, the happy I am,” he explained.
Under the Go Girl Insurance Product, women who drive, are given a courtesy car to use while they repair or get their accident vehicle replaced.
They also get premium service facilitation at the Driver and Vehicle Licensing Authority for renewal of expired drivers’ Licenses and a 200 cedi fuel card for buying the tailored insurance.
“If the lady gets involved in an accident and the car is being repaired, we will provide you with an alternative car to use. We also have an arrangement with the DVLA premium office where we renew the licenses of women when they expire.” He outlined.
He averred that the reward system which has won Go Girl Insurance an award as the Chartered Insurance Institute of Ghana (CIIG) most innovative insurance product; was one of the only ways the company could differentiate itself from the pack.
He told reporter Ivan Heathcote – Fumador, “In our industry, we cannot compete on rates because they are fixed.”
“Whatever we charge for vehicle insurance is the same for every other company. But we can compete on benefits,” he added.
Policy for the Aged
Sessile Ribeiro further indicated that a similar statistic of low risk of accidents exists with the aged compelling the company to introduce the Golden Age Comprehensive Insurance Policy to reward this demographic who tend to be more cautious on the roads.
For the aged community above fifty-five )55yrs_, Quality Insurance caters for all laboratory tests in cognizance of the various health complications that come with ageing, aside providing a temporal vehicle in the event of an accident.
“We know the health complications that come with that age. Once your laboratory confirms they can come to your house to take the samples, Quality Insurance pays for the cost of moving from the lab to your house. They also get to have a courtesy car,” he outlined.
Claims Payment
Mr. Ribeiro asked the public to dispel the notion that insurance companies shy away from paying claims when they fall due.
He challenged any claimant to ensure that an insurance company is reported to the REGULATOR – National Insurance Commission (NIC) – if a company failed to pay claims fifteen days after signing off a discharge form.
“A discharge is basically a form which says I have agreed on the amount which you said I should pay. Any insurance company that defaults from paying these claims within 15 days, the client reserves the right to report that company to the Insurance Commission and we will be fined,” he contended.
He gave assurances that Quality Insurance is fully capitalized and duly licensed on the back of its strong books to continue offering the wide array of Engineering, Marine and aviation cover, Homeowners, motor and General Accident insurance to the public.
Quality Insurance Company Ltd. has also etched its mark in the insurance industry, offering corporate insurance products to manufacturing and finance industry players as well as shippers and logistics companies.
With a strong elite marketing front offering personalized services at the doorsteps of clients and an array of technology driven underwriting and payment options, the company envisions to attain and sustain heights as the top retail insurer in Ghana.
By: Ivan Heathcote – Fumador.
