Bedrock Insurance Company Limited, a wholly owned Ghanaian insurance firm has officially launched with the aim of being the most people-centred risk solutions provider in Ghana.
Incorporated under the Companies Code, 1963 (Act 179), and licensed to provide insurance solutions to individuals, families and businesses, Bedrock Insurance’s Chief Executive Officer (CEO) Albert Eyeson-Ghansah said at the launch on Thursday in Accra, “We aim to help people freely pursue their dreams in a world of uncertainties by making insurance simple so they can protect the things that mean the world to them.”
He added, “We are investing in the right people and the right technologies and adopting continuous improvement in our operations. We’ve spent time to prepare ourselves – implementing a robust software which goes live in tandem with our launch.”
Acknowledging that Bedrock Insurance, is in a very fiercely competitive market, Mr Eyeson-Ghansah said defiantly that “we are encouraged that today’s best performing large companies were yesterday’s small start-ups which chose to tread the path of hard work, discipline, professionalism, solid relationships, good corporate governance and above all being genuinely responsive to customer needs and wants.”
He said company has great ambitions “and because we desire to become a great company, we continue to find out what great companies do differently” and that in their search they found out that great companies create value for their customers, solve society’s problems and still make money too.
“We believe that for companies to be financially successful and good, leaders, with every employee, must demonstrate that values matter at every turn. Therefore, at Bedrock, we aim at creating a values-based company built upon our five core values of Integrity, Empathy, Innovation, Efficiency and Enthusiasm,” Mr. Eyeson-Ghansah said.
Commissioner of Insurance, Justice Yaw Ofori, urged management of Bedrock Insurance to practice good corporate governance and maintain high standards to retain the confidence the public still have in the industry.
Insurance is the delivery of promise to the future. The growth of insurance company therefore hinges on policy holder’s trust and confidence. For this reason, I want to entreat Bedrock [Insurance Company Limited] to be mindful of two crucial things; one, under-pricing and secondly fair treatment of customers,” he stated.
He added, the National Insurance Commission looks forward to Bedrock Insurance to make significant contribution to the sector and in particular the Ghanaian economy as a whole.
Fact sheet
Bedrock Insurance Company Limited is a privately wholly- owned Ghanaian company incorporated in Ghana under the Companies Code, 1963 (Act 179), and licensed to provide insurance solutions to individuals, families and businesses.
The Company obtained its operating license from the National Insurance Commission in December 2017, and commenced operations in February 2018.
Bedrock is seen to be the “people’s” insurance company which aims at offering excellent services. They want to establish the most user-friendly insurance front for all their stakeholders, making insurance super simple.
The company optimizes their core insurance and business processes by leveraging their new robust Line of Business (LOB) System to deliver value for their target customers more efficiently and effectively than our competitors.
Bedrock offers risk improvements, claims advisory support (based on relationships with Fire Service Ghana and Ghana Police service) and less recovery as part of their value added services.
Company Vision
Bedrock aspires to be the most people-centred risk solutions provider of choice in Ghana. Having the people at heart, the company aims at achieving its vision by
• Treating customers fairly
• Forging mutually beneficial relationships
• Doing good as they strive to do well
• Working with empathy and integrity
• Providing employees opportunities for growth
Company Mission
The central purpose of the company is to help people freely pursue their dreams in a world of uncertainties. This will be achieved with their innovative and advanced system of operation and well-learned heads of corporation who have expect knowledge in investing assets in the right people and technologies that breeds maximum returns. Bedrock aims at adopting continuous improvements in their operations to ensure they obtain the mission and hit their company’s vision.
Products
Bedrock Insurance suite of products provides protection to our customers against liabilities they might legally be exposed to; as well as loss or damage to property under the following product offerings:
• Motor Insurance Policies
i. Third Party
ii. Third Party, Fire and Theft
iii. Motor Comprehensive
• Fire & Allied Perils Policies
i. Assets All Risks
ii. Home Protection
iii. Commercial Premises Comprehensive
iv. Business interruption
• Engineering Policies
i. Contractors’ All Risks
ii. Erection All Risks
iii. Machinery Breakdown
iv. Electronic Equipment Insurance
• Liabilities
i. Product Liability
ii. Public Liability
iii. Employer’s Liability
iv. Professional Indemnity
v. Directors’ & Officers’ Liability
• Bonds
i. Bid Bonds
ii. Performance Bonds
iii. Mobilization Bonds
iv. Retention Bonds
v. Customs Bonds
• General Accident
i. Professional Indemnity
ii. Fidelity Guarantee
iii. Bankers’ Indemnity
iv. Goods-in-Transit
v. Cash-in-Transit
vi. Personal/Group Accident
• Marine
i. Hull Insurance
ii. Cargo Insurance
Company’s Clientele Base
Bedrock’s customers are segmented into existing and potential clients such as:
1. Retail and Personal line clients – individuals and household buying personalize insurances for motor vehicle and home insurances.
2. Corporate Client – This are corporate organizations usually ranging from medium to large including SMEs purchasing commercial lines insurances such as Fire, Motor , Liability and employee benefit policies through direct contact and sales representatives
3. Broker driven clients – This sector comprise mainly of large corporate entities and multinational corporations purchasing an array of insurance covers through the services of insurance brokers. Some personal line clients are also served through brokers.
Source; Ghana/Starrfm.com.gh/103.5FM
