(Accra.)The Young African For Opportunities (YAFO) an insurance think tank based in Accra has launched the 2022 exploratory report on motor vehicle insurance experience in Ghana.
The ‘Driver Mo’ report was based on an exclusive research on vehicle insurance advocacy in Ghana which aimed at stopping police harassment of drivers and driving behavioral changes by advocating for better vehicle insurance policies that are market-driven and responsive to the needs of drivers.
In an interview with the Ghana News Agency, Mr Nathaniel Dwamena project lead and founder of the Young African for Opportunities (YAFO) stated that the report would help transform motor vehicle insurance in Ghana.
He noted that there were some determinants which included education, Cost of insurance, level, taste and preferences of customers which generally affected the insurance sector in Ghana stressing that education remained key as far as insurance was concerned.
Mr Dwamena further added that the report detailed the performance of some insurance companies in Ghana, adding that state actors must ensure insurance companies including third parties work in the interest of their clients.
According to the YAFO founder, administrative bottlenecks Cost and illiteracy rates amongst the clients and the insurance companies needed to be addressed so as to ensure insurance policies and packages are well tailored for clients in the country.
Mr Charles Ansong Denkyi Senior Manager , marketing and external relations, National Insurance Commission(NIC) commended YAFO for coming out with the report saying the report would help insurance companies tailor their policies and packages to meet the needs and demands of Ghanaians.
He urged the Young Africans for Opportunity (YAFO) to continue with their research and provide accurate data for Motor vehicle insurance in Ghana .
Representatives from some insurance companies, the Ayawaso West Municipality ,GPRTU and other important agencies converged at the Tomreik hotel at East Legon in Accra for the ‘Driver Mo’report launch.
below is the report