Commercial, private drivers do not see any benefits from vehicle insurance

Commercial, private drivers do not see any benefits from vehicle insurance

INSURANCE
The report noted that 82% of Ghanaian drivers often did not have an interest in filing complaints The majority of drivers, both commercial and private, do not see any benefit from insurance companies in Ghana due to perceived unwillingness and refusal of payment of claims.The event, which brought together stakeholders from various sectors took place on Wednesday January 25, 2023 in Accra, to launch the YAFO “Driver MO” report and to find ways of improving the insurance sector.Nathaniel Dwamena, President of YAFO, said that most drivers expressed dissatisfaction with comprehensive insurance as it is expensive compared to income levels.He said the drivers only showed interest in vehicle insurance because it was mandatory and enforced by the police.He said drivers complained about delays in insurance claims and sometimes to the extent…
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YAFO launches 2022 ‘Driver Mo’ report on vehicle insurance

YAFO launches 2022 ‘Driver Mo’ report on vehicle insurance

INSURANCE
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 exclusive research based on vehicle insurance advocacy in Ghana. The report is also aimed at stopping alleged police harassment of drivers, and igniting behavioral driver changes by advocating for better vehicle insurance policies that are market-driven and responsive to the needs of drivers. Mr. Nathaniel Dwamena, YAFO Project Lead, told the Ghana News Agency that the report would help transform the motor vehicle insurance industry in the country. The YAFO Founder identified administrative bottlenecks, illiteracy rates among the clients, and the insurance companies as major hindrances to insurance penetration that needed to be addressed so as to…
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