Adamas Life Assurance Company has embarked on an insurance revolution drive in which the company seeks to upscale public awareness about insurance.
As part of the drive, the company, a new insurance firm in the country, is mounting public education platforms across the country to demystify the insurance concept.
It believes such education would enable more Ghanaians to appreciate the need for insurance and use such facilities for the protection of their welfare.
Mrs. Thelma Cynthia Odonkor, Managing Director of Adamas Life Assurance, during an interaction with media practitioners in Accra as part of the company’s encounter with stakeholders, said the company considered its business as a social contract in which it had to support individuals to understand and appreciate insurance for their own interest.
According to her the inadequate understanding of insurance was the reason many individuals, enterprises and property remained uninsured in Ghana.
“We trust that our education project, which we are undertaking with partners in the industry, would lead to an insurance revolution in Ghana,” she stressed.
She cited instances where victims of disasters such as fire and accidents had been unable to get relief because they do not have insurance cover, adding that the situation needed to change.
This campaign aims at ensuring that every Ghanaian and all property are covered,” she said.
According to Mrs. Odonkor life insurance, for instance served as financial security which people must take advantage of and utilise during financial difficulties.
“Insurance helps the individual to plan for the future,” she said.
She described the June 3 fire and flood twin-disaster as unfortunate and traumatic, but noted that the impact on the affected families could have been ameliorated if any of the victims and property destroyed had insurance cover
“A life assurance policy will reduce the impact of losing a family member and breadwinner as the policy would have cushioned the financial impact on the family and protect the educational welfare of children of the victims of the disaster,” she said.
By Times Reporter