Insurance World

SIC to sell insurance via POS

Ghana’s largest insurance firm, SIC Insurance Company Limited, will soon begin selling and paying insurance claims to its customers via a Point of Sale Device (POS).

The move which is likely to begin from October is expected to bring more convenience as well as improve insurance penetration.

This means sales attendants will be available to move to every location to sell insurance policies.

The Managing Director of SIC Insurance Company Limited, Stephen Oduro observed that the innovation will help improve insurance penetration in Ghana which currently stands at 2 per cent.

He added that the company is currently sensitizing staff to abreast themselves with the innovation.

“The prototype is there. We are now getting all the departments involved. Any new development elicits some apprehension. People are afraid of change because they are used to a certain way of doing business,” he stated.

“This way, we are going to speed up processes including claims. We are going to pilot it with the purchase of insurance. We will go down into claims because these are the two most important things,” he added.

The initial pilot will exempt corporate insurance but will incorporate all third party and comprehensive insurance policies.

The innovation is expected to solidify the company’s position in the insurance sector.

SIC Insurance Company Limited recently bagged five awards by winning General Insurance Company of the Year, Brand of the Year in Insurance, Indigenous Company, CSR Leadership, and ICT Leadership award at the maiden edition of the Ghana Insurance Awards.


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