Provident Insurance Pays GH¢394,366 Claim

Provident Insurance Company (PIC) has paid an amount of GH¢394,366 to Continental African Trading Agency Limited (CATA) in Accra.

This is after the risk department of the company had concluded its assessment of last year floods which affected stocks and electrical appliances in the warehouse. The Odaw River burst its banks and flooded the premises of business along the stretch.

Mr. Daniel Quansah, Claims Manager of PIC, presenting the claims payment said the company was totally committed to achieving a stress-free claims process in making the company brand a preferred choice for patronage amongst other insurers in the country.

“This is manifested in our keenness to improving claims processing and payment, emphasising the adage that the best form of advertisement for any serious insurance company is claims payment,” he explained.
He further said the company is committed to fulfilling its obligations towards policyholders as timely as possible.

Meanwhile, Mr. Patrick Agyekum, Managing Director, Provident Insurance Company, said by close of last year the company had paid US$2.5million in claim settlement.

He said the company will continually explore ways of delighting its customers in ensuring that it is considered the preferred choice for underwriting business among insurance companies in the country.
Mr. Agyekum enjoined all those who were compensated for any claim to spread the news of the company’s seamless and prompt claims payment capacity.

Mr. Stephen Abrokwa, Director of Finance, CATA, receiving the claim indicated the timeliness that the company attached to the claim.

He therefore advised the general public to take insurance as a tool for mitigating unforeseen events. Those present at the presentation included Mr. Matthew Aidoo, Chief Finance Officer and Mrs. Georgia Tawiah Quarshie, both of Provident Insurance.

Source: B&FT