Full Speech: Commissioner of Insurance Speech at the Launch of the Driver Mo 2022 Report

The National Insurance Commission (NIC), Ghana’s statutory agency in charge of insurance regulation, accepted the invitation to launch the Driver Mo 2022 report.

The Driver Mo 2022 report was a Young Africans for Opportunities research report on vehicle insurance experiences in Ghana.

Mr. Charles Ansong Dankyi, Senior Manager in charge of Marketing and External Relations at the National Insurance Commission (NIC), represented the Commissioner of Insurance at the Driver Mo 2022 report launch on January 25th, 2023 in Accra, and delivered the speech below as chairman of the occasion;

Good afternoon invited guests, the organizers of this event the Young Africans For Opportunities (YAFO), members of the High table, representatives of Atlas Network & Kingsley who commissioned a study to examine drivers’ and passengers’ experiences with Motor Vehicle Insurance in Ghana aimed at strengthening and accelerating Motor Vehicle Insurance delivery and policy efforts in facilitating and reducing the structural hurdles in accessing claims after carnages on our roads. I bring you greetings from the Commissioner of Insurance Prof. Dr. Justice Yaw Ofori. In fact, he would have loved to be here with us but due to other equally important national assignment, he has asked me to represent him.

Thank you very much for this Invitation to the Driver Mo Report Launch 2022 and to chair this occasion.

Motor insurance is the largest business portfolio in the non-life insurance sector it contributes about 43% of the total premium as of 2021[1]. The National Insurance Commission, as the insurance regulator ensures that insurers are able to operate and sell motor insurance to the public. The Commission implemented the Motor Insurance Database (MID) to tackle issues that would hinder the progress of motor insurance business. The purpose of the MID is to reduce the number of uninsured vehicles on the road, tackle the menace of fake Motor Insurance, and provide a central source of information for all insured vehicle-related issues. After the implementation of the database, the NIC has recorded significant improvement in some aspects of the motor insurance business. It was reported by the NIC that, Motor insurance portfolio recorded growth rates of 19% and 37% for 2019 and 2020 respectively.

Three years after the implementation of the database, it was imperative to assess the performance of the MID on the insurance industry which is very encouraging even though there are issues of uninsured vehicles on our roads with fake stickers and the need to immediately scan vehicle registration numbers to verify if vehicle has been Insured or Not Insured.  The need for 24/7 call center and the towing services for accident/breakdown vehicles, trucks, and buses on our roads as well the Claims module.

The texting of *920*57# to any phone with the vehicle registration number confirms if vehicle is insured or not insured.

Texting the vehicle registration number to this shortcode (*920*57#) can help both drivers and passengers to know the insurance status of the vehicle they are going to board.

In respect to claims process, what is more important to the public is the Claim Notification i.e to immediately notify the insurance company of a possible claim and to receive a response from the Insurance Company as to confirm if the claim is admissible and the request for the claim supporting documents or repudiate liability, explaining the reasons to the claimant. The other claims procedures such the nature of claim, the review, investigation, inspection if any, negotiation, settlement of claim as well as the performance review are handled by the Insurance Companies in-house.

Where there is a legitimate claim and the insurance company refuses to pay the claim, the claimant must report the Insurance Company to the National Insurance Commission (NIC), which is the insurance regulator for the necessary intervention.

The Public must read the policy document to know what is covered and what is not covered under the policy.

The Public must have confidence in insurance. The NIC pays claims in respect to:

  1. Hit-and-run vehicle 
  2. Underweight driver’s license
  3. Fake Insurance Sticker
  4. Fake driver’s license
  5. Expired driver’s license

Failure to renew driver’s license through the Motor Compensation Fund. Public awareness is of paramount importance to ensure the Compensation Fund claims are well managed. It is for this reason that our gathering together here today is of much great importance. Sensitization and the awareness creation are essential to highlight some of the basic things we must know from the information gathered from the sixteen (16) regions of Ghana.

I, therefore, declare this Report Duly Launched.

Thank you and God bless us all.

Scroll to Top