Dun & Bradstreet (D&B), an international business service company that promotes financial infrastructure and provides credit risk facilities, yesterday held a workshop for insurance providers and financial institutions in Accra.
According to Adebowale Atobatele, General Manager for Dun & Bradstreet Credit Bureau Ltd, the workshop is to educate insurers, banks and lenders on how to create value and address challenges in the sector.
The workshop also seeks to create a robust ecosystem where data is easily accessible to all stakeholders to enable them make informed choices.
The workshop addressed issues on how to deepen market pressure in insurance, how to deal with fraudulent claims and enhance profitability of insurance companies.
In his presentation, Godfred Cudjo, Financial Department, Bank of Ghana expressed gratitude to Dun &Bradstreet for such an initiative, noting that data accessibility is crucial to the work of credit bureaus.
“We want to collaborate with the Police for motor insurance policy and this workshop will open our understanding better in the area,” Joseph Bentor, Head, Marketing and Research of External Relations, National Insurance Commission (NIC), said.
Ibrahim Aminu, African Partner Pool Manager-Invest in Africa called for a robust identification system in Ghana to make it easier for business transactions, he adds that, “a lot of companies struggle to get involved in the Oil and Gas sector because they are not big enough.
Participants from the workshop were drawn from the banks, insurance companies and other stakeholders in the financial sector.
Dun & Bradstreet (D&B) and Invest In Africa (IIA) about a month ago signed a Memorandum of Understanding (MOU) to support small and medium scale enterprises (SMEs) to make them investor ready through credit referencing.
By Pamela Ofori-Boateng