Vanguard Assurance has launched the Vanguard Digital Claims Negotiation at a send off ceremony for Dr. Gideon Amenyedor, the Chief Executive Officer of the company.
The send off was to mark the retirement of Dr Amenyedor who has served the company since 2009. Before his appointment, he worked as the Director of Technical Operations at the National Insurance Commission (NIC).
Speaking to the media, Dr. Amenyedor lauded the launch of the Vanguard Digital Claims Negotiation which he said is an advancement in digital claims payment. He said that this new move will facilitate negotiations by allowing clients who live very far away or, cannot make it in person, discuss claims payments using video calls. It also allows Vanguard to read expressions and authenticate the submissions being made by the client.
"What we have launched today is a video call that shows the person,then you can negotiate looking at each other ,you can see the facial expressions whether the person is lying or not the face will show and all that, whether the person is lying. It enables negotiations to work" he stated.
Madam Lariba Bawa, a retired Commissioner of Insurance said that Vanguard Assurance has done a lot in the insurance landscape especially under the supervision of Dr Amenyedor.
In an interview with the media on the minimum capital requirement for insurance companies, Madam Bawa said the requirement is relevant because it will help local companies hold the capacity to under ride any losses and also help them to recapitalize. "Just like we had in the bank, we need to increase the minimum capital to enable
companies grow bigger or even merge" she said.
In 2017, the National Insurance Commission said that the capital requirement for insurance companies was likely to be pegged at ¢50 million.
Deputy Commissioner of Insurance, Michael Andoh assured Ghanaians that the insurance companies will not be affected by the collapse of some banking institutions in the country because they, as insurance companies, rely on recapitalisation.