GAB Health Insurance Company Ltd (GHIC), a private commercial health insurance company owned by the Ghana Association of Bankers (GAB), settled 97 per cent of all insurance claims filed by its clients in the first half of the year. 

This represents a three per cent growth from the previous year’s performance, which recorded a 94 per cent claims settlement ratio.

In an interview with the Daily Graphic on the sidelines of the company’s maiden broker conference in Accra last Wednesday (July 30), the Managing Director of the company, Joseph Abenney-Yeboah, said prompt payment was not only crucial for any insurance health provider, but also important in helping to achieve universal health coverage.

“If clients go to the hospital and claims are not paid, you are not worth being a health insurance company,” he said, affirming the company’s commitment to placing clients at the centre of the business.

The conference, which was organised by the GHIC and brought together brokers, representatives from various hospitals and banks, was on the theme: “Building bridges for mutual growth, Partnering GHIC for better health outcomes”.  

The conference provided a platform for the participants to understand the philosophies underpinning the services offered by GHIC, its vision and products.

Participants also got the opportunity to ask questions about issues lingering on their minds in the health insurance sector, enhancing collaboration for future growth.

Mr Abenney-Yeboah explained that although the company was mainly owned by the GAB, it had evolved over the past years to now serve a significant number of non-bank clients. 

Strides

Sharing some achievements of the company, the MD said since its establishment, it had enrolled over 21,000 subscribers in just four years, a testament to GHIC’s effective and productive offering and market impact.

“We are evolving and as such, we have built a business that is to improve the holistic well-being of the Ghanaian,” he said, adding, “We are doing this through technology and daily refining our products through feedback from the market, as well as investing in customer experience.”

Mr Abenney-Yeboah called on the brokers to join the GHIC in shaping a future where health insurance would be viewed as a transformative tool for families and communities rather than just a financial product.

“If you are a new company and you are able to do this within four years, it means that you are doing something good in the market and this, indeed, is a testament of the impact that we are making on the market so far and we believe that with our brokers, we can partner and reach bigger populations.

For his part, the Chief Operations Officer of GHIC, Isaac Obeng Yankson, reaffirmed the company’s commitment to redefining health insurance delivery, adding, “The primary focus of health insurance is financial intervention, but we must go beyond that”.

His outfit, he stated, actively facilitated care for clients and coordinated treatments outside the country when necessary.