Justice Ofori says insurance companies in Ghana need to do better due diligence to ensure only legitimate claims are paid.
Justice Ofori, Commissioner of the National Insurance Commission (NIC) has said about 25% of all insurance claims in Ghana are fraudulent.
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Speaking in a media engagement last Monday (19 July), Ofori said, “I don’t have the specifics but in Ghana, we should be looking at about 25% fraudulent claims; it could be inflating claims, staging claims, and sometimes people staging their death to make a life claim.”
He said insurance companies in Ghana need to do better due diligence to ensure only legitimate claims are paid.
“It is the responsibility of insurance companies to do due diligence before embarking on any claims payment. Claims investigations are very important to actually weed out such fraudulent instances. So it is the responsibility of the insurance companies who have to pay these claims to investigate to ensure that they are paying only legitimate claims.”
Globally, fraudulent insurance claims stand at about 40%, while the figure sits at around 25% in Ghana.
