Ghana Pays GHC 9.2M in Daily Insurance Claims- Ebenezer Forson Calls for Tech-Driven Reform

Ghana’s insurance industry is under mounting pressure. According to the Financial Stability Review as of December 31, 2024, insurers pay an average of GHC 9.2 million in claims every day. Of this, life insurance companies account for about GHC 4 million daily, while non-life insurers—including SIC Insurance, Priority Insurance Company Ltd, and others—pay approximately GHC 5.2 million.

These figures, confirmed by Accra Street Journal, highlight the scale of payouts straining insurers and underscore why inefficiency, fraud, and poor customer experience in third-party motor claims can no longer be ignored.

For Ebenezer Forson—a Mechanical Engineer by training, Chartered Insurer with the Chartered Insurance Institute of Ghana (CIIG), and Branch Manager of Priority Insurance Company Ltd at Sefwi—the solution lies in bold adoption of technology and innovation. Forson argues that Ghana can borrow lessons from the United Kingdom’s insurance sector to transform third-party claims into a faster, fairer, and more transparent process.

Digital Claims Backbone

Manual paperwork and fragmented systems delay claims and frustrate policyholders. Forson advocates for a centralized digital platform connecting insurers, the Driver and Vehicle Licensing Authority (DVLA), and the Police MTTD. Through mobile apps and USSD solutions, policyholders should be able to report accidents, upload photos, and track claims in real time—similar to the UK’s Motor Insurers’ Bureau.

AI for Damage Assessment

AI image recognition can reduce disputes over vehicle damage by providing quick, objective cost estimates. UK insurers like Aviva and Direct Line already use such tools, significantly speeding up approvals.

Instant Payouts

Claims payouts in Ghana can take weeks or months. Forson calls for mobile money and direct bank integrations to enable instant settlements, and even blockchain-powered smart contracts to automate smaller claims—mirroring UK practices where many claims are resolved within 24 hours.

Integration with Authorities

Real-time data sharing between insurers, DVLA, and Police MTTD could fast-track liability verification. Digitized accident reports and a driver points system, similar to the UK model, would further modernize the process.

Fraud Detection and Transparency

Blockchain-based claims history and AI-driven fraud detection could cut costs by deterring false claims. Customer-facing dashboards and live claim tracking would also restore trust in insurers.

Collaboration and Leadership

Forson urges the National Insurance Commission (NIC) to establish a Third-Party Claims Innovation Taskforce—bringing insurers, regulators, and FinTechs together to standardize digital frameworks and pilot new InsurTech models through regulatory sandboxes.

The Payoff

If these reforms take hold, Ghana could see:

• Claims settled within 48 hours.

• Reduced fraud through AI and blockchain.

• Improved customer trust via transparency.

• Lower premiums from efficiency savings.

“Ghana’s insurance industry has a choice: preserve outdated systems or embrace innovation to rebuild confidence,” Forson notes. “The goal is not just faster claims—it’s restoring trust and making insurance a credible tool for national development.”

References

• Motor Insurers’ Bureau (UK): www.mib.org.uk

• Aviva Insurance UK – AI Claims Processing: Financial Times, 2023

• Direct Line Group – Digital Claims Innovation Report, 2022

• National Insurance Commission (NIC), Ghana: www.nicgh.org

Last Updated on March 9, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

accrastreetjournal.com/