Sub-regional insurance companies converge amid crisis in public trust

April 24, 2018

By Kebba Jeffang

[caption id="attachment_46912" align="alignleft" width="1000"] The Gambia’s vice president, Fatoumatta Jallow Tambajang[/caption]

The West African Insurance Companies Association (WAICA) has opened its 40^th annual general meeting and education conference in Banjul on Monday discussing the ways of promoting public trust and confidence in the insurance sector.

The president of the association, Makaireh Badjan, said the main challenge confronting the industry in the sub-region is the lowering of public trust and confidence in their services.

“We need trust and confidence in the insurance sector. Hence we should jointly endeavor as insurance players to enhance public trust and dispel all negative perceptions of insurance,” he said.

Badjan added that they need joint collaboration of stakeholders across the sub-region such as the providers, regulators, public and institutions.

The Gambia’s vice president, Fatoumatta Jallow Tambajang, said public trust is the ingredient to every discipline.

“Public trust and confidence are crucial to business if you are to improve insurance penetration level in the sub region and in the world at large,” she said.

WAICA membership covers the five English speaking countries in West Africa namely, The Gambia, Ghana, Sierra Leone, Liberia and Nigeria.