Vanguard Assurance Company has launched a motor insurance certificate card to wipe out the usual paper-form insurance certificate it issues to policyholders.
The motor insurance certificate, by comparison to other motor insurance documentations, stands alone as the most important document. At least, it provides evidence on the minimum level of insurance cover required by the Road Traffic Act.
Speaking at a media launch, the Executive Vice Chairman of the Vanguard Group, Dr. Gideon Amenyedor said the purpose of the card is to strengthen security in the insurance industry and also to help Vanguard Assurance boost the penetration rate of insurance in Ghana.
He said, “Vanguard is the first insurance company to introduce this form of motor insurance certificate.”
Speaking to JoyBusiness, the Group Chair of Vanguard Group, Daniel Awuah-Darko said, “I think the world is moving towards a paperless society.”
He said, “Recently, you have heard the Vice President saying that in the ports he doesn’t want to see anymore paper and they have actually converted to a paperless clearing system in the ports.”
Mr. Awuah-Darko said, “Most industries will start to follow. We try to be the pacesetters in the insurance industry. We are trying to become paperless… the world has to become paperless to save our environment and our climate so it’s in the right direction and am sure other insurance companies will follow.”
He added that the renewal of this card will take the form of the DVLA’s drivers’ licence, which is, placing a new sticker on the card by way of extending the expiry date.
This card is to be given out for free to clients of the company at the point of acquiring a motor insurance cover or during renewal of an existing motor policy.