Sampson Akligoh, Director of the Financial Sector Division of the Ministry of Finance
The Minister for Finance, Dr. Mohammed Amin Adam, has urged insurance companies in the West African sub-region to utilise Artificial Intelligence (AI) to make insurance more appealing to consumers.
Speaking on behalf of the sector minister at the opening ceremony of the West African Insurance Companies Association (WAICA) Education Conference in Accra, Sampson Akligoh, Director of the Financial Sector Division of the Ministry of Finance, emphasised the importance of aligning regulations with emerging technologies, particularly the rapid evolution of AI, which is revolutionising the insurance industry globally.
Akligoh also mentioned that insurance is critical in reducing risk for lenders by providing financial protection against borrower default.
“Insurance plays a critical role in reducing risks for lenders by providing financial protection against borrower default. Additionally, many insurance companies do not focus on the credit market, despite its importance to their operations,” Akligoh stated.
The Acting …