Dr. Gideon Amenyedor, Executive Vice-Chairman at Vanguard Assurance Company Limited, explain what are Vanguard’s competitive advantages.

"Our competitive advantage lies in the fact that we are the first to innovate. Everyone would agree that the most innovative company in Ghana is Vanguard Assurance. We have introduced a number of products that are tailor made to specific customers, such as Ladies Kitchen Insurance which pays for accidents when you are injured in the kitchen cooking. We were the first to introduce Onboard Protection Plus. During election campaigns, politicians go all over the country and there is a high risk of accident. Beyond policies, we are not only looking for a product line, but we want to make the payment claim process a delight and to start using digital technology. Vanguard has brought two top notch claim policies into place. One is a form of telemarket insurance processing locally. We are the first to bring this to Ghana. By introducing this, we are pushing even higher than the international market. You fit a tracking device in your car and when there is an accident, the impact will automatically send an SOS to the company. There is no need for the client to send us a notification. We have gone beyond that and developed an app where with just a click, the app sends that notification. For the first time in the insurance industry worldwide, Vanguard has developed what we call the Fire Alert app where we collaborate between Vanguard and the fire service. When there is a fire at your building, you click on that app and it sends an immediate notification to Vanguard and the fire service at the same time. The launch was very successful. The effect is that it is not just calling on your insurance in times of difficulty, you are also calling the fire services to rush to your scene. Fire services will come and put out the fire and, on your part, Vanguard will also be there to work and make assessments. One of the documents we require from clients when there is a fire is the fire services’ report. In Ghana it could take an average of three months to receive it, and that delays your claim. With this arrangement, we cut that down to three days, only 72 hours. It makes your claim go much faster. The broader goal of Vanguard Assurance is to make sure the claim process is a delight. On the motor side, when you have the digital auto insurance from Vanguard Assurance, you do not have to give the traditional notification because when there is an accident, a letter will automatically be sent to us. Vanguard dispatch will be on the scene to assess the loss and take pictures. You do not have to give us a police report because we have seen everything. We are now pursuing a process where we do not even have to send an assessor to the scene, but we will use digital technology and send drones. We had some roadblocks concerning security challenges nationally, so we have dropped that project for the moment. We have seen a lot of drone companies coming up, so we will pick that up again very soon. Our goal is to get to the highest level using digital technology. And we even want to get the writing in claims process digitalized in the future. It will make it more accurate and eliminate human error. Those are our long-term goals. By doing this, we are already the most innovative and efficient company", says Dr. Gideon Amenyedor.

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