Awareness campaign to improve insurance uptake in PNG

The Centre for Excellence in Financial Inclusion (CEFI), PNG Insurance Council, and insurance industry partners have signed a 4-month contract to conduct the country’s first Nation-wide Inclusive Insurance awareness campaign with local media company, Pidgin Production.

Inclusive Insurance is one of the seven (7) Working Groups under the National Financial Inclusion Strategy 2016-2020, which has identified a need for nationwide awareness campaign to improve understanding of Insurance for citizens and businesses.

The campaign is aimed at improving citizens’ knowledge on what insurance are, types of insurance products, and the processes of acquiring insurance policies from insurance companies.

The campaign will feature the industry projecting a unified voice on multiple media platforms to showcase and promote general and life insurance products, including insurance regulations in country.

CEFI Executive Director Saliya Ranasinghe in his remarks stated that, “Insurance acts as a safety net for individuals and businesses in times of loss, accidents and crisis.  In such situations, insurance can provide people with much-needed funds to help them recover from insurable events and to re-establish their livelihoods and businesses.”

With less than 5 percent of Papua New Guineans who have an active insurance policy, Mr. Ranasinghe specified that the campaign is a crucial initiative to address this huge gap.

Contract presentation (L-R) CEFI Financial Inclusion Manager Marie Eorage, BPNG Principal Senior Analyst Peter Samuel , Capital Insurance Group CEO David Lee, CEFI Executive Director Saliya Ranasinghe, Pidgin Productions Director Arjun Gyani, Pidgin Productions Content Manager Roshni Rao and CEFI Financial Inclusion Coordinator Albert Mokis Ahabh.

This campaign drive is a collaboration of the Insurance Industry that includes, Bank of Papua New Guinea (BPNG), Pacific Financial Inclusion Programme (UNCDF/PFIP), Capital Insurance, Life Insurance Corporation, National Teacher’s insurance, Office of Worker’s Compensation, Trans Pacific Assurance, Tower Insurance, Office of Insurance Commission, BSP Life, MVIL, INSPAC PNG, Capital Life Insurance Company, Kwila Insurance Corporation, Life Insurance Corporation (PNG), Pacific MMI Insurance and Workers Mutual Insurance (PNG).

The inclusive insurance awareness campaign is expected to run from August to September, 2020.

For further information, including access to related materials, please contact CEFI communications and stakeholder engagement team: +675 3225300 or email info@thecefi.org

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