“Insurers must pay claims, they must mobilize money, they must finance before paying claims” (Beacon Abel Ezo’o Engolo, SG of CIMA)

The Secretary General of CIMA, Balise Abel Ezo’o Engolo, at the end of his press conference on October 27 in Libreville © Gabonactu.com

The Secretary General of the Inter-African Conference on Insurance Markets (CIMA), Balise Abel Ezo’o Engolo, in his speech took stock of the 30 years of this regulatory institution of the insurance industry in the 14 member countries scattered in the areas CEMAC and UMOA, called upon the insurers to show imagination in order henceforth to quickly liquidate claims, which still constitute a real insufficiency decried by beneficiaries.

“Insurers have to pay claims, they have to mobilize money, they have to finance before paying claims,” launched Mr. Abel Ezo’o Engolo, subsequently deploring this state of affairs which he wants to gradually correct.

In his report press conference held on October 27, 2022 in Libreville, the boss of CIMA, aims to “do better and we will do better”, because, he underlined, “expectations are numerous, particularly towards policyholders “.

“The brand image of the insurance sector remains very perfectible, we believe that the direction in which it is necessary to act affects in particular and essentially the policyholders in the benefit of what is due to them”, he insisted.

With a turnover of 1.489 billion FCFA ended in December 2021, CIMA, through its 172 affiliated insurance companies, settled 800 billion FCFA of claims, “paid each year to policyholders and beneficiaries of contracts”. For Mr. Ezo’o Engolo, these figures are insufficient. They must be improved in the new repositioning of the institution.

Also, he considered the possibility of better promoting the importance of insurance, an area that brings security, and “the means to build well, invest, build and develop better”.

For readi, “these difficulties are sometimes linked to history, sociology, market supervision and management mechanisms, and perhaps also to regulatory orientations which may not have been strong enough to change the course of the market. ‘insurance history of its perception’.

CIMA will celebrate its 30th anniversary on December 20, 2022 in Libreville under the high patronage of the Gabonese President, Ali Bongo Ondimba.

Sydney IVEMBI

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