SSNIT Launches Business Intelligence Tool

Dr Ofori-Tenkorang speaking at the launch

THE SOCIAL Security and National Insurance Trust (SSNIT) has launched a business analytics tool to track and measure performance at the Pension House in Accra.

Speaking at the launch, Director-General of SSNIT, Dr John Ofori-Tenkorang, stated that the Operational Business Analytics tool would help the trust measure performance and improve upon areas where it was not doing well.

“It will also help us to track if we are on course for the goals and targets we set for ourselves. And it will assist us to ensure that our staff perform at the highest level of productivity,” he noted.

Dr Ofori-Tenkorang said businesses, the world over, were now consistently looking for solutions that would positively impact their operations so they could function more efficiently, save money, time and provide convenience for their clients.

He explained that the trust had collected a lot of data made up of actuarial, compliance, financial and other data for analysis, and could provide information on which areas SSNIT was doing well and where it needed to pay more attention in the course of its business.

Dr Ofori-Tenkorang continued that such data could be used to predict, inform and shape projections going into the future.

Deputy Director-General, Operations and Benefits, Laurette Korkor Otchere, mentioned that the goal of this initiative was to change staff culture towards work, by discarding the traditional methods of monitoring and evaluation and replacing it with a results-based approach that focused on outputs, outcomes and impact rather than inputs and activities.

According to her, “there was an exponential increase of 42.81% in last year’s inspection performance as compared to the previous year’s performance.”

She further added, this performance also translated into the amount that was collected for 2019 which saw a 15% increase compared to that of 2018, which recorded a 5.95% growth in active contributors as at December 31, 2019 and improved member statements which had an impact on benefits processing. The analytics content that was developed for the Compliance Task Force assisted in the identification of employers who were not complying with their statutory obligations under the law.”

Regarding benefits processing time and accuracy rate, Mrs Otchere said analytics had played a major part in the considerable improvements made, adding that currently, any claim application that is delayed at the branches can be easily identified with the click of a button. 

She continued that the application of Business Analytics would fully equip managers to identify challenging areas and formulate decisive strategies towards improving performance at the branch and area levels.

BY Melvin Tarlue