The Ghana National Insurance Commission, through acting Commissioner of Insurance Dr. Abiba Zakariah, used the Insurance Brokers Association of Ghana’s 10th Annual Educational Conference and Exhibition to outline a three-pillar direction for strengthening the insurance sector and increasing insurance penetration. The agenda centres on sanitising the insurance market, growing the market through technology, and positioning Ghana’s insurance market internationally. Dr. Zakariah linked the approach to Ghana’s insurance penetration of about 1% of GDP, urged practitioners to adhere to professional ethics to build public trust, and signalled a broader role for stakeholder groups such as transport unions and market traders in product decision-making. IBAG President Shaibu Ali also called on insurers to operate with integrity and cooperation and to improve recruitment standards and working conditions for sales executives, citing misinformation and inadequate policy information as contributors to claims challenges.
Ghana National Insurance Commission 2025-03-24
Ghana National Insurance Commission sets out three pillars to sanitise the market, grow insurance through technology and improve penetration
The Ghana National Insurance Commission, led by acting Commissioner Dr. Abiba Zakariah, outlined a three-pillar strategy to enhance the insurance sector at the Insurance Brokers Association of Ghana’s conference. The plan focuses on market sanitization, technological growth, and international positioning, addressing Ghana's low insurance penetration of 1% of GDP. Dr. Zakariah emphasized ethical practices and stakeholder involvement, while IBAG President Shaibu Ali urged insurers to improve integrity, recruitment, and transparency.