Ghana is looking to leverage financial technology ( fintech) to boost participation in the banking sector, utilising digital services that are accessible and affordable to improve customers’ experiences. High levels of mobile phone penetration have facilitated this movement; Ghana boasts West Africa’s highest unique subscriber penetration rate...
Ghana’s National Insurance Commission (NIC) has been working in recent years to implement a series of changes aimed at enhancing access to coverage, diversifying products and bolstering awareness in the general public about the importance of insurance. The Covid-19 pandemic further underscored the need to bolster the market. “The financial...
As environmental, social and governance (ESG) concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects. The launch of the UN-convened Net-Zero Insurance Alliance (NZIA) in July 2021 reflects an ongoing shift in the global...
How can insurance companies benefit from the participation of actuaries in their businesses?
Ghana is well positioned to develop its insurance sector – an imperative made more pressing in recent years due to the Covid-19 pandemic and increasingly frequent weather disasters linked to climate change. According to a 2021 survey conducted by the UN Development Programme, around 70% of Ghanaians do not have access to insurance of any kind...
Ghana is well positioned to develop its insurance sector. According to a 2021 survey conducted by the UN Development Programme, around 70% of Ghanaians do not have access to insurance of any kind, and many of the products available in the market do not respond to the needs of the population. Even so, the sector’s value grew 10-fold between 2011 and 2021. The market has been able to expand its...
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