CIIG encourages industry players to intensify insurance penetration efforts

The Chartered Insurance Institute of Ghana (CIIG) recently concluded the fourth edition of the Insurance Excellence Awards, celebrating outstanding achievements within the insurance sector.

During the event, CIIG President Solomon Lartey emphasised the importance of improving insurance penetration in Ghana, which currently stands at around 2 percent.

Lartey also urged industry members to increase their efforts in driving this agenda forward.

"The insurance penetration rate in Ghana will rise with appropriate investments in innovation and technology that provide consumers with comfortable and enjoyable experiences. It is important for industry players to move this agenda forward to increase insurance penetration," the CIIG president stated.

Additionally, Lartey advised Ghanaians to leverage the value of the dollar by insuring their properties to ensure better financial outcomes.

The awards recognized individuals and organisations that have demonstrated excellence, professionalism, and integrity in their respective areas. The goal is to align Ghana’s insurance practices with internationally accepted standards, promoting a culture of high-quality service within the industry.

The overall award winner, Mrs. Jackie Benyi, Managing Director of Enterprise Life, expressed her gratitude to CIIG for fostering professionalism and excellence, particularly amidst the evolving challenges of the insurance industry.

Nominees for the individual awards were required to have a minimum of five years of experience and were evaluated based on their professional conduct, leadership skills, contributions to the industry, and achievements in their respective categories. KPMG meticulously oversaw the awards process to ensure transparency and fairness.

The 4th CIIG Insurance Excellence Awards, held at the Kempinski Hotel in Accra, brought together professionals, stakeholders, and organisations to honor excellence under the theme; "Excellence in a Customer-Centric Profession."

The event highlighted the vital role of professionalism in enhancing the insurance sector's reputation and effectiveness in Ghana. The recognition of outstanding individuals and organisations serves as an inspiration to the entire industry to maintain the highest standards and continue striving for excellence in a customer-centric profession.

CIIG serves as the mother-body of all insurance professionals in the country, bringing together practitioners from life and general insurance, reinsurance, health insurance companies, broking firms, pensions, securities, and trustee firms.