Ghana Insurance Brokers Association launches 30th Anniversary

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The Ghana Insurance Brokers Association (GIBA) has launched its 30th Anniversary Celebration in Accra. The celebration would be under the theme “Celebrating 30 years of Insurance Broking in Ghana; Achievements and Challenges”. The ceremony also marked the investiture of the newly elected Executives of the Association led by Mrs. Lena Adu-Kofi.

The outgoing president, Nathan Adu, in his remarks said despite the numerous challenges that has faced GIBA within the last 30 years there is still much reason to celebrate. He said “there is still more room for improvement and I trust that as we reflect on the theme through our year-long activities, we will be able to strategize for a better future, especially in the areas adhering to ethical conduct and creating of awareness to the public on the distinctive role of an insurance Broker in the Insurance Market”.

Accounting for his stewardship, Nathan Adu said one of the major challenges facing the insurance brokerage industry in Ghana today is the difficulty in fishing out charlatans who are parading as Brokers and indulging in several illegal and unethical activities on the market.

He said GIBA is currently recognized by the National Insurance Commission as a Trade Association for all Ghanaian registered Brokers and Consultants and has served as the mouthpiece for all when it comes to lobbying government and the National Insurance Commission (NIC), negotiating with insurers and making recommendations and inputs on market guidelines and directives, among others.

“As a body we have been able to host several professionals from within and outside our industry and also outside the country to share their knowledge and experience on modern trends and best practices which have been of great enlightenment to most of us,” he stated.

The Incoming President of GIBA, Lena Adu-Kofi noted that the Association’s unwavering mission is to invest in the future by sharing knowledge to develop the insurance industry to best support the growth of Ghana and its’ clients business goals.

To this effect she has promised to embrace the core values of integrity, innovation and growth by nurturing deep and abiding relationships with all stakeholders, maintaining an on-going dialogue at all times, to become the most value insurance partner for clients who seek responsive, reliable and intelligent solutions tailored to their requirements.

She said a recent publication by the GIZ revealed that the low insurance penetration in Ghana is due to lack of awareness on the importance of insurance and the negative attitude of Ghanaians towards insurance possibly due to past experiences.

“The ordinary Ghanaian needs much education on insurance; the essence, principles and benefits of insurance, as well as, to understand the distinctive and highly independent role the Broker plays as a Professional Intermediary, who is not tied to any specific insurance company,” she stated.

To this effect, the new GIBA President has promised to lead GIBA in a collaborative effort with other industry players to establish a Television or Radio Station that would push the agenda of insurance education in Ghana.

“Through this media house, we can hold and telecast live programs including infomercials, insurance quizzes, conferences, public lectures, insurance awards ceremonies, publicize claim settlements, and share risk management tips on insurance portfolios,” she stated.

A group photograph of participants at the programme
A group photograph of participants at the programme

Programmes lined-up for the year-long anniversary celebration include health walk and medical screening, interactions with trade associations, corporate social responsibility, public lecture and training, fun games, insurance quiz, dinner dance and awards night; and a thanksgiving service.

Source: Jeorge Wilson Kingson ||


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