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GIA launches 2024 Insurance Awareness Month

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The Ghana Insurers Association has launched the 2024 edition of the Insurance Awareness Month in Accra.

The month-long programme is being held under the theme ‘Making Insurance the Ghanaian Way of Life’.

The campaign aims at increasing the public’s understanding of insurance concepts, educating them on how insurance could mitigate the potential risks faced in their personal and professional lives and encouraging the need for financial planning.

This year’s edition of the annual flagship event of the professional grouping of insurance companies in Ghana is bringing together insurance and reinsurance companies and their professionals as well as other key stakeholders in the insurance industry with the Ghanaian public.

At the launch held at the National Insurance Commission head office in Accra, speeches were delivered by key figures – both within and outside the industry, providing valuable insights and perspectives.

President of the Ghana Insurers Association, Seth Aklatsi, who is the Managing Director and Chief Executive Officer of Donewell Insurance, explained that the awareness month is not just about celebrating the industry.

“It is about educating and empowering individuals and businesses to make informed decisions about their financial futures,” he asserted. “It is about demystifying insurance and showcasing how it can be a powerful tool for stability and growth.”

Addressing the audience of insurance practitioners, clients and wider stakeholders who gathered for the official launch, he pointed out that inclusivity in insurance means ensuring that every individual – regardless of their background, circumstances or abilities – has fair and equal access to insurance products and services. “It means simplifying complex jargon and processes so that individuals can make informed decisions about their coverage.”

“Accessibility in insurance”, he pointed out, “goes hand in hand with inclusivity. It means making insurance understandable, affordable and available to everyone. It means simplifying complex jargon and processes so that individuals can make informed decisions about their coverage.”

He pointed out the need to educate consumers about the importance of insurance and empower them to make informed choices. “They must recognise that one size does not fit all when it comes to insurance. Tailor-made products and services must be provided to meet the diverse needs of different communities and individuals. We must also remove barriers by ensuring that insurance processes are transparent and easily navigable for all.”

The month-long campaign would include activities such as consumer outreach programmes, fun games, donations and a GIA-Graphic Insurance Fair at Accra Mall on July 20 this year, with a special pull-out supplement on the insurance industry aimed at creating awareness of insurance among the citizenry

The past President of the GIA, Ivan Avereyireh, stated that the theme was timely and, thus, entailed a conscious and well-planned effort to change the mindset and attitudes of Ghanaians to accept insurance as a way of life.

He explained that selling the idea of insurance to insurers was a difficult task, as insurance products were intangible and were based on promises which were mostly hard to believe or bought by their potential clients.

Thus, he asked insurance companies to desist from selling their products to consumers, but rather rephrase their messages to make the people understand they are ready to solve their problems.

Mr. Avereyireh said the ineffective communication between insurance companies and clients was a contributing factor to the growing myths and negative news spread about insurance companies.

“Let them know that insurance companies in the country are reliable and that about GH¢4million of claims are paid daily to clients.”

He further stated that inasmuch as prompt payment of claims was important to overcome the negative perception of insurance companies, there was a need to work on quality service to fully win over the trust of Ghanaians.



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