Maiden insurance confab for Thursday

All is set for the maiden edition of the National General Insurance conference scheduled for October 19, 2017 in Accra.

An initiative of the Ghana Insurers Association (GIA), under the auspices of the General Insurance Council (GIC), the event is to create a platform to help address key issues that affect the insurance industry.

Its on the theme: “Transforming the General Insurance Industry through Self-Regulation, Financial Capacity and Business Innovation.”

The President of the GIA, Ms Aretha Duku, in an interview with the media in Accra, said the event was to help create a national platform for discussing and addressing key issues that affected the insurance industry in Ghana.

She stated that the conference would also help create awareness of general insurance among policy makers and other key institutions and stakeholders in the country.

“I look forward to fruitful discussions that would direct us as to how to fully utilise the benefits of self-regulation, improve our financial capacity and tap into the benefits associated with social media and technology,” she said.

The conference is expected to be graced by high- ranking officials from the Minitry of Finance and will be attended by delegates in the general insurance industry, chief executives of insurance and allied industry and officials from the National Insurance Commission.

Efforts by the General Insurance Council

The Chairman of the General Insurance Council, Mr Kwame Ofori, observed that the conference was a culmination of years of dreams and efforts by the General Insurance Council to tell the story of the impact of this line of insurance business on the lives and properties of individuals and on the country as a whole.

He reiterated that the conference theme was quite auspicious at this time in view of its focus on three thematic areas that had the potential of making the general insurance industry better.

“Self-regulation has become one of the most powerful tools for instilling discipline, promoting healthy competition and avoiding stricter regulations in various industries worldwide.

The insurance industry in Ghana cannot be an exception. The benefits of self-regulation are obvious. It can help us address a range of issues, from establishing industry standards, through developing and applying codes of professional ethics, to ensuring consumer confidence,” he said.

Speaker presentations

After the opening ceremony, there will be speaker presentations, panel discussions and an open forum on relevant topics pertaining to the main theme of the conference.

The main presentation will be made by Mr Steven Oluoch, the Chief Executive Officer of ICEA Lion General Insurance, one of the most prominent general insurance companies in Nairobi, Kenya, and the entire East Africa.

Other notable speakers will include Mr Justice Yaw Ofori, Insurance Commissioner; Ms Aretha Duku, President of the Ghana Insurers Association, and Mr Kwame Ofori, Chairman of the General Insurance Council of the Ghana Insurers Association.

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