The Ghana Insurers Association (GIA) has opened its 4th International Educational Seminar with a call for the insurance industry to provide bold leadership, strengthen professional capacity and build greater public trust in an increasingly complex risk environment.
Opening the three-day seminar, GIA President Boatemaa Barfour-Awuah urged industry players to move beyond responding to change and instead take the lead in shaping the future of insurance.
She noted that the next decade will be defined by risks such as climate change, cyber threats, artificial intelligence and global trade disruptions, stressing that the insurance industry must be proactive in addressing these challenges.
"The world is safer when insurance leads," she said, adding that insurers have a critical role to play in protecting individuals, businesses and the economy during times of uncertainty.
Reflecting on the industry's contribution during the June 3, 2015, twin fire and flood disaster, when insurers paid an estimated GH¢36 million in claims, Mrs. Barfour-Awuah observed that insurance remains a vital pillar of national resilience.
She noted that the industry is also compiling claims arising from the recent flooding incidents in Accra and other parts of the country.
She identified four strategic priorities for the industry: embracing technology responsibly, expanding insurance access to underserved populations, strengthening ethical conduct to build trust, and deepening collaboration with key stakeholders, particularly the National Insurance Commission (NIC), to promote a fair, solvent and growing insurance market.
Also speaking at the opening ceremony, Ernest Frimpong, Chief Executive Officer of Bedrock Insurance Limited and Chairman of the GIA Public Relations and External Liaison Committee, said the seminar is designed to equip insurers with the knowledge and skills needed to respond more effectively to customers, particularly during disasters.
He observed that many Ghanaians remain unfamiliar with the insurance claims process and emphasised the need for improved customer education and service delivery.
Mr Frimpong said the seminar forms part of GIA's broader efforts to enhance the visibility and credibility of the insurance industry, eliminate negative perceptions and assure the public of insurers' commitment to paying legitimate claims promptly and supporting policyholders throughout the claims process.
The seminar brought together insurance professionals and industry experts from Ghana and across the region for discussions on emerging industry trends and technical subjects, including claims management, reinsurance, cyber resilience, customer service and industry conduct.
Mrs Barfour-Awuah encouraged participants to engage actively in the discussions and reaffirmed her vision of positioning Ghana as the insurance innovation hub of West Africa.
"The next decade can be the decade that insurance stops following and starts leading," she said.