Wapic Insurance champions capacity building in the insurance industry

As part of its unfolding initiatives to transform and illuminate the insurance landscape in sub-Saharan Africa, Wapic Insurance (Ghana) Limited hosted a One-Day Training event on marine insurance for all brokers in the Accra region.

This industry-impacting training which brought together key insurance brokers in the industry was held in partnership with the Ghana Insurance College to discuss sustainable ways of boostingthe underwriting of marine insurance in the country.

Managing Director of the Company, Adedayo Arowojolu in his address said: “the decision to hold the seminar was to equip the various insurance brokers in the industry with the necessary knowledge needed to effectively underwrite marine insurance business.”

He further added that the marine insurance space remains to a large extent under-harnessed and has been experiencing a downward trend in terms of premium generation. “The Training Programme,” he concluded “will help improve the contribution of Marine Insurance portfolio to the Gross Written Premium (GWP) of the insurance industry.”

The concepts of Underwriting and Claims Settlement for Marine Cargo and Hull business were discussed in depth and opportunities identified. Participants were also taken throughThe Hague Rules, the Hamburg Rules and The Hague-Visby Rules.The session was conducted in a very interactive manner with participants getting the opportunity for a constructive Questions&Answerssessionusing demonstrations and illustrations.

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With this training programme, Wapic is fast becoming the rallying point for the industry, offering the needed collaboration that will trigger the growth of the sector. Wapic has positioned itself at the fore-front of seminars,debates and interactions that will not only boost industry capacity but trigger industry development.

Through a diverse portfolio of products and a commitment to providing the best customer experience possible, Wapic Insurance (Ghana) Limited has significantly enhanced its underwriting capacity placing it among the top insurance companies in Ghana by solvency and capital.

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