Only 500,000 registered on private health insurance– NHIA boss

0
Ghana Insurance Awards
Enterprise Insurance receiving the Major Loss Award and Hall of Fame Award
  • as Enterprise Insurance, Starlife pick top gongs at 5th Insurance Awards

Some 500,000 Ghanaians are registered with private health insurance in the country, but the National Health Insurance Authority CEO, Dr. Bernard Okoe-Boye, believes there’s more room for the sector’s improvement.

“About half a million Ghanaians are registered with private health insurance, but National Health Insurance has about 15 million active members and we have a population of about 30 million. This means we have an opportunity to register about 13 million more Ghanaians on private health insurance. This is a big opportunity.

“I would like to challenge those in the space to push themselves harder. We do not see private health insurers as competitors, we are allies in the space. Whether you are publicly or privately insured, the good news is that you are covered – and that is what we are in all interested in as a government and an authority,” he said at the 5th edition of the Ghana Insurance Awards.

The night of glitz and glamour for insurance industry players saw some of the biggest names pick up the biggest honours. Organised by Xodus Communications, the Ghana Insurance Awards aim to educate, encourage and reward players in the Insurance sector while promoting growth of the industry through progressive competition, innovation and adherence to the highest professional standards.

National Health Insurance Authority
A group photograph of all winners

Enterprise Group, Starlife and Star Assurance were some of the biggest winners on the night, which was sponsored by Enterprise Computing. Talking about the award scheme’s relevance to the industry since its inception, Chief Executive Officer for Xodus Communications, Richard Abbey Junior, indicated that the scheme has pushed some companies to become innovative and as well created healthy competition.

Aside from that, Mr. Abbey stated the award scheme has informed the public about companies which are performing in the various fields of insurance industry; hence influencing them to sign up with the various packages available, which increases penetration.

Sharing thoughts on how to increase insurance penetration in the country Mr. Abbey advised that the various companies must begin to develop products and packages geared toward micro-insurance – stating that a lot of customers do not prefer making huge premiums.

Call for collaboration

Mr. Abbey, as a matter of ensuring that insurance companies are properly rewarded for their performance, has called on other institutions that are taking up the challenge and organising similar awards to consider collaboration to avoid derailing the efforts of other existing awards schemes.

The awards have categories cutting across life and non-life companies, re-insurers, brokerage firms and other intermediaries, health insurers, actuarial firms and other insurance service providers.

Awards List

Hall Of Fame 2022

Private Health Insurance Company of the Year – Nationwide Medical Insurance; Micro Insurance Company of the Year – Bima Ghana Limited; General Insurance Company of the Year – Enterprise Insurance Limited; and Life Insurance Company of the Year – Enterprise Life Ltd.

Other Categories

Fastest Growing Company of the Year – Serene Insurance; Best Growing Intermediary Firm of the Year – Ayo Intermediaries Ghana; Emerging Brand of the Year, Private Health – Apex Health Insurance Limited; CSR Leadership Award, Insurance Category – Allianz Life Insurance Company; Bancassurance Leader Award – Absa Bank; Brand of the Year (Life), Insurance Category – Prudential Life Insurance Company; and Brand of the Year (General), Insurance Category – Star Assurance Company Limited.

Product Innovation Award (Life), Insurance Category – Old Mutual Ghana (Old Mutual Retirement) Salary; ICT Leadership Award, Insurance Category – Allianz Life Insurance Ghana; ICT Leadership Award, Private Health – Nationwide Medical Insurance; Brand of the Year, Private Health Insurance Category – Acacia Health Insurance; Best Growing Company of the Year, Private Health Category – Apex Health Insurance Limited; Marketing Initiative of the Year, Old Mutual Ghana ‘Be Inspired Campaign’; and Innovative Product of the Year, Private Health – Cosmopolitan Health Insurance ‘Cosmo Care for Garages and Commercial Drivers’.

Agent of the Year, Deborah Dede Aryee – Fidelity Bank Ghana Limited; Personal Lines Insurer of the Year – Starlife Assurance; Promising Insurance Company of the Year – Imperial General Assurance; Mobile Insurance Leadership Award – Ayo Intermediaries Ghana; Commercial Lines Insurer of the Year – Enterprise Insurance Ltd.; Indigenous Insurance Company of the Year – Starlife Assurance; Major Loss Award – Enterprise Insurance Ltd.; Young Achiever of the Year, Kantu Achira – Standard Chartered Ghana Plc; and Best Growing Company of the Year, Insurance Category – Metropolitan Life Insurance.

CEO of the Year, Private Health Insurance – Setsoafia-Tukpeyi Godwin Fafali-Apex Health Insurance Limited; CEO of the Year, Insurance Category – Ernestina Abeh-Enterprise Insurance; Private Health Insurance Company of the Year – Metropolitan Health Insurance Ghana Ltd.; Life Insurance Company of the Year – Starlife Assurance; General Insurance Company of the Year – Star Assurance Company Limited; and Special Recognition Award Leadership Excellence Award – Dr. Bernard Okoe-Boye.

Leave a Reply