- An interview with Enterprise Insurance’s Managing Director, Akosua Ansah-Antwi, as part of its 99th anniversary.
Can you tell us about Enterprise Insurance’s journey as the oldest insurance company in Ghana, and what can we expect in the lead-up to its centenary in 2024?
The journey has been epic and monumental. I am, indeed, privileged to be carrying the torch passed on by others long before me who lived under British Colonial Rule, at a time when we were called Guardian Royal Exchange. We witnessed the tension of World War II and the 28th February Crossroads Shooting of ex-service men. Enterprise experienced the nostalgia of independence, the vibrance of authentic Ghanaian businesses, and the rise and fall and rise of our republics. We broke away from the traditional insurance mould, innovating a workgroup system that catalysed change. We expanded and evolved to be part of an ecosystem that could serve customers from ‘cradle to grave’. We survived a devastating pandemic and financial sector crisis, navigating unchartered waters of a digital age, and constantly adapting to stay relevant. Without a doubt, we must celebrate this legacy of resilience, growth and adaptability; but most importantly, we will be recognising all those who helped us get here; our customers, our people and our community.
Enterprise Insurance is recognised as the leading non-life insurer in Ghana. What sets your company apart when it comes to claims payment in a market where trust in insurance companies can sometimes be a concern?
The true measure of an insurance company is its ability to honour the sacred promise of paying claims. While I believe our peers feel the same way, for Enterprise, we have been able to prove that we are a brand that can be trusted. In 2022, we paid out GH¢121million in claims to over 6,000 customers; and we are dedicated to providing quick and fair claims settlements, giving our customers peace of mind. Our Same Day Claims Payment service, which was pioneered in 2018, was also an industry game-changer. With this, minor motor claims are paid the very same day they are lodged. It is essentially a counter service and it has helped immensely to exceed the expectations of our motor insureds, giving us a good number of referrals.
For over 14 years, Enterprise Insurance has been independently rated in the A category by the Global Credit Rating (GCR) of South Africa. We are proud to have achieved the ultimate rating of AAA in 2021. Our innovative solutions also set us apart because they have always been a direct response to the voice of the marketplace.
What is Enterprise Insurance doing to enhance its reputation and service quality in the insurance industry?
We are continuously evolving to meet the changing needs of our customers. We invest a lot in researching the experience of our customers, embracing the feedback and knowing that every new customer problem or issue is an opportunity to get things done better. This has ultimately helped in developing both new and enhanced products in 2022, like Pet Insurance for an emerging market of high-end breeds of dogs which are relatively expensive to maintain. We also have the Third Party Amplified and CompExtra, which are enhanced features of the Third Party & Comprehensive Motor Insurance.
Our pioneering culture was again brought to bear when, in 2019, we launched the Enterprise Advantage App which enables customers to seamlessly transact with us through purchases, claims payment or making enquiries through our self-service chatbot, Babs.
Notwithstanding the strides we have achieved in the digital world, we continue to invest in digital solutions to make insurance more accessible and convenient. We are actively involved in corporate social responsibility initiatives that positively impact the communities we serve.
Over the years, we have supported accident victims with mobility aids; and in partnership with other subsidiaries within the Enterprise Group, we have constructed a 3-classroom block for our immediate neighbour at Accra High Street, the Bishop’s Mixed Junior High School. We also refurbished the male ward at the Ankaful Psychiatric Hospital in Cape Coast in the year 2022.
Our objective is to be the leader in the insurance industry while also bringing about a meaningful change in the lives of individuals.
As the Managing Director, what is your vision for the future of Enterprise Insurance, and how do you plan to sustain its legacy.
My vision for Enterprise Insurance is to get people to believe in the value of insurance and be the benchmark of leadership and excellence in the insurance industry. Customer focus, ethical practices and innovation have been non-negotiable tenets of our success today, and if we continue to remain as agile and adaptable to our ever-changing environment, another century in our evolution would definitely not be beyond our reach. We look forward to celebrating our centenary with thankful hearts, knowing that God’s favour, the trust our customers have placed in us, our hardworking teams, and good corporate governance are responsible for where we are today.
This interview highlights Enterprise Insurance’s rich history, commitment to claims payment, and its forward-looking approach under the leadership of the Managing Director, Akosua Ansah-Antwi.
About Enterprise Insurance LTD
Enterprise Insurance is the oldest general insurance company in Ghana and has been in operation since 1924. The company takes its roots from the Royal Exchange Assurance Corporation of the United Kingdom, which commenced business in the Gold Coast in 1924, then became Guardian Royal Exchange Assurance Ghana Limited (GREG), and subsequently, Enterprise Insurance LTD. It is a subsidiary of Enterprise Group PLC.
Enterprise Insurance is a leading insurer in fire, marine, motor, general accident and special risk insurance solutions.