A comprehensive guide to general insurance book, titled The Insurance Landscape, which seeks to bridge the information asymmetry gap in the domestic insurance market while simplifying the intricacies of the industry, has been officially launched in Accra.
The gripping page-turner contains 16 chapters and 230 pages and is authored by Bernard Akyin-Arkoh – a chartered insurance practitioner at Star Assurance Limited, and forwarded by Boatemaa Barfour-Awuah, Chief Executive Officer (CEO) of the company.
With carefully chosen and sufficiently discussed topics, the book sheds light on the state of Ghana’s insurance market, challenges and opportunities for future growth of the sector as well as the importance of insurance to the socio-economic development of the country.
Additionally, it explores the country’s insurance history, regulatory framework and the type of insurance policies available on the market.
While providing a compendium of principles and practice with respect to the country’s insurance industry with a special focus on the non-life insurance sector, it looks at the legal basis for its compulsory motor insurance cover, among others.
It further highlights the distribution channels in the sector and how they contribute to insurance penetration within the economy, offering solutions to some identified challenges within it.
Aside from exploring the various categories of insurances and coverage options, it delves into the prerequisites for underwriting and claims requirements in the unfortunate event of a loss, and many more.
Mr. Akyin-Arkoh, speaking at the launch, disclosed the inspiration behind the comprehensive and riveting insurance masterpiece.
“This book is born out of a commitment to bridge the chasm between the technical jargon of the insurance sector and the everyday experiences of individuals. The genesis of it can be traced back to my numerous encounters with clients, agents and newcomers to the insurance realm who exhibited a notable lack of comprehensive understanding in this field. Identifying the substantial impact of this knowledge gap on insurance penetration, I embarked on a mission to create insurance awareness and to compile these insights into a comprehensive reference book to address the issue,” he said.
The chartered insurance practitioner, who successfully published 13 insightful articles on insurance in the B&FT in 2023 alone, also used the opportunity to introduce yet another seminal book titled A Decade in the Ghanaian Insurance Industry. This book looks at his professional experience, achievements, challenges and opportunities, among others.
He urged all and sundry, particularly insurance professionals, to get copies of the books so as to add to their knowledge as well as broaden their horizons on new perspectives of insurance practice.
