By Michael Kofi Kenetey
Insurance brokers have been urged to take deliberate steps to rebuild trust in the industry by ensuring prompt and fair settlement of claims, adhering to ethical standards, improving consumer engagement, and committing to the long-term sustainability of the sector.
The call was made at the 11th Annual Educational Conference and Exhibition of the Insurance Brokers Association of Ghana (IBAG), held at Kwahu Nkwatia in the Eastern Region.
The three-day conference, on the theme “Building resilience in a socio-political environment,” has brought together industry leaders, experts, and professionals to discuss key issues shaping the insurance sector in Ghana.
Organisers say the event provides a platform for participants to engage in thought-provoking sessions aimed at challenging perspectives and improving service delivery across the industry.
In his welcome address, IBAG President, Stephen Kwarteng Yeboah, said the theme was carefully chosen in response to the uncertainties within the current socio-political environment.
He noted that while the environment presents opportunities, it also comes with challenges that require resilience to navigate.
Mr Yeboah further highlighted concerns about corruption, bribery, and other social vices creeping into the industry, warning that such practices threaten its survival if not addressed.
Speaking on behalf of the Finance Minister, Dr Cassiel Ato Forson, the Chief Economics Officer and Director of the Financial Sector Division at the Ministry of Finance, Louis Kwame Amo, revealed plans to develop a 10-year Insurance Master Plan.
He said the initiative, captured in the 2026 Budget Statement and Economic Policy, will be developed in collaboration with industry stakeholders to ensure long-term sustainability.
Mr Amo stressed that the insurance sector plays a critical role in Ghana’s economy by mobilising long-term savings, promoting financial stability, supporting enterprise growth, and protecting households and businesses against risks.
The Deputy Commissioner of Insurance, Bernard Ohemeng-Baah, described the theme as timely, noting that resilience and sustainability are central to all activities within the industry.
The conference also features sessions on workplace stress and its impact, aimed at enhancing both the professional and personal development of participants.
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