The Ghana Insurers Association (GIA) opened its 4th International Educational Seminar on July 8, 2026, urging industry players to demonstrate bold leadership and strengthen professional capacity. GIA President Mrs. Boatemaa Barfour-Awuah stated the sector must build public confidence in the face of emerging global risks.
Mrs. Barfour-Awuah emphasized that the insurance sector must move beyond reacting to changes. It needs to position itself as a solution provider for modern challenges. The next decade will see increasingly complex risks such as climate change, cyber threats, artificial intelligence, and trade disruptions. These factors necessitate adequate preparation from insurers to protect individuals, businesses, and economies.
This initiative fits into Ghana’s broader economic resilience and stability efforts. The insurance industry plays a critical role in mitigating the financial impact of disasters. For example, insurers paid an estimated GHS 36 million in claims following the June 3, 2015, twin fire and flood disaster in Accra. The industry is currently compiling claims from recent flooding incidents across the country. Data on financial sector stability, especially concerning claim payouts, is crucial for assessing national resilience.
“The world is safer when insurance leads,” Mrs. Barfour-Awuah stated robustly. She reiterated the industry's critical responsibility to provide stability and support during uncertain periods. The GIA President outlined four strategic priorities for the sector. These include responsible technology adoption, expanding insurance access to underserved communities, improving ethical standards for trust, and deepening stakeholder collaboration. Mrs. Barfour-Awuah specifically mentioned cooperation with institutions like the National Insurance Commission (NIC) as essential. This collaboration aims to build a fair, financially sound, and growing insurance market.
The seminar’s discussions on claims management, cyber resilience, and professional conduct will equip insurance professionals with vital skills. Improved public understanding of insurance processes and claims handling is also a key focus. This focus is critical to addressing negative perceptions and reassuring policyholders of the industry’s commitment. Decision-makers and market participants will watch for concrete steps in these strategic areas. Successful implementation will likely boost public trust and industry growth. This could also attract further investment into Ghana’s insurance sector, improving its overall contribution to the national economy and enhancing the country's ability to withstand future economic shocks and disasters.