Ghana Insurance 2017


Ghana Insurance 2017

28th – 29th March, 2017
Accra, Ghana

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“Innovation, Mass awareness, Technology and Microinsurance: 4 wheels to drive Ghanaian insurance industry forward”

“Can new approaches combat roadblocks for Ghana insurance industry?”

70% of people would prefer to buy insurance from an MNO than from an insurer.

 

About the Event

  • Legal Frameworks:  Market reforms to reduce fragmentation and improve solvency. “No Premium, No Coverage”  is also strengthening the sector’s capital base
  • Merger and Acquisitions: M&A in the Ghana insurance industry and its positive effects on the economy are some of the lightening rods for the silver lining. Companies in the sector are reporting strong profits and good premium growth, while interest is high from international investors, with 2014 and 2015 characterised by a series of major transactions.
  • Bancassurance: Bancassurance is a booming business in Ghana. In early 2015 Société Générale and Prudential Life Assurance signed a bancassurance agreement. Universal Merchant Bank announced plans to expand its bancassurance operations . Stanbic is also in the Ghanaian market.
  • M insurance (Mobile Insurance): There are recent progressions and developments like the penetration of M insurance (Mobile Insurance) in the market which is a success story for the insurance industry owing to the familiarity of MNOs (Mobile Network Operators).
  • Microinsurance: Ghana being a developing economy holds the key to treasure for the microinsurance industry, microinsurance can help the general masses tremendously. the number of policies jumped from 1.7min 2011 to 4m in 2015.
  • Ghana Reinsurance:  Reinsurance industry too is calling for an innovative touch owing to unpredictable global risks and technological advancements.

Ghana Insurance Conference will underline the major issues for the insurance industry while also brainstorming the root causes and effective innovative solutions inspiring the upward growth.

KEY HIGHLIGHTS
  • Role of Ghanaian Insurance Industry in Economic Growth and National Development
  • Review the growth in M-insurance
  • How to bridge the gaps between insurers and M-insurance industry
  • Strategies to Increase Agricultural Insurance Productivity
  • Impact of the digital age on insurance: driving Insurance towards innovation
  • Marketing through social media: insurance needs popularity
  • Drivers of Innovative pull in the reinsurance world
  • Microinsurance: imperative for sustainable development of Ghanaian economy
  • REGIONAL OUTLOOK – Investment in Nigerian insurance industry, Growth in Tanzania’s agricultural model by deploying agro-insurance models
  • Better regulatory framework for deeper penetration of insurance
  • Linking effects of Climatic Change on Ghana Insurance Sector 
  • Mergers and Acquisition: A way forward to economic growth and value creation
  • Cyber insurance: Paving Ways to stabilize future in the digital era
  • Fire insurance Enforcement: Need for better legal structure
  • Bancassurance: Strong pillar of Ghana insurance industry
  • Deposit Insurance law: can do wonders in the insurance world
  • Increase in Investment can alleviate the insurance industry
 
Be Our Partner

Ghana Insurance Conference is an excellent opportunity to enhance business  relations in a positive learning environment. Through this event, you will be able to network with people with varied expertise and can prove beneficial for raising your corporate profile.

 
 

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“Innovation, Mass awareness, Technology and Microinsurance: 4 wheels to drive Ghanaian insurance industry forward”

“Can new approaches combat roadblocks for Ghana insurance industry?”

70% of people would prefer to buy insurance from an MNO than from an insurer.

CONFERENCE AGENDA*

GHANA INSURANCE 2017 
28–29 March 2017
Accra, Ghana

Day 1: MARCH 28, 2017
 
8.30 AM REGISTRATION & COFFEE
9.00 AM CHAIRMAN’S WELCOME REMARKS
9.10 AM
KEYNOTE SESSION: ‘No Premium,
No Cover’ Policy:  Recasting the Future of Ghana Insurance Industry

The introduction of the No Premium, No Cover Policy has helped in building and sustaining a more viable and robust insurance sector that is ranking and effectively competing with counterparts globally. With the No Premium, No Cover Policy, the Ghanaian insurance sector is better placed and empowered to secure their rightful ranking and recognition within the Ghanaian economy in terms of contribution to GDP, employment opportunities, investment outlets and investable fund channels.

  Presenter:
Simon Nerro
K. Davor
Deputy Commissioner
National Insurance Commission

 

9.50 AM
Comprehensive Overview of the Ghanaian Insurance Industry

 

  Presenter:
Dr. Albert Gemegah
CEO
AG Associates

 

10.30 AM Morning Coffee Break & Networking
11.00 AM
Future Growth Perspective: Highlighting the Creation of Legal and Regulatory Framework for Development and Enhancement of Microinsurance in Ghana

 

The lack of legal accountability leads to unsettled disputes between the insurer and the policyholders, marring their interest in the insurance industry. Probing into the proper legal framework to aid the growth of the insurance industry and evaluating and overcoming the key issues in designing the framework is the need of the hour.

  Presenter:
Afua Boahemaa Donkor
Executive Director
Star Microinsurance Services Limited


11.40 AM
Growing Role of Ghanaian Insurance Industry in Economic Growth and National Development

 

Ghana insurance has a huge potential to grow African nations economically. Currently, it inflows only 2% of GDP as compared to that of Kenya (3.2%), Namibia (7.5%), and South Africa (14.5%). Since the implementation of policies and structural reforms in the 1980s and 1990s, the insurance industry of Ghana has accomplished a significant growth in terms of financial services, strengthening its role in economic development.

  Presenter:
Solomon Lartey
Managing Director/Chief Executive Officer
Activa International Insurance

 

12.20 PM
State of Mobile Insurance: Bridging the Gap between Mobile Insurance and Insurers

 

With the ever so increasing number of MNOs (Mobile Number Operators), the insurers have been given a run for their money. With the advent of providing insurance schemes by the MNOs, people’s attention has been drifting away from the insurers. The insurance industry is looking at forming alliances between the masses and the network providers for staying relevant. However, the bridge formation between the two sectors needs more stones owing to the different nature and power hold of the two industries.

  Presenter:
Agnes Allotey,
Head of Strategic Partnerships
BIMA (Milvik Ghana Ltd)


1.00 PM Networking Lunch
2.00 PM
Why Insured are Insured and Uninsured Remain Uninsured?

 

Microinsurance (MI) has received an increased attention in the recent years. In particular, the Philippine Government. In the 2011-2016 Philippine Development Plan, MI has been considered as one of the viable “alternative financial product” that is delivered to the unserved and underserved market and the most vulnerable and marginalized sector.
MI offers a huge market potential. Also, the affordability of MI products, ease of purchase and high speed of claim settlement are among the positive considerations why MI is a viable business line.

  Presenter:
Jo-Dann N. Darong
Insurance Planning Officer III, Department of Finance
Insurance Commission of the Philippines


2.40 PM
Mergers and Acquisitions: Way Forward to Economic Growth and Value Creation for Ghana Insurance Industry 

 

  Presenter:
Randolph Rodrigues 
Executive VP
Stanbic Bank Ghana


3.20 PM Afternoon Coffee Break & Networking
3.50 PM
Microinsurance: Understanding the Drivers for Sustainability and Growth

Although trade analysts have a huge faith in insurance, it cannot overshadow the barriers it faces. The voluntary purchase of insurance is not prevalent in Ghana. Therefore, there is a need to make people understand the importance of and create awareness about the concept of microinsurance. There is a need for tremendous focus shift to come up with new and innovative business models for driving towards growth and sustainability.

  Presenter:
Adjoa Boateng
Regional Director
MicroEnsure Holdings


4.30 PM Q & A
5.00 PM End of Day 1
 
Day 2: MARCH 29, 2017
 
9.00 AM CHAIRMAN’S WELCOME REMARKS
9.10 AM
Health Insurance: An Acturial Approach

 

  Presenter:
Richard Clottey Anang
Lecturer
Department of Statistics, University for Development Studies


9.50 AM
Corporate Life Insurance (Group Life Assurance): The Untapped Potential for Increasing Insurance Penetration, Density, Risk Protection and Enhancing Financial Inclusion in Ghana

 

  Presenter:
Sosthenes Konutsey
Head–Corporate Business
Old Mutual Ghana


10.30 AM Morning Coffee Break & Networking
11.00 AM
Comprehensive Overview of the Nigerian Insurance Industry

 

  Presenter:
Adedayo Arowojol
Managing Director
Wapic Insurance Ghana


11.40 AM
Reinsurance has Got Our Back: Innovative Pull in Reinsurance World

 

Cyber risk is among the top ten risks facing companies today. And not surprisingly, options for managing and mitigating various cyber risks are currently an ongoing topic of discussion. So far, however, most of the focus has been from an insurance perspective. But reinsurance clearly has a significant part to play in confronting this evolving and escalating risk. 

  Presenter:
Ken Aghoghovbia
Deputy Managing Director/ Chief Operating Officer
Africa RE


12.20–1.30 PM Lunch
2.00 PM End of Conference

*Agenda content and timeline subject to change.

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  Presenters

Simon Nerro
K. Davor
Deputy Commissioner
National Insurance Commission

Mr. Davor attended School of Administration, University of Ghana from 1984 and 1990 where he obtained B.Sc. Admin. (Accounting) and MBA (Finance) degrees in 1987 and 1990 respectively.

He is a Chartered Accountant by profession and a member of the Institute of Chartered Accountants (Ghana) since 1992.

His working carrier started with Coopers and Lybrands, Chartered Accountants before moving to Bank of Ghana, Cal Merchant Bank Ltd., and ADB where he held Senior Management positions.

He was appointed Deputy Commissioner of Insurance of the National Insurance Commission in September 2010, where he has been instrumental in a number of reforms carried out in the insurance industry.

Jo-Dann N. Darong
Insurance Planning Officer III, Department of Finance
Insurance Commission of the Philippines

Professor Darong is currently an Insurance Planning Officer III of the Department of Finance – Insurance Commission of the Philippines.

Before joining the government service, Professor Darong started his career as a Bank Officer. After a year, he worked as the Project Development Officer II in the Department of Education and later on joined at Metropolitan Bank and Trust Company (Metrobank). He spent five years as a Project Manager and Head of Promotions and Advocacy Group at the Development Academy of the Philippines.

Some of his notable achievements include: Leadership Excellence Awardee in 2003 conferred by the Office of the President of the Republic of the Philippines, Philippine Youth Ambassador for the Environment in 2005 by United Nations Environment Programme and Bayer Germany, National finalist to the Ayala Young Leaders Congress in 2006 by Ayala Foundation and the youngest recipient of the Most Outstanding Project Manager Award in 2014 given by the Development Academy of the Philippines.

Professor Darong is a sought after Economics and Management lecturer in the School of Continuing Professional Education (SCOPE) of the University of Makati, Philippines where he teaches for 6 years now.

Professor Darong is currently the President of AlphaMind Consulting Partners, Inc. and at the same time, the Chief Executive Officer (CEO) of AdRow Creatives Advertising Inc. Advocate of the need for inclusive social risk protection among the marginalized, the poor and the vulnerable sector of the society, Professor Darong has meritoriously dedicated time and devotion in various government and non-government organizations that champion social and community development both in local and national level.

Richard Clottey Anang
Lecturer
Department of Statistics, University for Development Studies

Richard is a Lecturer in the Department of Statistics of the University for Development Studies, Navrongo Campus. He is the Industrial Attachment Coordinator for the Faculty of Mathematical Sciences. He lectures Risk Theory and Statistical Computing and Data Analysis among many other courses within the department.

He holds an MPhil & BSc in Mathematics both from the Kwame Nkrumah University of Science and Technology, Ghana. He did an extensive work during his MPhil on Ghana’s National Health Insurance Scheme and subsequently published it in a refereed journal. He has a number of publications, conference papers and books to his credit. He also supervised a number of students’ thesis in the same area of Insurance. He is very analytical, approaches challenges with a logical mind and results oriented.

Adedayo Arowojol
Managing Director
Wapic Insurance (Ghana)

Mr. Adedayo Arowojolu serves as Managing Director of Wapic Insurance (Ghana) Limited a subsidiary of Wapic Insurance Plc. Prior to his appointment as the Managing Director, he served as the Head of Corporate II and Controller at Wapic Insurance Plc. Mr. Arowojolu also served as Head of Oil and Gas Upstream at Wapic Insurance Plc. Other than that, he is an Associate member of the Chartered Insurance Institute of Nigeria (CIIN).

Mr Adedayo has over two decades of insurance experience. He holds a Second Class Upper Degree with a Bachelors of Arts Degree and a Masters Degree in Communications both from the University of Ibadan. He also holds an MBA from the Lagos State University.

Dr. Albert Gemegah
CEO
AG Associates Limited

Dr. Albert Gemegah graduated from the University of Ghana in 1978 with a double major in Economics and Statistics. Upon graduation, he served as a teaching/ research assistant in the economics department and at the Institute of Statistical, Social and Economic Research (ISSER), Legon. He then went on to the University of Hamburg where he obtained a Master Degree in Insurance and Industrial Management and further a PhD degree in Risk Management and Insurance.

Dr. Gemegah returned to the University of Ghana where he helped establish the Insurance Programme at the Business School and has been running this Programme since its inception to date. He is a senior lecturer at theBusiness School and has to his credit several publications and conference presentations in Risk Management and Insurance. He has also done extensive consultancy work for various local and international bodies including the Ministry of Finance, the World Bank, Insurance Companies and Banking Institutions. He has advisory capacity for internal organisational issues, strategic planning, market evaluation, project management and co-ordination. He also has research and training capacity in risk management, insurance, finance and management.

In addition to academic work Dr. Gemegah is also an active insurance professional being an Associate of the Chartered Insurance Institute of London (ACII) and a Chartered Insurance Practitioner (CIP). Dr. Gemegah worked with several insurance companies in Germany, including Volksfuersorge Deutsche Lebensversicherung AG., Albingia Insurance Company, Hermes Credit Insurance Company,and Munich Reinsurance Company. He is the head of AG Associates Limited which is a team of very dynamic Risk and Resources Management Consultants as well as independent professional Insurance Intermediaries.

Dr. Gemegah serves as director on boards of several reputable organisations including the Board of the National Insurance Commission, and the Academic Board of the Ghana Insurance College. He also chairs the Board of Road Safety and Transportation Consult.

img_8133

Solomon Lartey
Managing Director/ Chief Executive Officer,
Activa International Insurance

Solomon Lartey is presently working as the Managing Director/ Chief Executive Officer at Activa International Insurance and has worked in different capacities before reaching to this position. Mr Solomon has vast experience in Financial Services. He has a natural flair for business development.

Mr. Lartey holds a Bachelor of Arts Degree (Geography & Resource Development with Economics) from University of Ghana, a Masters in Business Administration (MBA) from Bradford University School of Management, Bradford, United Kingdom. He is presently a member with the Group Activa Executive Committee, and was previously associated as a member with the Globus Network Liability Centre of Excellence/Practice Group, the Ghana Insurers Association’s Marine & Aviation Technical Committee (2015), the Ghana Insurer’s Association’s Accident Technical Committee (2014), and the London Faculty of Insurance, Faculties of Underwriting, Claims & Broking, IFS.

ken-africa-re

Ken AGHOGHOVBIA
Deputy Managing Director / Chief Operating Officer,
AFRICA RE

Since joining the Corporation in 1985, Mr. Ken AGHOGHOVBIA worked in different capacities before rising to the position of Regional Director of the West Africa Regional Office. He was the pioneer Regional Director of this Office when it was established in 2009 and played a pivotal role in the turnaround of the fortunes of the Regional Office, African Oil and Energy Pool and the African Aviation Pool.

Mr. AGHOGHOVBIA holds a Bachelor of Science Degree in Insurance (Nigeria) and a Master’s Degree in Business Administration (Nigeria). He is an Associate (ACII) and a Fellow (FCII) of the Chartered Insurance Institute (UK). He has been a member of various regional professional committees.

Mr. AGHOGHOVBIA became the Deputy Managing Director / Chief Operating Officer of African Reinsurance Corporation on 1st July 2011.

adjoa161

Adjoa Boateng
Regional Director,
MicroEnsure

Adjoa Boateng is Regional Director for MicroEnsure, with responsibility for operations in both Ghana and Malawi.

Having earned a BA at the University of Sheffield (UK), Adjoa started her career as an intern in Goldman Sachs’ London office.

Adjoa was selected by Fortune magazine and the US State Department as one of 26 emerging female leaders in the Fortune & US State Department’s Global Women’s Mentoring Programme, where she interned with Accenture PLC; and was also shortlisted as a finalist in the Financial Sector category of Africa’s Most Influential Women in Business and Government in 2013.”

afua

Afua Boahemaa Owusu
Executive Director,
Star Microinsurance (Ghana)

Ms. Afua Boahemaa Owusu is the Executive Director of Star Microinsurance (Ghana). She is credited with setting up Ghana’s first locally owned Microinsurance Company and developing a set of products initially deployed into newly created markets for Microinsurance products in 2008. She was involved in all aspects of setting up the business, including recruiting and training core staff, defining the business strategy and maintaining oversight for its successful implementation.

Star Microinsurance has also partnered with institutions like the ARB Apex Bank (consisting of 136 rural and community banks), Ghana Association of Microfinance Companies (consisting of 584 MFI’s), Ghana Co-operative Susu Collectors Association and the Ghana Post Services. Star Microinsurance is a success story of a Microinsurance entity which has a vision to expand and cover the whole Africa.

Afua’s first degree was in Mathematics from the University of Cape Coast (Ghana) she also holds an M.Sc. in Actuarial Science (Heriot Watt University, Scotland). She is a Chartered Insure by profession and an Associate of the Chartered Insurance Institute . Currently she is pursuing her PHD in Statistics at the University of Ghana, Legon.

russel-haresign

Russell Haresign
Country Manager,
Ghana at Milvik (BIMA)

Russell has overall strategic and operational responsibility for our Ghana business. Russell has five years’ sales and operational management experience in South Africa with the security company ADT Security. Previously he held a strategy role with Tyco in London and was a Business Analyst at McKinsey & Company.

Russell holds an MA in Economics from University of Cambridge.

Sosthenes Konutsey
Head–Corporate Business
Old Mutual Ghana

Mr Sosthenes Konutsey is the Head, Corporate Business of Old Mutual Ghana. Mr Konutsey has extensive knowledge of the local financial services market having had a combined 15 years’ experience in the Banking, Insurance and Pensions industries in Ghana. These experiences span various capacities with both local and multinational financial institutions in Ghana.
Before joining Old Mutual Ghana, he worked with the Agricultural Development Bank as Branch Manager. Until then, he worked with Stanbic Bank Ghana in various managerial roles within the Personal and Business Banking space. Far earlier in his career, he worked with Standard Chartered Bank Ghana in several other supervisory roles within the Consumer Banking space.

Mr Konutsey has had extensive training in various areas of the financial services sector and has also attended leadership development programs both locally and abroad. He holds academic qualifications in MBA Financial Management from Cambridge International College, UK and also MSc Economics of Technology and Development from University of Cape Coast, Ghana.

Randolph Rodrigues
Head of Investment Banking
Stanbic Bank

Mr Randolph Rodrigues is the Head of Investment Banking at Stanbic Bank. He has extensive experience in the financial services industry and in particular in Mergers & Acquisitions, having previously worked with Credit Suisse and Morgan Stanley in the US as well as in Corporate Finance as a member of the Corporate Development Group at Microsoft. He attended Cornell University, where he obtained his BA in Mathematics with a specialisation in Economics, and Harvard Business School for his MBA. Randolph returned to Ghana in 2011 as Head of Mergers & Acquisitions at Stanbic Bank before assuming his current role.

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$1099
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Register 3 Send 4th One Free Any organization wishing to send multiple attendees to this conference may send 1 FREE for every 3 delegates registered. Please note that all the 3 participants must register at the same time to avail this benefit.

Note: All payments are made in USD.
Registration fee only covers cost of all sessions, luncheon, coffee/tea & presentations. Fee does NOT include any travel or accommodation expenses. Fee is not inclusive of 5% Admin/Bank Charges.

Venue

Holiday Inn Accra Airport
Address: Pmb Ct 97, Cantonments, Accra, Ghana
Phone: +233 30 274 0930
Website: Holiday Inn Accra Airport
For Room Reservation, Contact Hotel at sales@holidayinnaccraairport.com


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