The Ghana Insurers Association (GIA) has opened its 4th International Educational Seminar with a call on industry players to demonstrate bold leadership, strengthen professional capacity and build public confidence in the face of emerging global risks.

Opening the three-day seminar, President of the GIA, Mrs Boatemaa Barfour-Awuah, said the insurance sector must move beyond reacting to change and position itself as a leader in providing solutions to modern challenges.

She noted that the next decade will be shaped by increasingly complex risks, including climate change, cyber threats, artificial intelligence and disruptions to global trade, stressing that insurers must prepare adequately to protect individuals, businesses and economies.

"The world is safer when insurance leads," she said, adding that the industry has a critical responsibility to provide stability and support during periods of uncertainty.

Mrs Barfour-Awuah said insurance remains a key pillar of national resilience, citing the industry’s response to the June 3, 2015, twin fire and flood disaster, during which insurers paid an estimated GH¢36 million in claims to affected individuals and businesses.

She disclosed that insurance companies are currently compiling claims resulting from the recent flooding incidents in Accra and other parts of the country.

The GIA President outlined four strategic priorities needed to strengthen the sector, including the responsible adoption of technology, expansion of insurance access to underserved communities, improved ethical standards to enhance trust, and deeper collaboration with stakeholders.

She said stronger cooperation with institutions such as the National Insurance Commission (NIC) will be essential in building a fair, financially sound and growing insurance market.

Chief Executive Officer of Bedrock Insurance Limited and Chairman of the GIA Public Relations and External Liaison Committee, Ernest Frimpong, said the seminar is aimed at equipping insurance professionals with the skills and knowledge required to respond effectively to the needs of customers, especially during disasters.

He noted that many Ghanaians still have limited understanding of insurance processes, particularly how claims are handled, making public education and improved service delivery critical.

Mr Frimpong explained that the seminar forms part of GIA’s broader efforts to increase public confidence in insurance, address negative perceptions about the sector and reassure policyholders of the industry’s commitment to honouring legitimate claims promptly.

The seminar brings together insurance professionals and experts from Ghana and across the region to discuss emerging trends and technical areas, including claims management, reinsurance, cyber resilience, customer service and professional conduct.

Mrs Barfour-Awuah encouraged participants to take advantage of the sessions to exchange ideas and build capacity as Ghana works towards becoming a leading insurance innovation hub in West Africa.

"The next decade can be the decade that insurance stops following and starts leading," she said.