Nii Lante Vanderpuye, Deputy Minister of Trade and Industry, has challenged insurance companies to address the issues that prevent people in the West African sub-region, especially in Ghana, to fully appreciate the importance of insurance.

The Minister indicated that the perception which people in the sub-region have about insurance is a major disincentive to the growth of the industry.

“Do people take insurance premiums because they know it is a safety net for them or because they [just] want to avoid the harassment from the Police?", the Minister pointed out .

The Deputy Minister made these remarks when he officially opened a three-day international insurance workshop organized by Activa International Insurance in partnership with Zurich Insurance Company Limited at Dodowa Forest Town Hotel on Monday, October 21, 2013.

The Deputy Minister therefore hoped that the workshop would help to address the misconception people have about insurance. 

Deputy Commissioner of Insurance at the National Insurance Commission, Mr. Simon Nerro Davor, who chaired the function also noted that there was low penetration rate in the industry.

“Apart from South Africa, African countries have a penetration rate of less than 2%...hence workshops like these will help improve the rate by promoting professional ethics, meeting international insurance requirements and standards and building public confidence in insurance”, Mr. Nerro explained.

The Trade and Private Sector Development Specialist of the Switzerland Embassy, Mrs. Agatha Quayson lauded the partnership between Activa and Zurich Insurance and called on businesses to take advantage of the Swiss Chamber of Commerce, which in collaboration with the Embassy provides professional platforms for business networking seminars for both Swiss businesses and Ghanaian counterparts.

The Managing Director of Activa International Insurance Company Limited, Mr. Steve Kyerematen, assured Ghanaians that his company would continue to deliver benchmark international insurance service to protect Ghanaian investors.

In all 15 international insurance experts from Angola, Cameroun, Ethiopia, Ivory Coast, Kenya, Mozambique, Nigeria, Seychelles, South Africa, Switzerland,Tanzania,Uganda, Zimbabwe, Zambia and Ghana are particpating in the three-day workshop.