HOLLARD GHANA
Insurance Inspired
Leading the national indemnity revolution
Sweeping changes are striking the Ghanaian insurance industry, inciting economic confidence across the sector and country. “I will commend the National Insurance Commission, our regulating body, for the massive steps being taken to facilitate the growth and development of the insurance industry.
“I think the introduction of new types of compulsory insurance and the strict enforcement of existing products such as motor insurance and insurance for commercial buildings will go a long way in boosting sector performance.
“We’re excited about the draft bill that has compulsory insurance like group life insurance, workmen’s compensation, public liability insurance, marine insurance and professional indemnity, and we look forward to the this finally being passed by the end of the year.”
Standing front and centre in the Ghanaian insurance industry, Patience Akyianu’s optimism speaks volumes of the mutual strides being taken by public and private entities alike.
Having spent 17 years in banking, holding senior positions at the likes of Barclays Bank Ghana and Standard Chartered Bank Ghana, she took a transitional cross-industry jump into insurance owed to this buoyant outlook, joining Hollard Ghana as its Group CEO in October 2018.
“Last year was an inflection point in my career,” Akyianu affirms. “After 10 years at Barclays Bank Ghana, I decided it was time to do something different.
“I found the opportunity to champion the growth strategy of Hollard in Ghana exciting because the insurance industry here is still in its infancy. As disposable incomes increase and public perception about insurance improves through greater education and awareness, we can expect very strong growth.
“Life insurance, for example, has been growing at an average of 25 percent per year over the past three years.”
Products made meaningful
Against this lucrative back drop, the Hollard Group in Ghana is determined to become the country’s favourite insurer, offering prospective national clients innovative, tailormade, bespoke insurance solutions.
Such offerings are backed up by the brand’s presence in 18 countries across Asia, Europe and Africa (including Ghana), maintaining a combination of world-class standards and a deep understanding of the local market.
“Hollard can be described as a global brand with a strong pan-African focus,” the CEO affirms. “We benefit from our 25 years of operating in Ghana, having been formerly known as Madison and Metropolitan Insurance, combined with the expertise we derive from being a member of a strong multinational insurance group.”
Such a combination is readily reflected in the Ghanaian division’s ethos, ensuring it always observes and listens to its customers’ requirements and demands to ensure that it is able to design and deliver meaningful insurance products that suit these needs.
From its life and general insurance offerings to its commercial and corporate lines, this approach is maintained across the board, a major reason behind its General Insurance Company being named the Most Friendly and Supportive Insurance Company in 2017 by the Ghana Insurance Brokers.
“Our exceptional claims payment ability backed by our unrivalled technical and service quality competencies distinguish us from other industry players,” Akyianu adds.
Collective efforts
These esteemed services are also supported by the Group’s network of valuable partners, recognised by the firm as crucial cogs in its operations. Providing what is described by Akyianu as a triple win for Hollard Ghana, its clients and distribution partners alike, this approach is another key differentiator that stands the company apart.
“Our strong, long-term relationships are all constructed in a way that recognises the unique contribution and capabilities of each partner,” she states. “All partners are a critical factor to the success of our business; we believe that they are at the heart of everything we do and deserve our support.
“From our cherished brokers and Hollard2U managers and agents to our partner banks, retail distribution partners and suppliers, we see that relationships matter and there is power in diversity.”
Indeed, these partners only constitute one part of the Hollard Ghana success story, its staff comprising a second lengthy string to its extensive bow of expertise.
This in mind, the company continuously works hard to ensure that it both retains and helps to develop its best talent.
“Top performers are provided with tailormade programmes and incentives, such as a long-term bonus schemes and awards,” Akyianu reveals. “Equally, our comprehensive training schemes aim to bridge the competency gaps for all talent, prioritising technical development and leadership development.”
The use of in-house coaching and mentoring, workshops and seminars, and coordinating with key Ghanaian universities in line with the National Service Program are other methods that are leveraged to bolster this evergrowing talent pool.
As a result, the merits of these