25 April 2017

Africa: Turnkey Africa Proud to Support Life Insurance Confab

Turnkey Africa Ltd has indicated its pride in being associated with the 4th Life insurance Conference organized a couple of weeks ago by the Ghana Insurers Association (GIA).

The event, held on the 11th of April in Accra, is conducted annually and is aimed at creating a national platform for discussion and addressing key issues that affect life insurance and create awareness about life insurance among policy makers and other key institutions/stakeholders in Ghana.

The sponsorship of this event underlines how Turnkey's vision strongly aligns with GIA's vision of increasing insurance penetration in Ghana by making the acquisition of insurance, a way of life for all Ghanaians.

With operations in seven countries across Africa and experience garnered over the last 20 years, the TurnQuest platforms deliver Turnkey Africa's key premise to offer effective, innovative insurance platforms to drive the growth and performance of their clients across Africa.

The main speaker for this year's life insurance conference, which attracted over 200 delegates was Mr. Tom Gitogo, Group CEO CIC Insurance Group of Kenya, whose speech centered around the event's theme of "Extending Coverage of Life Insurance in Ghana: A collective Responsibility."

Also speaking at the same event was Madam Lydia Lariba Bawa, commissioner of the National Insurance Commission (NIC). Madam Bawa urged insurers to seek merger opportunities to meet the minimum capital requirements stipulated by the Insurance Act to avoid getting delisted. Ghana has 50 insurance companies, serving a population of over 25.9 million, many of which, according to the commissioner, are unable to raise the necessary capital to meet the requirements.

"Through this sponsorship, we aim to demonstrate our commitment to empowering insurance players across Africa to effectively anticipate, compete and thrive in a fast changing market," said Kizito Makatiani, CEO of Turnkey.

Speaking at the event, he addressed the topic on 'Becoming a Digital Insurer,' saying that "While underwriting discipline, claims execution, investment management acumen still remain relevant for high-performing insurers today, insurers need to digitise their businesses which adds another capability in which leading insurers need to excel.

"Teaming with GIA inspires a collective vision and we look forward to building strong and mutually beneficial relationships within Ghana and across Africa," he added.


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