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what Munhuwani and his team have been hearing on the ground from consumers. “Our decision to start a life insurance company was in response to our clients’ desire to have a ‘one stop’ insurance service provider,” he says. “Many have expressed satisfaction that they can now buy insurance for their house, car, and business and secure the future of their loved ones through one service provider.” Further, such clients now need to be reached outside of bricks and mortar branches which once characterised insurance distribution. Munhuwani explains how digital technology is a key enabler to connecting with customers, embodied by a strategy with the strapline objective of being ‘digital by default’. This again utilises the power of
the worldwide Allianz, which has invested in a Group Digital Factory where experts from all subsidiaries and regions gather to work on digital customer journeys and create key assets that can be reused across subsidiaries. “By leveraging on our common core group platforms, these solutions will be reusable in a plug and play manner across the world,” says Munhuwani. “For Allianz Ghana, our next phase of development will be to build capacity that empowers our clients to handle basic insurance transactions through the click of a button. We also want to enable most of the claims management administration to be handled via technology and remove the inefficacies of traditional processing systems. We are giving power to our clients.”
ALLIANZ GHANA – THE BASICS Allianz Ghana began operations in 2009 in response to a strongly growing national and regional economy. It currently has operations in six regions - Greater Accra Ashanti, Western, Northern, Volta and Brong Ahafo Regions. This branch network allows the firm to reach all of its various clients, be they corporate, commercial, small to medium sized organisations or individuals. It is also using technology and an agency network to make insurance products and services accessible in remote parts of the country. In December 2017, Allianz received its license to start a life insurance company, which officially launched on May 24 2018. Among its flagship products are the Allianz Wealth Planner, Allianz Term Life Plan and Allianz Farewell Plan. This offering joins conventional insurance products such as motor, home, travel, injury and disability insurance in the Company’s portfolio. “The ongoing rationalisation of the banking sector in Ghana has seen us introducing new insurance products that are tailored for the financial services sector,” Munhuwani says. “The growing threat of cyberattacks is real in Ghana as it is in other parts of the world. We have just introduced a cyber-risks and liability policy for the market. Behind each and every service and insurance policy is the need to protect our clients’ capital, people and transfer any liabilities from their balance sheets.”
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KEK INSURANCE BROKERS
K
EK Insurance Brokers Ltd is a multinational insurance broking firm with subsidiaries in Ghana, Sierra Leone and Liberia. The Company, since its inception, has competently handled the life and non-life insurances of several local/multinational businesses, households and individuals. KEK has been the leading insurance broking firm in Ghana since 1992 and partners with leading global insurance broking firms to provide enhanced services to several of its global and multinational clients.
Contact us on +233 302 764023 Location: GA-153-5910 (Ghana Post GPS) E kek@kekgroup.net
www.kekgroup.net
Community care
The firm is also empowering people in the communities it serves, be it through direct employment (98 percent of its staff are Ghanaians) and career development, or extending its support into wider society. One particular focus has been on helping children with disabilities. Financial support was channeled through O’Africa, a non-profit organization that provides shelter, care and protection to children who are abandoned, neglected, or abused or have some form of disability. A new project, slated for 2019, involves both social and environmental stewardship. “Our country has a plastic disposal problem,” Munhuwani says. “At the moment there are just a few private companies who are into recycling, but the level of pollution is such that their efforts are minimal and hardly felt.” Part of Allianz Ghana’s new project will see it provide bins for plastic waste