SanlamAllianz launches first in Ghana

… assure new dawn for insurance industry

By Ernest Bako WUBONTO

SanlamAllianz, a leading insurance provider in 27 African countries, created from the merger of Sanlam and Allianz Insurance, has officially launched onto the Ghanaian market as the first destination in Africa with the assurance to revolutionize the insurance industry.

The two insurance giants who formed Africa’s largest non-banking financial services company through a joint venture named SanlamAllianz in 2023 have now outdoor their SanlamAllianz brand with innovative product lines to meet the market’s needs.

SanlamAllianz Ghana has set its sights on expanding insurance penetration from the current 1.7 percent, increasing the meager 25 percent insured population as indicated by the 2023 Ghana insurance industry report, and promoting financial inclusion.

The two unique organisations have been operating in the country’s life and general insurance businesses. However, under the SanlamAllianz brand, the operations will be called Sanlam Allianz Life Insurance Ghana LTD and Sanlam Allianz General Insurance Ghana LTD.

As part of its strategy, SanlamAllianz Ghana aims to leverage innovative and diverse products to advance the financial inclusion and insurance penetration agenda, supporting the country’s inclusive financial ecosystem and small businesses.

Chief Executive Officer, Sanlam Pan Africa, Robert Dommisse, speaking at the press launch in Accra, highlighted that with a presence in 27 markets across Africa, the brand is well-positioned to make a significant impact in the country’s insurance industry.

“When we announced the joint venture that brought Sanlam and Allianz together in May 2022, we knew that our ambitions were big, not just for what the potential of the alliance could deliver, but also the possibilities in helping to bring about transformational change in financial services for the economies, people and communities in the 27 markets in which SanlamAllianz operates on the African continent.

“Looking at our combined experience, Sanlam and Allianz share a track record of over 200 years in Africa. In Ghana, we have an extensive history operating through various entities. The success that has been built by the local teams here over the past few years provides us with a compelling and strong foundation from which to move forward,” he said.

He added that SanlamAllianz is dedicated to empowering generations and communities with solutions that align with their insurance needs. With 75 percent of Ghanaians currently uninsured, the company aims to increase insurance coverage significantly within the next five years.

CEO of Sanlam Allianz Life Insurance Ghana LTD, Tawiah Ben-Ahmed, emphasised that a union between a global giant and an African champion symbolizes a renewed pledge to excellence, integrity, innovation, and a strong commitment to sustained positive customer experience.

“SanlamAllianz is the insurer you can trust and have confidence in to pay claims and provide you delightful service experience in your journey to become financially confident. We are filled with optimism and determination to do the right thing, and resolute in our commitment to what is good for all our stakeholders,” he said.

Mr. Ben-Ahmed hinted that a range of new products will soon be introduced into the local market including the Pay and Drive, a motor Cover insurance; Family Love a life policy; Flexi Cover; and Income Protection, all designed to make insurance more attractive and accessible to the Ghanaian public.

A digital platform dubbed Care Portal will also be available to enable customers to make claims, view policy status, and access customer care services without needing physical office visits.

Now positioned as a global giant with a combined experience of over 238 years, SanlamAllianz is confident in its ability to offer customers the best value products. The company’s shareholder structure comprises 60 percent Sanlam and 40 percent Allianz, bringing double confidence to its operations.

On her part, the CEO of Sanlam Allianz General Insurance Ghana LTD, Mabel Nana Nyarkoa Porbley, said: “SanlamAllianz brings a fresh perspective and innovative solutions to the local market, offering a wide range of insurance products and services designed to meet the unique needs of Ghanaians. With a strong focus on customer-centricity, digital innovation, and financial inclusion, SanlamAllianz is poised to transform the insurance industry in Ghana.”

The post SanlamAllianz launches first in Ghana appeared first on The Business & Financial Times.

Read Full Story