GHIC covers 21,000 lives in five years, commits to deepening insurance penetration

– Achieves 97% claim settlement ratio in 2025

By Ernest Bako WUBONTO

Ghana Association of Banks (GAB) Health Insurance Company Ltd. (GHIC), a private commercial health insurance scheme (PCHIS) licensed by the National Health Insurance Authority (NHIA), has provided health insurance coverage to over 21,000 individuals within its five years of operation.

Despite the country’s insurance penetration rate remaining below two percent—with over 75 percent of the population, approximately 25 million people, still uninsured—GHIC has reiterated its commitment to expanding access to health insurance as a means to encourage broader adoption of insurance services.

Managing Director of GHIC, Joseph Abenney Yeboah, underscored the importance of service reliability in fostering public trust and uptake.

“People will be willing to sign up for health insurance schemes when they are confident that presenting their card at a facility guarantees seamless service. That is a commitment we continue to uphold as a way to bring more people into the insurance space,” he stated.

He added that the GAB’s 100 percent shareholding in GHIC reflects the scheme’s strong corporate governance and sound financial foundation—key to delivering affordable and quality health insurance to the public.

Operating as a business-to-business (B2B) provider, GHIC has recorded significant success through its 34 policyholders, with clients spanning sectors such as banking, freight, logistics and transport, savings and loans, microfinance, aviation, education, NGOs and oil and gas.

The health insurance provider achieved a 97 percent claim settlement ratio in 2025, up from 94 percent in the previous year—demonstrating its commitment to prompt and reliable claim payments.

Speaking at the Brokers’ Conference on the theme ‘Building Bridges for Mutual Growth: Partnering GHIC for a Better Health Outcome’, Chief Operations Officer of GHIC, Isaac Obeng Yankson, noted that the company was established to reduce healthcare costs for clients, build trust in private health insurance, improve access to quality care, and address issues such as fragmented service delivery and poor claims experience.

“We are confident in our ability to add value to client health insurance programme management, strategy and support and day-to-day servicing. At GHIC, we believe in ‘customer-first thinking’, which is the cornerstone of our service model,” Mr. Yankson said.

Claim payment and accessibility

GHIC is in good standing with regulators and maintains a service provider network of more than 800 facilities nationwide—including hospitals, laboratories, diagnostic centres, pharmacies, and dental and optical clinics.

This extensive network ensures members can access top-tier healthcare providers across the country, with prompt claim settlements regardless of location.

Medical advisory services

One of GHIC’s standout offerings is its provision of medical advisory services. These include access to second opinions from healthcare professionals, facilitation of treatment—both locally and internationally, and in-house pharmacist support.

“GHIC provides medical advisory services to help members navigate and resolve medical and administrative challenges within the healthcare system. Eligible members, their spouses and dependent children are covered—benefitting from services such as identifying qualified providers nationwide, resolving billing issues and securing appointments with hard-to-reach specialists,” the COO explained.

The post GHIC covers 21,000 lives in five years, commits to deepening insurance penetration appeared first on The Business & Financial Times.

Read Full Story