Ghana Insurance Brokers Association (GIBA) has elected and sworn into office Mrs Lena Adu-Kofi, as the first female President of the Association,
Mrs. Lena Adu-Kofi has nearly thirty-two years of management, leadership and industry experience with thirty of those years dedicated to the insurance industry.
She is a Co-Founder of Safety Insurance Brokers Limited and the first woman to be licensed as an insurance Broker in Ghana.
The investiture of new executives council to lead the Association took place at the Launch of the Association’s 30th Anniversary celebration.
Speaking with the Commissioner of Insurance for Ghana, Mr. Justice Ofori, said the commission is working to produce the right mechanisms to aid in addressing issues of undercutting insurance premiums by the end of March, 2018. This follows the undercharging of premium by some Brokers, affecting the solvency of the insurance industry.
The Commissioner expressed concern about the constant level of undercutting as a major setback to the insurance industry.
The outgoing president, Nathan Adu, in his remarks said despite the numerous challenges that has faced GIBA within the last 30 years there is still much reason to celebrate. He said “there is still more room for improvement and I trust that as we reflect on the theme through our year-long activities, we will be able to strategize for a better future, especially in the areas adhering to ethical conduct and creating of awareness to the public on the distinctive role of an insurance Broker in the Insurance Market”.
Accounting for his stewardship, Nathan Adu said one of the major challenges facing the insurance brokerage industry in Ghana today is the difficulty in fishing out charlatans who are parading as Brokers and indulging in several illegal and unethical activities on the market.
He said GIBA is currently recognized by the National Insurance Commission as a Trade Association for all Ghanaian registered Brokers and Consultants and has served as the mouthpiece for all when it comes to lobbying government and the National Insurance Commission (NIC), negotiating with insurers and making recommendations and inputs on market guidelines and directives, among others.
“As a body we have been able to host several professionals from within and outside our industry and also outside the country to share their knowledge and experience on modern trends and best practices which have been of great enlightenment to most of us,” he stated.
Mrs. Adu-Kofi, while giving her acceptance speech, high lightened on her vision and urged all brokers to strengthen their relationships with other regulatory bodies, and assured members, GIBA will become a national council, acquisition of property for the association, establish TV or Radio Station that would push the agenda of insurance education in Ghana.
“The legal committee, which I chair, has started the process by dialoguing with our colleague brokers in Nigeria, who have already achieved council status since 2003. There is still more work to be done, but, I am hopeful that the objective is highly attainable during my tenure of office” she stated.
“Through this media house, we can hold and telecast live programs including infomercials, insurance quizzes, conferences, public lectures, and insurance awards ceremonies, publicize claim settlements, and share risk management tips on insurance portfolios,” she stated.
Programmes lined-up for the year-long anniversary celebration include health walk and medical screening, interactions with trade associations, corporate social responsibility, public lecture and training, fun games, insurance quiz, dinner dance and awards night; and a thanksgiving service.
The other elected executives of the council include; Mr. Shaibu Ali, Vice President, Mrs. Ekua desBordes-Jackson as the General Secretary, Mr. Stephen Kwarteng Yeboah, Treasurer and Mr. Henry Kom the Assistant General Secretary.
The rest are, Mr. Denis Guddah, Assistant Treasurer and Mr. Nathan Adu as the Ex-Officio Member.
By: Sheila WILLIAMS
