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Micro-insurance awareness low in Ghana


A pilot study to promote micro-insurance awareness in the country has identified the lack of knowledge and benefits of insurance as one substantial challenge facing the insurance industry in Ghana.

It said the lack of understanding was higher in the low-income or informal market where there is a vulnerability to various kinds of risks that cannot be fully covered by social insurance.

This general lack of awareness has resulted in a low insurance uptake with only 4.1 per cent of the total population having any insurance policy as at the end of 2010.

In Ghana, most people are apathetic to insurance products because most of the insurance companies have failed to effectively communicate the benefits of their products to the public, which often results in a negative public perception of insurance.

In order to help bridge this gap, the National Insurance Commission (NIC), in collaboration with the Ghana Insurers Association (GIA) and the German technical cooperation (GIZ), has launched an awareness campaign, dubbed “Promoting Insurance in Ghana (PromIGH)” for the development of the sector in Ghana.

The pilot campaign was conducted in 2013 and ran through 2014 in order to test the feasibility and potential effects of a public awareness campaign. It was carried out in 20 communities in four districts.

Presenting the findings of the study, the Project Manager for PromIGH, Mr Branko Wehnert, said the pilot campaign was aimed at improving access to and usage of insurance products by micro, small and medium-sized enterprises.

He said the monitoring and evaluation research suggested that the PromIGH micro-insurance awareness campaign was successful in increasing insurance awareness, explaining, “The results of the quantitative research showed marginal positive changes in both knowledge and attitude indices.

“The qualitative data suggested that participants who heard the radio drama or participated in the road show showed a greater range of knowledge about a more positive attitude towards micro insurance and insurance companies than participants who just heard the radio jingles,” he said.

The study recommended that a scale-up of the campaign should consider how to ensure that insurance knowledge was enhanced as the attitude towards insurance was also being improved.

“More investigation is needed on how people within various communities learn and acquire knowledge about technical topics such as insurance and which channels are best to communicate,” he said.



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Monte Pypi Darteh Kwadwo Collins, Famously Known as Monte OZ is a Dominican Ghanaian Born Television Host & International Media Correspondent Primarily Working in Ghana. He is Proud of His Ethnic. He Believes He Can & He Will. He is Not Measured By His Accent or By His Color. He is a Descendant of the Strong People. He Love, Laugh & Cherish His Family. He Listens to the Songs that Sings in Him and Encourage His Spirit to Dance. Monte OZ loves the Possibilities He Sees.