Ghana’s insurance industry welcomes game-changer ICSG Ltd

Dennis Yaw Tuffour

By Emmanuel Akyereko

Ghana’s insurance industry is set to receive a major revitalisation as claim experts, Insurance Claims Specialist Group (ICSG) Limited, has vowed to restore public confidence in the sector.

ICSG Ltd, which was launched in the Ghanaian capital Accra at an event at the Mensvic Hotel, earlier this week has vowed to inject a fresh dose of professionalism and competence in the industry as it firmly fixes its sights on restoring public’s trust in the system.

During Thursday’s mega-event, industry leaders, regulators, and stakeholders gathered to experience the new dawn of hope and promise for the industry fresh high-class professionals entering the field.

In his inaugural speech, Dennis Yaw Tuffour, the CEO of ICSG Ltd described the event as a moment of purpose-defining and commitment to integrity.

“Today is a proud moment for us,” he is quoted by a publication cited by Afro Asia Media.

“But more than that, it is a moment of purpose. Because this occasion is not only about the opening of a company. It is about a commitment to professionalism, a commitment to integrity, and a commitment to strengthening confidence in Ghana’s insurance industry,” he added.

The insurance penetration in Ghana remains a lowly 2% despite a massive insurance service revenue of about GHS 7.3 billion (¥106.8 billion).

The CEO pencilled out a five-point commitments guiding strategy for ICSG Ltd in their operations.

Independence and integrity in every assessment; efficiency without compromising quality; regulatory alignment and technical excellence under standards such as IFRS 17; dignified and clear communication with claimants; and contribution to market sanitisation through proper verification and fraud detection.