The campaign, under the auspices of the Insurance Awareness Coordinators Group (IACG) and the Ghana Insurers Association (GIA), will involve airing of insurance educative jingles in 34 Ghanaian
This will be done on 50 radio stations throughout the 16 regions of Ghana.
Other collaborators are Ghana Insurance Brokers Association (GIBA), and National Insurance Commission (NIC), the Chartered Insurance Institute of Ghana (CIIG), the Ghana Insurance College (GIC) and the National Association of Ghana Insurance Agents (NAGIA).
The campaign, which commences this week, will also have live radio interactions with the public in local dialects with industry personnel and experts.
Additionally, the campaign will cover over 210 administrative districts of Ghana, involve live interaction with 120 risk-management and insurance experts from some 74 Microinsurance, Broking firms, Life, Non-Life, Reinsurance and insurance companies.
Mr. Michael Andoh, Deputy Commissioner of Insurance, said the move was to enhance public understanding of insurance and also to increase the penetration rate, which is currently estimated at less than two percent.
He called for active participation of industry players and the public to achieve the goals of the campaign and move towards the projected target of five percent penetration next year.
Mr Andoh said the Commission and stakeholders were also ready to enforce existing laws on maritime and fire insurance
Mr Wilson Tei, who chaired the launch, said the sensitization campaign would last for three months and expected to reach at least 25 million Ghanaians and other residents of Ghana.
He said the aim was to bring insurance closer to the doorsteps of people by making it more attractive for clients to purchase the products.
The campaign is being funded by the Programme for Sustainable Economic Development (PSED) of the German Development Agency (GIZ) in partnership with all the key players in the insurance industry in Ghana.
The Insurance Awareness Coordinators Group (IACG) was formed in June 2015 as a result of the findings of GIA/NIC/GIZ’s Microinsurance Awareness Pilot campaign, and the urgent need to scale up the measures by developing an Insurance Awareness and Education Strategy to properly coordinate the various activities of stakeholders to achieve maximum effect.
The group is made up of representatives of all the relevant stakeholders in the insurance industry with the specific objectives to harmonize insurance education measures, enhance consumer trust in the insurance industry and develop a strategy on insurance education.