September 19, 2020

Hollard partners Melcom to boost insurance penetration in Ghana

One of Ghana’s leading insurance companies, Hollard Insurance, has partnered retail giant, Melcom Ghana to make insurance services easily accessible to Ghanaians.

The new partnership known as the ‘Hollard-On-The-Go’ will increase insurance penetration by easing accessibility of insurance services to include more people.

Speaking to Citi Business News at a ceremony to launch the partnership, the Managing Director of Hollard, Nashiru Iddrisu, stated that Hollard Insurance considers the collaboration very important as the company recognizes Melcom as the strongest brand in Ghana’s retail market with over 40 outlets in various locations across the nation.

“You are going to have an addition of insurance, so anytime you enter a Melcom shop, you will also have the opportunity to buy insurance products from Hollard agents,” he said.

He also stated that Hollard, as part of its corporate social responsibility, has provided a free COVID-19 insurance cover for all its customers including new ones who sign up at Melcom branches.

The Chairman of Melcom Group of Companies, Bhagwan Khubchandani, described Ghana’s insurance penetration rate of 1% as pitiful, noting that the company’s partnership with Hollard will help to improve the situation by introducing insurance to a larger segment of the population.

He said even though insurance is a one of the most important sectors, it has not recorded the patronage it deserves as most Ghanaians find the processes complicated.

“We are hopeful that this platform will bring retail insurance services to the average person who finds traditional insurance rather cumbersome to access,” he added.

Hollard Ghana Holdings Limited is a subsidiary of Hollard International, which manages the international portfolio of the Hollard Group currently operating in 18 countries in Africa and Asia.

It was established to support the vision of becoming the country’s number one insurance group.

Hollard Insurance Ghana, formerly called Metropolitan Insurance Company (MET), operated successfully in Ghana for 25 years, until it was rebranded as Hollard Insurance Ghana in 2015, and Hollard Life Assurance Ghana, which started trading in 2018, are both subsidiaries of Hollard Ghana Holdings.

Hollard International’s vision is to aggressively grow its insurance businesses in Ghana by creating dynamic and consumer-oriented insurance solutions that meet the needs of all Ghanaians.

The Hollard Insurance Group, which was established in 1980, is today the largest privately-owned insurance group in South Africa with turnover exceeding $2.5 billion and assets in excess of $5.1 billion.


Source: Business