Leading Insurance Company for Multinational Companies in Ghana: Activa
“With our previous model we were able to become the foremost insurer of multinational companies in Ghana and with the second phase of our model we expect to be the foremost insurer of retail and SME businesses in Ghana.”
Interview with Solomon Lartey, Deputy Managing Director of Activa International Insurance
What is your mission at Activa Ghana?
My name is Solomon Lartey; I am the Deputy Managing Director of the company. I work on many things ranging from operations through to finance and all other aspects that correspond to the managing director. I am the foot soldier for the company so to speak.
Activa is definitely going somewhere; we started in 2009 and already we are number 7, up from number 8 last year, in the market. I believe that within the next three to five years, we should be getting to be among the top 5 in the market. That alone should tell you that we are a company with a lot of activities going on. There are many things that we are doing to get there.
We started as a company that focused on corporate businesses and now we are introducing retail and SME businesses into our activities. Through that we hope to penetrate the local market in a very massive way. With our previous model we were able to become the foremost insurer of multinational companies in Ghana and with the second phase of our model we expect to be the foremost insurer of retail and SME businesses in Ghana. With that we believe we will be where we want to be—in the top 5 insurance companies in the next three to five years.
Everyone should taste what Activa has to offer. It is time to get Activated and people should get involved with Activa!
What are some of the niche products you are going to introduce in the short term?
In the immediate future we intend to introduce mobile handset insurance which we are close to completion on. After that, we have a product called the Third Party Plus; it is a motor insurance product that will bridge the gap between comprehensive and third party insurance. It is not third party fire and theft; it is called Activa Third Party Plus which is a very innovative product. It will give something back to individuals or companies who insure on third party basis as it will give them something to help them when there is a loss for own damage.
We are also looking at other products, for instance Activa is the only company in the market which is able to write clinical trials policies. We also do medical malpractice insurance which other companies in the market are not able to write. We write directors and offices’ liability policies, we write errors and omissions etc. and we are able to do these things due to our global partnerships. We work with a couple of companies and global insurance groups worldwide. Thus we have access to a wider market and wider consultations etc. There are so many things going on in the company that will ensure that we reach our targets within the next three to five years.
How would you summarise the strong points of Activa Ghana? What distinguishes you from your main competitors?
The main distinguishing factor is our service quality levels. We are able to provide world-class insurance in Ghana, a third world country. Companies with partners in Europe, the Americas and other places are able to trust us with risks that they would entrust in the hands of the top multinational insurers. That shows the quality of service and the level of technical capabilities that we have.
To conclude, what is your final message about Activa?
My message is that everyone should taste what Activa has to offer. It is time to get Activated and people should get involved with Activa!