Saham Insurance (Ghana) Strategy: Getting More Retail Business

“Since 2015, we have grown steadily. The focus was to grow our corporate niche and also to improve the retail base. At Saham, we have worked to increase the possibility of getting more retail business by recruiting more sales agents who are on the ground bringing in retail accounts.”

“We are increasing our sales agency force and we are now employing about 50 sales agents. On the corporate side, the Ghanan market is mainly broker-driven. About 65 to 70 percent is a brokers’ market. We are also strengthening our relationships with our brokers and we are drawing up new strategies for them in terms of benefits and what we can do together. We are moving beyond the normal relationship to a more lasting one where we try to be in their good books on a daily basis. We are looking at situations where they can be writing some business on our behalf and paying claims on our behalf for a fee to ensure that they do not forget about us when there is something on their table. And it has worked perfectly. We are already above our target for the year. We are hoping to achieve ten percent more than we planned to for 2017. Our strategies are paying off,” says Frederick Adotey Saka, Acting MD, COO of Saham Insurance Ghana.