Award Criteria

Celebrating standards and excellence in the insurance industry.
Award Criteria
The Ghana Insurance Awards, endorsed by the Ghana Insurance Association (GIA) is a ceremony held annually to recognize achievements and standards in the insurance industry.



ICT Leadership Award

This award focuses on leadership in the use of modern technology in business and administrative processes. Entrants must show evidence that the application of new information and communications technology has enhanced the quality, efficiency and cost-effectiveness of its business administration, and impacted on customer service. Eligibility:
  • Life companies, Non-life companies, Broking firms, Health Insurance companies
Insurance Brand of the Year

The panel will be looking for entries that: Demonstrate - within the context of an overall brand strategy - how their organisation has used a range of techniques to improve market share, enhance customer loyalty, raise awareness or break into new markets, be that in the business-to-consumer or the business-to-business area. A successful brand strategy could include the use of data analytics to identify a customer segment to target; social media to better connect with specific consumers; more traditional medium such as print, radio or television marketing; or a successful sponsorship deal It will be particularly important to demonstrate the achievement of results against targets.. Eligibilty:
  • Life companies, Non-life companies, Broking firms, Health Insurance companies
Marketing Initiative of the year

The award will recognize the efforts of a company, which has deployed an innovative campaign to support marketing strategies and brand building. The campaign will be judged for its creativity, its ability and clarity in delivering key messages and perspectives about a specific product or service or the business in general to its stakeholders, and whether and how the campaign measured up to specific targets set by the company. Eligibility:
  • Life companies, Non-life companies, Broking firms, Health Insurance companies
Young Achiever of the year

Open to anyone working in the insurance industry aged 35 or attained 35 at the time of making entry.The panel will be looking for a person who has:

• Made significant strides in their professional development over the past year
• Can clearly demonstrate their contribution to the team or department in which he or she works.
• Evidence of leadership in new product development, customer service, business development, or
• Evidence of committment to pursuing relevant professional qualifications

All nominations must be made or supported by the person's (departmental) manager. Eligibility:
  • Employees of Life companies, Non-life companies, Broking firms, Health Insurance companies, and Re-insurance companies
BROKERAGE COMPANY OF THE YEAR

this award seeks to recognize the performance of a broking company in the insurance industry in the following areas: • business growth
• market share and/or growth
• staff training and development
• corporate social responsibility
• brand- building
• public education
• financial performance metric
  • Broking firms
CSR LEADERSHIP AWARD

The panel will be looking for a company or project that: Can demonstrate how they have embraced the principles of business sustainability within their operations Examples could include promoting social inclusion, sustainable communities and/or well being. The initiative could be national or local project and should demonstrate a coherent and integrated approach. Shows evidence of the delivery of policies in action . Eligibility:
  • Life companies, Non-life companies, Broking firms, Health Insurance companies, Re-insurance companies
CUSTOMER CARE AWARD

The panels will be looking for entries that: Have clearly demonstrated an excellent level of customer care backed by clear standards and validated monitoring of performance. Proof of the impact of an innovative customer care strategy on retention levels and client satisfaction. Eligibility:
  • Life companies, Non-life companies, Broking firms, Health Insurance companies
LIFETIME ACHIEVEMENT AWARD

This special award will be presented to an individual who has made an outstanding contribution to the success of the insurance industry through their illustrious career. This award cannot be entered, but is chosen by the panel in consultation with the wider industry.
MOBILE INSURANCE LEADERSHIP AWARD

This Award goes to any insurance or other company which has innovatively targeted the insurance market in Ghana especially the low-end customers who cannot pay high premiums on the mainstream insurance product can do so through the mobile phone device. Such a firm must have shown clear prompt payment of claims. Client testimonial will be a big plus Eligibility:
  • Mobile application companies
BROKING INNOVATION AWARD

Entrants should demonstrate a combination of some or all of the following:
• How they have responded to the demands of consumers with a product/scheme/ offering relevant to their needs
• Evidence of any special value-added services or support
• Evidence of product and/or service innovation in the context of profitable growth
• How a broker used marketing/technology/social media to increase penetration and maximise the potential of the product/scheme/offering
• Testimonials from insurers/business partners will help validate an entry
Eligibility:
  • Broking firms
CLAIMS INITIATIVE OF THE YEAR

This award would be given to the life or non-life insurance company, or broking firm, who has demonstrated unmatched leadership as far as claim handling/facilitation, is concerned. Relevant metrics here would include:
• Claim processing and settlement time
• Claims education to policyholders
• Use of modern tools and technology to improve claims experience for policyholders
• Verifiable policyholder/clients testimonials would be relevant
  • Life companies, Non-life companies, Broking firms, Health Insurance companies
Personal lines Insurer of the year-Life

The panel will be looking for a company that can: Demonstrate a commitment to meeting personal lines customer needs [whether end customers or brokers] and delivering a high quality of service as part of a broad strategic vision.
A firm that excels in every facet from underwriting to claims handling A proven track record of success in terms of innovative and profitable expansion in personal lines. Either in existing, or into new, markets. Evidence of a proven track
This award seeks to honour a company that has contributed to furthering the cause of making insurance more accessible and affordable to various customer segments in the country. The company will have made an impact in better educating consumers about insurance, or run a successful social responsibility campaign, or worked to increase awareness among specific user groups which are as yet un-served or underserved.


Eligibility:
  • Life companies, Non-life companies, Health Insurance companies
THE MAJOR LOSS AWARD

The recipient would be the life or non-life insurer who settled a non-routine claim in good time, and with unmatched professionalism and other metrics. Examples might be single incidents that give rise to a large and complex claim, or an incident that gives rise to multiple claims in a single location (e.g. a major flood, storm). The panel will be looking for entries that:
• Demonstrate ability to respond to such incidents, utilising the company's own resources, re-insurance, and other arrangements
• Testimonials from insured would help validate an entry.

Eligibility:
  • Life companies, Non-life companies
Commercial line Insurer of the year- Non

The panels will be looking for a company that can: Demonstrate a commitment to meeting commercial customer needs and delivering a high quality of service as part of a broad strategic vision. A firm that excels in every facet from underwriting to claims handling A proven track record of success in terms of innovative and profitable expansion in commercial lines. Either in existing, or into new, markets. Evidence of a proven track record of profitability and a clear strategy to deliver future growth.
  • Non-life companies
Non- Life Insurance company of the year

The panel will be looking for a company that can: Demonstrate a commitment to meeting customer needs and delivering a high quality of service across all of its activities as part of a broad strategic vision. A proven track record of success in terms of innovative and profitable expansion, either in existing, or into new, markets.
A business that delivers consistent service in terms of underwriting and claims across all lines of its business.
A firm that embraces its broader role in terms of embracing diversity and business sustainability as part of its overall objectives. This award honours the leading non-life insurer of the country with overall leadership in revenues, business model effectiveness for the fiscal year 2015-16. The company should have demonstrated leadership in product portfolio, broad-based customer growth, and achieved significant market share growth at the same time keeping a sharp focus on overall profitability in the non-life business.
Eligibility:
  • Non-life insurance companies
Life Insurance Company of the year

The panels will be looking for a company that can: Demonstrate a commitment to meeting customer needs and delivering a high quality of service across all of its activities as part of a broad strategic vision.
A proven track record of success in terms of innovative and profitable expansion, either in existing, or into new, markets.
A business that delivers consistent service in terms of underwriting and claims across all lines of its business. A firm that embraces its broader role in terms of embracing diversity and business sustainability as part of its overall objectives.
This award honours the leading life insurer of the country with overall leadership in revenues, business model effectiveness for the fiscal year. The company should have demonstrated leadership in product portfolio, broad-based customer growth, and achieved significant market share growth at the same time keeping a sharp focus on overall profitability in the life business.
Eligibility:
  • Life insurance companies
Insurance personality of the year

This special award will be presented to an individual who has made an outstanding contribution in the last 12 months, whether through the advancement of the organisation that employs them; or the wider insurance industry.

The winner could be someone who:

Has led a change within a business through their strategic vision and/or a successful acquisition.

Helped the wider sector through their engagement with stakeholders, regulators and politicians to effect a notable change that benefits the industry's standing in the eyes of the public and commerce.

Firms will be able to nominate candidates they think fits this criteria and the panel will determine the winner, which will be announced at the Awards ceremony.
Bancassurance leader award

The Bancassurance Leader award recognizes the efforts of banks in forging strong bancassurance partnerships.
The award-winning bank will have developed bancassurance as a significant distribution channel and leveraged it to achieve extended market reach, creation and distribution of innovative products and better engagement with the bank’s customers, making it a win-win situation for both, the bank and the insurance company.
Eligibility:
  • Banking Institutions
Product innovation award

This Award seeks to honour a life or general insurer that has launched an innovative product setting the benchmark in terms of fulfilling an unmet customer need in the domain. The product innovation, besides being an industry first, should have been well received by the target audience. The Awarding Board, through this award complements the product development thought-leadership of the recipient.
Eligibility:
  • Life companies, Non-life companies, Health Insurance Companies
Best growing company

The panels will be looking for a company that can: Demonstrate a commitment to meeting customer needs and delivering a high quality of service across
A proven track successful record of steady growth and profitable expansion Should have demonstrated leadership in product portfolio and achieved visibility in the market at the same time keeping a sharp focus on overall profitability of the business.
Eligibility:
  • Life companies, Insurance Brokerage, Non-life companies, Health Insurance Companies
Re-insurance company of the year

Awarded to the stand out reinsurer, the Board will be looking for a company with a strong performance who is considered to have helped grow the market, while other key criteria will be new products launched or evidence of excellent client relationships - responding quickly to clients, addressing clients’ needs, etc.
Eligibility:
  • Re-insurance companies
Health Insurance Company of the year

The category is all about recognizing the high levels of professional standards consistently achieved by intermediaries. Organizations, whether large or small, often have complex health care and budgetary needs for their global employees. They rely on those with years of experience successfully operating in today’s intricate, international environment to help them take the best possible care of their employees. We are looking at health care intermediaries and private medical insurers who have health and wellness support and protection available to handle any eventuality
Eligibility:
  • Health Insurance companies
CEO OF THE YEAR

This special award will be presented to a CEO of an insurance company who has made an outstanding contribution in the last 12 months through the advancement of the company that employs him or the wider insurance industry. The winner will be someone who has led a profound change within a business through strategic vision and/or successful merger or acquisition; or has helped the wider sector through his engagement with stakeholders, regulators and politicians to effect a notable change that boosts the industry’s standing in the eyes of the public and insurance market. This award will also consider the outstanding contribution the CEO has made to the success of the insurance industry through his career.
Eligibility:
  • CEOs of Life companies, Non-life companies, Broking firms, Health Insurance companies, and Re-insurance companies
EMERGING BRAND OF THE YEAR

INDIGENOUS INSURANCE COMPANY OF THE YEAR

FASTEST GROWING COMPANY OF THE YEAR

PROMISING COMPANY OF THE YEAR

INNOVATIVE INSURANCE BROKER OF THE YEAR

Special recognition awards