TVA: Enterprise Insurance Ltd. is celebrating its 100th year anniversary this year. The company has adapted to meet the dynamic demands of the insurance market over the past 100 years. Can you briefly walk us through the journey of Enterprise Insurance Ltd. in the last 100 years?
AAA: The journey has been epic and monumental. I am indeed privileged to be carrying the torch passed on by others long before me who lived under British Colonial Rule. Enterprise Insurance traces its roots back to 1924 in the then Gold Coast, operating as an agency office of the Royal Exchange Assurance Corporation of the United Kingdom. We witnessed the tension of World War II, and the 28th of February Crossroads shooting of ex-service men in 1948.
In 1952, the company was officially registered as an insurance company, providing a full range of life and non-life insurance services. Enterprise experienced the nostalgia of independence, the vibrance of authentic Ghanaian businesses, and the rise and fall and rise of our republics. We broke away from the traditional insurance mould, innovating a workgroup system that catalyzed change. We expanded and evolved to be part of an ecosystem that could serve customers from ‘cradle to grave’. We survived a devastating pandemic and financial sector crisis, navigating unchartered waters of a digital age and constantly adapting to stay relevant. Over the years, the company has evolved, adapting to legislative changes and market dynamics.
In 1977, the company’s name was changed to Enterprise Insurance and in 1990 it became one of the first companies to be listed on the Ghana Stock Ex- change. In 2010, Enterprise Group was formed to be the holding company of Enterprise Insurance and its sister companies namely, Enterprise Life, Enterprise Trustees, Enterprise Properties. Transitions and Acacia Health Insurance were added to the group in 2016 & 2021 respectively.
Without a doubt, we must celebrate this legacy of resilience, growth, and adaptability, but most importantly we will be recognizing all those who helped us get here; our customers, our people and our community.
Today we are proud to say that Enterprise Insurance is the oldest Insurance company and the leader in Ghana’s general insurance industry. Enterprise Insurance is truly a Ghanaian success story.
TVA: The centenary celebration’s theme is “Celebrating our Legacy, securing your future.” How does Enterprise Insurance’s legacy contribute to securing the future, and why is this centenary a significant milestone?
AAA: Our legacy is deeply intertwined with Ghana’s history, and as the oldest insurance company established in 1924, Enterprise has been a pillar in safeguarding the interests of our customers. The theme under- scores our commitment to honoring the legacy we’ve built over the century, while also emphasizing our dedication to securing the future for our customers. It’s not just a celebration; it’s a reflection of our enduring promise to provide stability and reliability in an ever-changing world.
We are not only celebrating the past 100 years, but we are also looking to be there for our customers, our Brokers, Agents, Partners, and Shareholders as we secure the future for the next 100 years and more.
TVA: A century of existence is a notable feat worth celebrating as an institution. Therefore, what are some of the activities lined up for the Centenary Celebration?
AAA: We have several activities lined up for our various stakeholders from Staff, Customers, Brokers, Agents, Corporate partners, and other industry players.
At Enterprise Insurance, we believe in the God factor, as such, as part of our tradition, we started with a Thanksgiving service that was held on Friday, February 23rd, 2024 to appreciate God’s goodness to us for the 100 years and counting.
Also, we have special events for our Brokers & Agents who have been great partners in build- ing our business over the years. For our customers, who have stayed with us through thick & thin, we have various loyalty rewards lined up for them.
Our corporate social investment initiatives will range from community investment programs across the country to one major legacy project which will endure for the next 100 years & more.
We will climax the centenary celebrations with a Grand Ball and launch of our Centennial book which will chronicle the history of one of Ghana’s greatest companies. This will serve as a reference for the public and students of finance and insurance across the country.
TVA: Are there any ‘special’ rewards you have in place for your customers & stakeholders during this centenary celebration?
AAA: Certainly yes! As we speak, we have started the Y’afi nie Motor Insurance promotion. Y’afi nie because, together with our customers, it’s our year to celebrate such a great milestone achieved by an indigenous Ghanaian company.
The promo seeks to reward customers who purchase or renew their motor insurance policies with instant rewards such as free fuel coupons & other gift items. There are also other raffle rewards to be won. The monthly rewards range from various electronic appliances such as laptops, microwaves, tabletop fridges & more. For the grand draw, the winner will drive home a brand-new Nissan Kicks SUV while the 1st & 2nd Runners up will jet-off to Dubai on an all-expense paid trip. This is not the only rewards we are running for the year. We will also reward various categories of custom- ers, Brokers, Agents & partners during the yearlong celebration.
TVA: A century of operations present a rich history. Can you kindly highlight some of the key milestones and achievements that have defined Enterprise Insurance’s journey over the past 100 years?
AAA: Enterprise Insurance, as the leading and oldest Insurance Company in Ghana, has been a trail blazer in many aspects of the industry. Some notable achievements in recent years include:
Enterprise Insurance has been a pioneer in service and product innovation notably, the Same Day Claims Payment initiative and the Third Party Amplified. The first of its kind which has revolutionized Ghana’s insurance industry.
Enterprise Insurance was the first insurance company to be independently rated by the Global Cred- it Rating Agency of South Africa. The company’s current rating is AAA which is the highest on the GCR rating scale.
Enterprise Insurance has consistently been maintained in the CIMG Hall of Fame, General Insurance category making it the only independently rat- ed and Hall of Fame Insurer in Ghana.
Besides, Enterprise Insurance LTD has been recognized for its tremendous contributions to the industry and the economy as a whole and as such received numerous awards & recognitions. Most recent of such awards include:
General Insurance company of the year at the Ghana Busi- ness & Innovation Awards 2023
General Insurance company of the year at the Ghana Business Standards Awards 2023
Indigenous Insurance company of the year at the Ghana West Afri- ca Business Excellence Awards 2023
General Insurance Company of the year, Ghana Insurance Awards 2023
Commercial Line Insurer of the year, Ghana Insurance Awards 2023
General Insurance company of the year, GIIG Awards 2023 Member of the Ghana Club 100
TVA: Being the leader in the General Insurance market in Ghana, can you describe some of the products and services that have given Enterprise Insurance its unique identity among the plethora of insurance companies in the country?
AAA: Enterprise Insurance, being Ghana’s leading private Insurer, pro- vides superior products and services ranging from Motor, Marine, Engineering, Fire and to Specialized Insurance solutions that meet the needs of individual and corporate customers.
As Ghana’s leading private Insurer, our pioneering spirit allows us to continually learn and grow, innovating to build strong partnerships, offering value to our stakeholders, and providing delightful solutions to our cherished customers.
TVA: Enterprise Insurance Ltd. boasts of a 100-year legacy as one of the notable institutions in Ghana. How does this legacy resonate with your customers and distinguishes you in the insurance industry?
AAA: Our legacy is a source of strength for our customers. It represents a century of proven reliability, financial stability, and a deep understanding of our customers’ needs. We’ve consistently evolved to meet changing circumstances, various economic landscapes, and eras, while offering innovative insurance solutions. What sets us apart is our unwavering commitment to service excellence, personalized solutions, and a forward-looking approach to ensure our customers’ future security.
Staying true to our core values of Excellence, Trust, Reliability, Friendliness and Professionalism have also set us apart from our competitors in the industry.
These and other attributes have made us the insurer of choice and the leader in Ghana’s general insurance industry since 1924.
TVA: One key concern that insurance policy holders contend with is the delay in claims processing when a loss occurs. How different is Enterprise Insurance in dealing with claims payment in a market where trust in insurance companies can sometimes be a concern?
AAA: The true measure of an insurance company is its ability to honour the sacred promise of paying claims. Whilst I believe our peers feel the same way, for Enterprise we have been able to prove that we are a brand that can be trusted. In 2022, we paid out about GHS 121 million in claims to over 6,000 customers, and we provide quick and fair claims settlements, giving our customers the peace of mind they deserve. Our Same Day Claims Payment service which was pioneered in 2018 was also an industry-game changer. With this, minor motor claims are paid the very same day they are lodged. It is essentially a counter service, and it has helped immensely to exceed the expectations of our motor insureds and has given us a good number of referrals. This is a testament to our commitment and ability to pay valid claims on time, setting us apart from others in the industry.
For over 14 years, Enterprise Insurance has been independently rated in the ‘A category’ by the Global Credit Rating (GCR) of South Africa. We are proud to have achieved the ultimate rating of AAA, in 2021. Our innovative solutions also set us apart because they have always been a direct response to the voice of the marketplace.
TVA: As often said, innovation drives product development. With the rise of parametric insurance and other innovative products, how does Enterprise Insurance Ltd. intend to stay at the forefront of product development to meet evolving customer needs?
AAA: We are continuously evolving to meet the changing needs of our customers. We invest a lot in researching the experience of our customers, embracing the feedback and knowing that every new customer’s problem or issue is an opportunity to improve on our service delivery. This ultimately helped in developing both new and enhanced products in 2022, like Pet Insurance, for an emerging market of high-end breeds of dogs which are relatively expensive to maintain. We also have the Third Party Amplified and CompExtra, which are enhanced features of the Third Party & Comprehensive Motor Insurance, the first of its kind in Ghana’s insurance industry.
Our pioneering culture was again brought to bear when in 2019 we launched the Enterprise Advantage App which enables customers to seamlessly transact with us through purchases, claims payment or enquiries through our self-service chatbot, Babs.
Notwithstanding the strides we have achieved in the digital world, we continue to invest in digital solutions to make insurance more accessible and convenient. We are actively involved in corporate social responsibility initiatives that positively impact the communities we serve.
Over the years, we have supported accident victims with mobility aids and in partnership with other subsidiaries within the Enterprise Group PLC, we have constructed a 3-classroom block for our immediate neighbor at Accra, High Street; the Bishop’s Mixed Junior High School. We also refurbished the male ward at the Ankaful Psychiatric Hospital in Cape Coast in the year 2022.
Our objective is to be the leader in the insurance industry while also bringing about a meaningful change in the lives of individuals.
TVA: Every organization is in existence for continuous growth, as such, what are some of Enterprise Insurance’s strategic priorities and goals as it enters its next century of operation?
AAA: Our focus remains on innovation, customer-centricity, and adaptability. We’re investing in cut- ting-edge technologies, expanding our range of insurance products, and further strengthening our partnerships. As we step into the next phase, our commitment to securing the future for our customers will continue to drive our initiatives. Expect us to be at the forefront of industry trends, providing even more comprehensive and accessible solutions for the evolving needs of our customers.
TVA: As the Managing Director, what is your vision for the future of Enterprise Insurance, and how do you plan to sustain its legacy?
AAA: My vision for Enterprise Insurance is to get people to believe in the value of insurance and be the benchmark of Leadership and excellence in the insurance industry. Customer focus, Ethical practices and innovation, have been non-negotiable tenets of our success today, and if we continue to remain as agile and adaptable to our ever-changing environment, another century in our evolution would definitely not be beyond our reach. We look forward to celebrating our centenary with thankful hearts, knowing that God’s favour, the trust our customers have placed in us, our hardworking teams and good corporate governance are responsible for where we are today.
TVA: What are your final words to all stakeholders and soon-to-be customers?
AAA: We would like to thank you all for the opportunity to serve you. To our customers & partners who have been with us through thick & thin, we say a big thank you. Without you, there will be no Enterprise Insurance.
Also, we entreat customers and the general public to experience the time tested, truly trusted 100-year legacy of Ghana’s oldest insurance company by reaching us on the Enterprise Advantage App, our website: www. myenterprisegroup.io or directly on 0302634777 for their insurance needs. Enterprise Insurance at 100, Celebrating our legacy, securing your future.
TVA: As the head of Ghana’s leading private insurer, you sit atop a very huge portfolio as your decisions influence the general insurance market. Many are aware of your career credentials but barely know you beyond this. Considering this, journey us through the life of Mrs. Akosua Ansah-Antwi?
AAA: My journey to this point has been far from linear, but I have always believed that at every point in my life, I have been where God wants me to be. He has been my greatest inspiration along with many people, I believe, He brought into my life to help shape my path; from my parents, to my family, to every single boss I ever had.
TVA: What are your fondest childhood memories?
AAA: Going to the British Council library with my mum on Saturdays to read, was the most rewarding part of my week. This was between the ages 6 and 7, which stirred up the love for reading in me.
TVA: Education, unarguably has played a crucial role in your career path. Can you walk us through your academic journey that has brought you to the zenith of your pursuit?
AAA: My educational journey has taken me across continents and through a diverse array of subjects, each step building on the last. It started at Okuapemman Secondary School, where the seeds of my academic curiosity were sown. From there, I moved to the UK for my A-Levels at Notre Dame Sixth Form College in Leeds, which opened my eyes to a wider world of learning.
The University of Hull, UK was my next stop, where I delved into the world of law, earning my LLB. This wasn’t just about studying; it was about beginning to understand the impact of law on society. My journey continued back in Ghana at the Ghana School of Law, where the practical side of legal education grounded me in the realities of the profession.
Seeking specialized knowledge led me to the West African Insurance College in Gambia for a Diploma in Insurance, adding a new dimension to my expertise. Further honing my skills, I achieved the status of Chartered Insurer with the CII in the UK, a testament to my dedication to my profession.
After several years of corporate experience, I went on to get an MSc in Glob- al Business from Salford University, UK blending my legal and insurance knowledge with a broad understanding of international business. This has also been complemented with extensive leadership development in the corporate environment as well.
TVA: Considering your rich experience in the insurance industry, has insurance always been your sure-career path? If not, what would you have desired?
AAA: As a child, I thought being a flight attendant was a fancy job, so that was what I kept saying I wanted to be. But, by the time I started secondary school, my love for reading, my argumentative nature and an interest in fairness and equity pointed me towards the law and when I got the opportunity to read law at A’ levels, outside Ghana, I was certain that I was destined for a career in Law. So, I proceeded to get a degree in law; but, my interest was not in the advocacy aspect of the law. I wanted to be a solicitor-performing legal work without necessarily having to go to court but when I ended up in Ghana for my Professional Law Course and subsequent enrollment as a Barrister at Law and Solicitor of the Supreme Court of Ghana, I decided to look for work as a legal officer with a corporate organization and ended up applying to Enterprise Insurance. Enterprise Insurance at the time did not have an in-house legal department, so I ended up in the claims department and the rest is history.
TVA: Prior to your appointment as the Managing Director of Enterprise Insurance in July 2023, you previously served as the General Manager, Operations and Acting Managing Director. Testimonies reveal your exceptional leadership and expertise qualities, as such, how will you describe your leadership style?
AAA: As a leader, I see myself as a facilitator of change and growth, striving to inspire those around me to achieve more than they think is possible. I’m passionate about creating an environment where everyone feels empowered to contribute their best. I’m also constantly reminded that leadership is a journey, not a destination. It’s about learning from those I lead as much as guiding them.
TVA: What is your management philosophy?
AAA: Here is what I believe – That our people are our greatest asset. It’s important to create the kind of space where everyone’s voice matters, where we can keep learning and getting better together. Everyone deserves a shot at making a difference, but many times I have been told that my standards for accountability are also very high.
TVA: In your experience, what skills does a leader need to drive sustainable change and growth, especially in the case of Enterprise Insurance, as it enters into a new century?
AAA: To drive sustainable change and growth in Enterprise Insurance, I believe a leader needs a blend of deep respect for the company’s legacy and vision.
First, it’s about listening.
Not just hearing, but truly understanding the voices of those who’ve been part of this journey – the employees, the customers, and the community. It’s about building on the trust and relationships that have been the company’s foundation for a hundred years.
Then, there’s adaptability.
The world is changing faster than ever, and we need leaders who can navigate these waters with agility, making informed decisions that balance tradition with innovation.
Courage is also essential.
The courage to make tough choices, to stand by them, and to lead by example, especially when charting new territories. It’s about having the conviction to uphold the company’s values, even when the path ahead is uncertain.
And finally, collaboration.
No leader can do this alone. It’s about empowering others, fostering a culture where everyone feels they have a stake in the company’s future. Because when people come together, united by a common purpose, there’s no limit to what we can achieve.
TVA: Enterprise Insurance marks 100 years of existence this year. How does it feel to be at the helm of affairs at such a historic moment in the life of Ghana’s leading private insurance company?
AAA: It’s an extraordinary honour and a profound responsibility to be at the helm of affairs. Reflecting on a hun- dred years of service and leadership in Ghana’s insurance industry, I’m reminded that I stand on the shoulders of giants. The visionaries who laid the foundation of this company, the generations of workers who built it up with their sweat and perseverance, and the families and businesses that have placed their trust in us – they are the true architects of this legacy. So, while I am proud to be lead- ing at this historic moment, I am even more honoured to be part of a commu- nity that has, together, built something truly enduring, that Ghana can boast of.
TVA: When Akosua isn’t working, what does she do to relax and what are your hobbies?
AAA: Watching movies or series on Netflix, listening to an audio book or cooking, travelling to create fun memo- ries with my family.
TVA: What is your favorite meal?
AAA: Boiled green plantain and Kontomire or garden eggs stew.
TVA: What genre of music do you love the most and ‘jam’ to?
AAA: Highlife- I enjoy listening to Daddy Lumba and Kojo Antwi. And for Gospel Music, I enjoy both local and foreign songs.
TVA: Enterprise @100 will go down the memory lane with some definitive memories. What would you want it to be remembered for after 100 years?
AAA: Well, a 200-year old legacy would definitely be an incredible story to write, and I pray that our story of in- novation, adaptability and resilience echoes into the future, on the lips of the next generation of customers and in the ref- erences of business school case studies.
TVA: As Enterprise Insurance celebrates its centenary, some persons must have contributed to the success story. Being behind the wheel in this august journey, what messages do you have for them?
AAA: To the Board of Directors:
Let me express my deep appreciation for the constant support, insightful guidance, and forward-thinking leadership you’ve provided throughout our journey of a hundred years. Your dedication has been instrumental in steering Enterprise Insurance towards excellence, sustainability, and leadership.
To the Management and Staff:
Your dedication, hard work, and pas- sion have been the cornerstone of our success. Together, we’ve achieved remarkable milestones and weathered challenges with resilience. Let’s continue to foster a culture of teamwork, excellence, and innovation as we embark on the next century of growth and success. I am also grateful to my predecessors, former staff & pensioners (those alive and those who have passed on) for the strong foundations you laid.
To our Dedicated Agents:
Our gallant frontliners who work tirelessly to represent and protect our brand in the market place, we express our profound gratitude.
To our Brokers and Partners:
Your support in educating the public to believe in insurance and the way you complement the value we create for our customers deserves great commendation.
To the Insuring Public:
We are immensely grateful for your trust and loyalty over the past century. Your confidence in Enterprise Insurance drives us to continually raise the bar in delivering exceptional service and value. Rest assured, we remain committed to protecting your interests and exceeding your expectations.
To the Regulator and other Players:
We appreciate your collaboration and constructive engagement in ensuring a robust and sustainable insurance sector. Your oversight and partnership have been crucial in maintaining integrity, stability, and trust in the industry. Let’s continue to work together towards advancing the interests of all stake- holders and fostering a conducive environment for growth and innovation.
TVA: What will be your resounding advice to the youth as they envision to soar high as you have?.
AAA: To all the young people out there with dreams of reaching great heights, here’s what I’d say:
First, it is important to keep your faith and trust in the Lord God Almighty who will always lead you on the path of life.
In addition, let your curiosity guide you, let resilience be your foundation, and never stop learning. Look for every chance to expand your understanding, to pick up new skills, and to push yourself beyond the comfortable boundaries of what you know. It’s about nurturing a mindset that sees growth at every turn, understanding that setbacks are not the end but rather the landmarks on your journey to success. Keep pushing through, no matter the hurdles that come your way.
Remember, achieving success isn’t just about climbing to the top of your field; it’s about the impact you make and the legacy you leave that lights the way for others. So, dream without limits, commit to your goals with all your heart, and never underestimate the transformative power of passion, perseverance, and a clear sense of purpose.