The Chairman of the Insurance Awareness Coordinators Group (IACG), Mr. Wilson Tei, has underscored the urgent need to promote inclusive insurance in Ghana, particularly targeting young people and micro enterprises.

He stressed that the future of the insurance sector depends on effectively engaging the youth and dispelling long-standing misconceptions and mistrust surrounding insurance.

Mr. Tei explained that it is essential for stakeholders to channel public concerns and feedback to the Ghana Insurers Association (GIA) and the National Insurance Commission (NIC) — the regulator of the insurance industry.

According to him, continuous public education on the value and benefits of insurance remains key to building trust and expanding coverage nationwide.

He made this comment at the climax of the National Insurance Debate Challenge held in Accra on Friday, October 10, 2025

Highlighting the major hurdles confronting the industry, the Chairman pointed to the low penetration of insurance within Ghana’s economy and the limited attention given to micro businesses, which contribute about 80% of national economic activity.

He noted that one of the biggest challenges faced by these enterprises is the difficulty in paying premiums consistently, which often leaves them unprotected against unforeseen risks.

Mr. Tei further emphasised that involving young people in national insurance discussions is vital for advancing inclusive insurance.

“Students come from diverse backgrounds and can play a transformative role by educating their parents and communities about the importance of insurance,” he noted.

To that end, the Chairman announced the launch of a new annual initiative aimed at involving tertiary students in the national insurance dialogue.

The initiative seeks to educate and empower students with knowledge about the benefits of insurance while connecting them directly to industry opportunities.

Mr. Tei expressed confidence that this youth-driven engagement will not only broaden public understanding of insurance but also shape the next generation of leaders who will drive innovation and inclusivity within Ghana’s insurance sector.