Enterprise Life Marks 25 Years With Pledge to Drive Innovation

Source: Ghanaian Times

Enterprise Life, a member of the Enterprise Group, has reaffirmed its commitment to driving innovation in Ghana's life insurance industry as it marks 25 years of operations.

The company says it will continue to develop solutions that respond to the changing needs of Ghanaians while strengthening its position as a leader in the life insurance market.

The General Manager for Distribution at Enterprise Life, Mr Alex Baah Inkoom, gave the assurance in an interview with The Ghanaian Times after the company's 25th Anniversary Worship and Thanksgiving Service held in Accra on Friday.

The service, held on the theme: 'Reflection, Gratitude, Purpose, Faith and Stewardship - Psalm 103:1,' featured melodious gospel renditions, including a performance by award-winning gospel musician, Diana Hamilton.

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Mr Inkoom described the anniversary as a significant milestone, recalling that Enterprise Life received its operational licence on September 11, 2001 -- the same day the world witnessed the tragic September 11 terrorist attacks in the United States.

"It's a very unique day for us. In some aspects, it is a reminder of a bad precedent, but on the other hand, it is very significant because that was the day we received our licence to commence operations," he said.

He noted that over the past 25 years, the company had touched more than three million lives through the various insurance solutions it offered.

"We offer solutions for different segments of the market, from the high-end all the way to the informal sector. We also have solutions for Ghanaians living abroad who want to provide cover for their loved ones in Ghana," Mr Inkoom said.

He said the company's growth had been driven largely by innovation and its ability to listen to customers and develop products around their needs.

"We are unique in the market because our solutions are clearly co-created with our customers. That enables us to address what customers are actually looking for," he stated.

Mr Inkoom said Enterprise Life had also pioneered the use of life planners across the country, making its services accessible in communities throughout Ghana.

He disclosed that the company had maintained its position as the number one life insurer in Ghana for the past 11 years.

He revealed that as of June this year, the company had paid about GH¢653 million in benefits and claims.

"Life insurance is best experienced at the point of claim, and so we are in the business of paying claims -- legitimate and rightful claims," he said.

The Managing Director of Enterprise Life, Mr Francis Akoto Yirenkyi, expressed gratitude to God, saying the company's 25-year journey would not have been possible without divine favour and protection.

"God has sustained our business for the past 25 years and preserved our families. He has seen us through many seasons of success and failures and periods of uncertainty," he said.

Preaching on "Audacious Faith", the General Superintendent of the Assemblies of God, Ghana, Reverend Dr Stephen Yenusom Wengam, urged the company and its stakeholders to remain bold and courageous in pursuing their goals.

Drawing lessons from Benaiah in 2 Samuel 23:20-23, he described audacious faith as fearless, adventurous and willing to take risks.

"God can do more abundantly and exceedingly far more above what we think He can do," Rev. Dr Wengam said.