Insuring Women in Ghana with Activa International Insurance Company

Activa International Insurance Company Ghana (AIIG), a non-life insurance company, partnered with International Finance Corporation in 2018 to develop a strategy to actively expand its services to Ghanaian women. AIIG had historically been a corporate and SME insurer but sought to diversify its offering to include Micro, Small, and Medium Enterprises (MSMEs) and retail lines of business. The efforts were aimed at supporting AIIG in expanding access to insurance services to the wider population while securing its role in the highly competitive market as part of its diversification strategy. Recognizing the first-mover advantage in Ghana’s women’s insurance market, AIIG took guidance from IFC, and developed targeted insurance solutions for Ghanaian women. The project had the support of the Women Entrepreneurs Finance Initiative (We-Fi).

In 2019, the company launched the AIIG Activ’Lady Program, offering targeted non-life insurance products and services for women entrepreneurs and market traders. This case study provides a deep dive into AIIG’s women’s insurance journey and progress so far. It can serve as inspiration for insurers in other emerging markets that might consider offering insurance solutions for women-led micro- and small-enterprises in developing countries, whether walking the path on their own or with the support and guidance of an international partner like IFC.

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Source: IFC