The Deputy Commissioner of the National Insurance Commission (NIC), Bernard Ohemeng Baah, has emphasised the importance of innovation, cybersecurity, and resilience in the insurance sector.

Speaking at the 8th Ghana Insurance Awards, Baah urged insurance companies to leverage the government’s newly launched 24-hour economy, highlighting that the three-shift system offers insurers the opportunity to reimagine their business models and adapt to evolving consumer needs.

He also stressed the need for companies to strengthen cyber resilience, stating that as the sector increasingly relies on technology, firms must invest in systems that safeguard operations and customer data.

“As we harness the transformative power of technology to advance our operations, it's crucial that we also enhance our cybersecurity frameworks,” he said.

The 2025 Ghana Insurance Awards (GIA), powered by PayAngel, honoured 16 companies and 6 individuals for their outstanding contributions to Ghana’s insurance sector.

The annual event seeks to celebrate achievements and innovations that drive excellence across the industry, spanning corporate social responsibility, product innovation, professional standards, and leadership.

This year’s event featured high-profile speakers including Abdul Razak Baaba, Deputy CEO of the Ghana Investment Promotion Centre (GIPC); Spencer Quaye, Board Chairman of the DVLA; Rev Eric Kwapong, founder of Rev Kwapong Ministries; and several CEOs.

They shared insights on how digital innovation, sustainability, and regulatory compliance are shaping the future of Ghana’s insurance sector and urged stakeholders to embrace these pillars for growth and resilience.

Richard Abbey Junior, Events Director at Xodus Communications Limited, highlighted the awards’ significance.

“The Ghana Insurance Awards remains a pivotal platform for fostering dialogue, facilitating networking, and promoting best practices within the industry. The annual competition consistently yields innovative products, which is encouraging. To enhance public safety, we recommend mandating public liability insurance for event organisers,” he stated.