How Tech Startups Are Changing Ghana’s Insurance Landscape

From buying motor insurance with a USSD code to accessing health cover through the MTN MoMo app, technology startups are making insurance faster, cheaper, and more accessible than ever before. This ASJ article explores how these insurtechs are transforming Ghana’s insurance industry.

Introduction

For years, buying insurance in Ghana meant paperwork, queues, and waiting. You had to visit an office, fill out forms, and hope your policy was processed correctly. For many people—especially those in the informal sector—this was simply too much trouble.

But that is changing. A new wave of technology startups, known as insurtechs, is shaking up the industry. They are using mobile phones, artificial intelligence, and digital platforms to make insurance available to anyone with a phone.

And the regulator is encouraging this. The National Insurance Commission (NIC) has granted sandbox innovation licences to five insurtech companies, allowing them to pilot innovative products . This is part of a broader push to increase insurance penetration, which currently stands at only about 2% of the population .

This ASJ article explores the key players, the innovations they are bringing, and how they are changing insurance for ordinary Ghanaians.

The Regulatory Push for Innovation

Before we look at the startups, it is important to understand the role of the regulator. The National Insurance Commission has created a Regulatory Sandbox—a controlled environment where new insurance technologies can be tested .

The first cohort of five insurtechs was admitted to the sandbox. These include Figtech (an insurance aggregator), Moovon Insure (flexible premium financing), ETAP (usage-based motor insurance), Trade Guarantee Limited (pay-as-you-go motor insurance), and Red Pear (an aggregator platform) .

These companies have twelve months to operate within the sandbox, receiving support and guidance from the NIC . This approach shows that the regulator is serious about encouraging innovation while still protecting consumers.

How Insurtechs Are Changing Motor Insurance

Motor insurance is one of the most common types of insurance in Ghana. It is also one of the areas where technology is having the biggest impact.

ETAP-Hollard: The First Insurtech Operational License

Nigerian fintech startup ETAP has secured Ghana’s first-ever insurtech operational license from the NIC . This license allows the company to process claims, collect premiums, and provide auto insurance products directly .

ETAP is partnering with Hollard Insurance Ghana to deliver what they call ETAP-Hollard . The partnership will introduce auto insurance for cars, trucks, motorcycles, and tricycles .

What makes ETAP different? It uses machine learning to build intelligent risk profiles for each driver . This means safer drivers can get lower premiums. The driving experience is also gamified—drivers earn Safe Driving Points that can be exchanged for shopping vouchers, fuel, or cinema tickets .

Drivers have flexible coverage options, including daily, weekly, monthly, and quarterly plans . Businesses can also manage up to 1,000 vehicles in their fleet on one platform .

BeINsured: The USSD Auto Insurance Marketplace

In February 2025, CalBank PLC launched BeINsured, a digital insurance marketplace accessible through the MTN MoMo shortcode *170# .

The platform does not require internet access. Vehicle owners can explore, purchase, and renew their policies using just a mobile phone . They can compare policies from multiple insurers, choose flexible payment plans, and complete transactions seamlessly .

Insurance companies already listed on the platform include GLICO Insurance, Rudder Insurance Brokers, Donewell Insurance, Hollard, Star Assurance, and Enterprise Insurance .

Samuel Amanor, CEO of BlueSPACE Financial Cloud, explained the importance of this: “There are about 2.8 million to three million vehicles in Ghana, and nearly half belong to the informal sector—Uber drivers, trotro operators, and small transport businesses. They don’t have time to visit a bank branch or download multiple apps” .

aYo Ghana: Mobile Microinsurance

aYo Ghana has insured over 8.5 million lives and paid more than GH¢35 million in claims . The company’s products include Recharge with Care, Family Cover, Annual Cover, MedCover, and Pay & Drive motor insurance .

Customers can register and file claims via USSD (*296#), MTN MoMo integrations, or a multilingual call centre . Many claims are settled within five working days .

The company won four awards at the 2025 National Technology and Communications Awards, including Mobile Insurance Innovation of the Year .

How Insurtechs Are Changing Health Insurance

Health insurance is another area where technology is making a difference.

DOSH Health Insurance and MTN MoMo

In December 2025, DOSH Health Insurance partnered with MTN MoMo to launch a digital health insurance solution directly through the MoMo App . This marks the first time private health insurance has been integrated into a mainstream digital financial platform in Ghana .

The integration eliminates paperwork and long processing times. Users can subscribe, manage their coverage, and access services seamlessly through the app .

Frank Augustine Dagbui, CEO of DOSH, said: “Too many people delay care or face financial strain simply because health insurance feels complicated or out of reach. DOSH Health Insurance was created to change that” .

The Ministry of Health welcomed the initiative, noting that it supports the government’s drive toward Universal Health Coverage .

Figtech: Life Insurance Aggregator

Figtech Limited, a digital insurance intermediary admitted into the NIC’s Sandbox Programme, has developed a mobile application that uses artificial intelligence to provide personalised insurance recommendations .

The platform allows users to compare policies from multiple providers, review premiums and coverage options, and obtain coverage within minutes .

In February 2026, Enterprise Life Assurance partnered with Figtech to expand digital access to life insurance across Ghana . Jerry Kwame Hodasi, Senior Manager for Business Development at Enterprise Life, said: “This partnership will simplify insurance processes, reduce cost barriers and make protection more convenient for our customers” .

Other Insurtech Innovations

Clickinsure: Fully Digital Brokerage

Clickinsure has received initial regulatory approval from the NIC to become Ghana’s first fully digital insurance brokerage platform . The platform, developed in partnership with Apex Insurance Brokers, aims to enable 100% digital distribution of insurance across the country .

Activa’s Digital Transformation

Activa International Insurance Ghana, the 7th largest non-life insurer, has introduced digital channels including an online platform, mobile access, and USSD services .

Rukaya Ibn Suleman, Digital Marketing Officer at Activa, noted: “We are seeing a clear shift in how customers interact with insurance. People want speed, simplicity, and transparency. Digital platforms are helping us meet these expectations” .

The Impact on Ordinary Ghanaians

So what does all this mean for you? Here are the key benefits:

Convenience: You can now buy insurance from your phone without visiting an office. No queues. No paperwork .

Choice: Platforms like BeINsured and Figtech let you compare policies from multiple insurers .

Flexibility: ETAP offers daily, weekly, and monthly policies. This is especially useful for people who cannot afford a full annual premium .

Rewards: ETAP rewards safe drivers with shopping vouchers and other benefits . aYo’s products are embedded in everyday activities like mobile money transactions .

Transparency: Digital platforms allow you to track claims and see exactly what you are covered for .

Lower Costs: By reducing paperwork and administrative costs, insurtechs can offer more affordable premiums .

What the Experts Say

The regulator is optimistic. Kofi Andoh, Commissioner of Insurance, said: “As a forward-looking insurance regulator, the NIC is committed to enabling market players leverage innovation and technology for market development” .

The Ghanaian insurance market is seen as having substantial growth potential. Factors such as increasing financial literacy, economic growth, and regulatory reforms are expected to drive higher insurance adoption .

Elias Omondi, Principal for Innovation at FSD Africa’s Bimalab programme, praised Ghana’s approach: “Innovations such as insurtechs are dealing with challenges by offering exciting modern products, expanding coverage to underserved communities and lowering service costs. A supportive regulatory regime is key” .

ASJ Conclusion

Tech startups are changing Ghana’s insurance landscape in significant ways. They are making insurance more accessible through mobile phones, more affordable through flexible payment options, and more transparent through digital platforms.

The regulator is playing its part by creating a sandbox that allows innovation to flourish while protecting consumers. And established insurers are partnering with startups to bring new products to market.

For ordinary Ghanaians, this means that insurance is no longer a complicated and expensive product for the few. It is becoming a simple, affordable, and accessible tool for everyone.

Quick Facts

Frequently Asked Questions

1. What is an insurtech?
An insurtech is a technology company that uses digital tools and innovation to improve how insurance is distributed, purchased, and managed. In Ghana, these include companies like ETAP, DOSH, and Figtech.

2. How can I buy insurance using my phone?
You can dial *170# for BeINsured to buy motor insurance , use the MTN MoMo App for DOSH health insurance , or dial *296# for aYo products .

3. What is the regulatory sandbox?
It is a programme by the National Insurance Commission that allows startups to test innovative insurance products in a controlled environment for 12 months before possibly receiving full licences .

4. Who is the first insurtech to get an operational licence in Ghana?
ETAP, a Nigerian startup, secured Ghana’s first-ever insurtech operational licence from the NIC .

5. Can I get affordable daily or weekly insurance?
Yes. ETAP offers daily, weekly, monthly, and quarterly motor insurance plans .

6. What is BeINsured?
BeINsured is Ghana’s first USSD auto insurance marketplace, launched by CalBank in partnership with MTN MoMo and BlueSPACE. It allows vehicle owners to purchase insurance using the *170# shortcode .

7. How do I buy health insurance from DOSH?
You can access DOSH Health Insurance through the MTN MoMo App. You can subscribe, manage your coverage, and access services directly on your phone .

8. What is aYo Ghana?
aYo Ghana is a digital microinsurance company that has insured over 8.5 million lives. It offers products like Recharge with Care, Family Cover, and Pay & Drive motor insurance through mobile channels .

9. How does ETAP reward safe drivers?
ETAP uses machine learning to assess driving behaviour. Safer drivers earn Safe Driving Points, which can be exchanged for shopping vouchers, fuel, cinema and concert tickets, and other rewards .

10. How can I compare insurance policies from different companies?
Platforms like Figtech allow you to compare policies, review premiums and coverage options, and obtain coverage within minutes . BeINsured also allows comparison of motor insurance policies

Source: Accra Street Journal 

Last Updated on August 18, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

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