By Ransford Oduro-Mikado | Sales and Marketing Manager, Trans-National Insurance Brokers Ltd
Ghana’s insurance penetration rate, still hovering around a meagre 1%, remains one of the lowest in sub-Saharan Africa. While the regulator and underwriters continue to push for greater adoption, one critical segment of the ecosystem has yet to fully embrace its strategic role: insurance brokers.
As the Sales and Marketing Manager for Trans-National Insurance Brokers Ltd, I have seen firsthand how brokers can serve as more than just intermediaries. We are trusted advisors, educators, and customer champions. And if Ghana’s insurance industry is to grow meaningfully, brokers must move from passive facilitators to proactive leaders.
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Brokers: More Than Middlemen
The traditional view of brokers as mere facilitators of policies is outdated. Today, a well-informed broker bridges the gap between complex insurance products and a largely uninsured public that is wary of financial institutions.
We know our clients — from SMEs to market women, startups to retirees. We understand their risks, and we know how to match them with the right protection. That level of insight and trust is something no algorithm or Chabot can yet replicate, and it’s time we leveraged it intentionally.
One of the main barriers to insurance uptake in Ghana is lack of awareness and trust. Brokers are uniquely positioned to close this gap. Unlike agents tied to specific companies, brokers offer objective, comparative advice, which makes us ideal educators in communities, workplaces, and social groups.
We must take this role seriously — not just in urban offices, but also across local markets and digital spaces where misinformation and apathy often thrive.
Technology Is an Opportunity, Not a Threat
There is growing fear that the rise of mobile insurance platforms and direct-to-consumer InsurTech will displace brokers. I see it differently. Technology gives us tools to reach more people, process claims faster, and educate more widely. A smart broker in 2025 must be digitally literate — from WhatsApp advisory to CRM automation to Zoom onboarding.
At Trans-National Insurance Brokers Ltd, we are increasingly investing in digital platforms that serve clients on their terms — fast, simple, and mobile-friendly. It is no longer enough to be knowledgeable; we must be accessible.
The Case for Broker-Led Advocacy
While insurers and the National Insurance Commission (NIC) have done commendable work in promoting microinsurance and enforcing mandatory policies like motor third party, more advocacy is needed at the grassroots level. That advocacy must come from brokers — the boots-on-the-ground who interact with clients daily.
It’s time brokers formed joint industry advocacy groups, partnered with schools and community associations, and sponsored public dialogues on the benefits of insurance. Our visibility will breed credibility, and credibility is the currency of trust.
The Call to Action
Ghana’s insurance industry stands at a crossroads. We can continue business as usual — quietly processing policies and watching the statistics stagnate — or we can step up.
As brokers, we must lead the charge.
We must evolve from facilitators to educators, from service providers to policy advocates, and from quiet back-office agents to frontline champions of financial security.
The opportunity is enormous. The need is urgent. And the responsibility, now more than ever, is ours.
About the Author:
Ransford Oduro-Mikado is the Sales and Marketing Manager at Trans-National Insurance Brokers Ltd, with over a decade of experience in insurance brokerage, customer engagement, and corporate risk advisory. You can reach him on WhatsApp on 053-016-8667 for any insurance enquiry and he will attend to you.
A Video By Ransford Oduro-Mikado Below:
Last Updated on July 12, 2025 by Samuel Kwame Boadu
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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.
