SIC Life held its maiden Sales Conference for its Sales Executives at the plush Serene Hotel at Ho in the Volta Region from 21st – 24th August, 2019.

 

The sales executives had previously been holding conferences and seminars sponsored by their various unions and supported by the organization.

 

The conference themed, “Premium Mobilisation – The Role of the Agent” had the Volta Regional Minister (Hon. Archibald Letsa), the Commissioner of the National Insurance Commission (Mr. Justice Yaw Ofori), the Board Chairman (Mr. Akwasi Aboagye Atuah) other Board of Directors, the Managing Director (Mrs. Elizabeth Wyns-Dogbe), the Deputy Managing Director, Chief Finance Officer, Chief Operations Officer, National Sales Manager, Head of Corporate Services Dept., Head of Human Resource/Administration (Mrs. Mercy Addai), Head of Agency Administration (Mrs. Anna-Roddy Dadzie), Head of Corporate/Group Business and other Managers were in attendance. Also in attendance were the Executives and some members of the Association of SIC Agents (ASICA) and SIC Life Association of Sales Executives (SICLASE).

 

To start with, Hon. Archibald Letsa (Volta Regional Minister) welcomed the SIC Life family and expressed his appreciation to Management for choosing the regional capital, Ho to host its maiden Conference and he was hopeful that, the choice of Ho translates into many successes for SIC Life in the years ahead.

 

He stressed on the need for insurance in the light of life exigencies but showed dissatisfaction in the penetration of insurance in the economy. This he suggested could be addressed through constant public education and promotion by which prospective clients would understand the usefulness and benefits of the concept of insurance policies.

 

Hon. Letsa again commented on claims challenges faced by some insureds. This he said has given negative image to the industry and he charged that the right measures are taken to curtail the menace.

He lauded the good works of the Company by saying that “the credibility of SIC Life is undoubtedly unquestionable, and this has put the company on a high pedestal of excellence which is unassailable by other competitors in the market.

The Regional Minister gave credit to Management for holding the National Sales Conference as it is an indication of the “commitment of this company towards gaining more grounds and greater market share”.

Finally, Hon. Letsa entreated all participants to find time to enjoy their short stay in the beautiful, clean and serene city which offers a wide variety of local cuisines for entertainment and refreshment.

The Commissioner of Insurance, Mr. Justice Yaw Ofori, stressed on the urgent need for insurance companies to be more efficient, innovative and find new ways to demonstrate their value and relevance. This he attributed to the entry of multinational life assurance companies which has made competition keener.

 

He said “It is in these current competitive market conditions that most resilient and innovative companies will excel and these competitive times, therefore, demand every ounce of tenacity, skills and creative thinking, to succeed,”  

 

Mr. Ofori added that the National Insurance Commission is committed to implementing various directives including market conduct rules for microinsurance and mobile insurance which will sustain the growth of life insurance companies.

 

In his remarks, he informed participants to take advantage of a specially designed agency refresher program at the Ghana Insurance College for licensed agents as well as an agency certification program for new agents.

 

The Board Chairman of SIC Life, Mr. Akwasi Aboagye Atuah warmly welcomed the various stakeholders to the maiden sales conference which was a special occasion to celebrate the achievements and dedication of the sales team in ensuring the sustainability of the Company.

 

He recognized the concerted efforts of the Association of SIC Agents (ASICA) and SIC Life Association of Sales Executives (SICLASE) for being the mouth piece of the sales force on various platforms. Mr. Atuah added that, the major aim of unions and associations has been to hold the fort in bargaining for higher commission rates and conditions of service. He was however emphatic that, for businesses to thrive in the twenty-first century, stakeholder groups like employee associations and unions should “align the people’s collective bargaining power towards sales & business growth for our collective good.”

 

Mr. Atuah entreated members of ASICA and SICLASE that their activities will enhance growth, heighten company image/brand, increase customer focus and soar the overall financial performance of the Company.

 

In her welcome address, an elated Managing Director mentioned that last year was the year the Company made its highest profit in its history regardless of the numerous challenges faced. This she attributed to the hardwork of the sales executives. She urged them to keep doing the good work since an increase in premium presupposes high commission for the agent.

 

Mrs. Wyns-Dogbe added that, “the Company is more than ready to take over its rightful position in the industry”. The Company is ready to face increasing and aggressive competition backed by professionalism, integrity, innovativeness, customer focus and overall, concerted efforts is expected from the sales team and entire staff of the Company.

 

She said the National Insurance Commission (NIC) has approved all the products the Company presented and “we are more than fired up to take over the industry”.

The conference was meant to reward seventy (70) of its sales executives with travel packages, certificates of recognition and cash prizes.

 

The Managing Director ended her speech by entreating the sales force to work tirelessly in the few remaining months of the year to enable the Company duly organize the 2nd edition of the conference in 2020.

 

Furthermore, the National Sales Manager, Mr. Stephen Kyeremateng said he believes the conference will re-energise the sales executives to improve upon their performance in the coming years by strategically penetrating the life insurance market in their usual business acquisition efforts.

 

Moreover, Mr. Isaac K. Amanor-Ofori, President of ASICA expressed gratitude to Management who dreamt and mooted the wonderful idea.

He continued that, “an unexamined life, is not worth living”, and so it is with any institution intending to soar beyond the skies.

Mr. Amanor-Ofori finally congratulated Management for repackaging some of the Company’s products and retraining the sales force to effectively sell them.

 

On his part, Mr. Felix Ennin, President of SICLASE thanked Management for bringing all stakeholders together which clearly demonstrates that it is leaving no stone unturned in building bridges to ensure the attainment of the goals that it has set for itself in the years ahead.

Mr. Ennin added that, he can “really sense the signaling of a new beginning not only for agents who have made it to the top, but also for those aspiring for such an attainment.”