Ghana Post, Star Microinsurance launch project

As part of the agreement, Ghana Post is to provide counter space and supervisors at selected post offices to sell insurance policies to Star Microinsurance clients, while Star Microinsurance will only see to policy administration.

Ghana Post has about 350 offices across the country and 300 agencies, thereby creating a massive network. They have a unique payment platform, the cash post, across the country. They have also been partnering with other organisations, making their experience of working with other third parties a profitable one.

The Minister of Communications, Dr Omane Boamah, in a speech read on his behalf by the Director of Human Resource and Development of the Ministry of Communication, Mrs Charlotte Morgan-Asiedu, stated that with the advent of new and emerging technologies, Ghana Post must take advantage of the numerous opportunities to re-assess itself as a major player and promoter of economic development of the country.

"Strategic partnerships focus on developing external relationship that will lead to new business development and bring an instant competitive advantage to businesses to expand into new markets.

The ministry will provide the necessary support that will upgrade Ghana Post to the level of an effective development tool for rendering service to the entire polulace,' the Minister added.

The Managing Director of Ghana Post, Mr Abdulai Rafui, said, " In the last couple of years, Ghana Post has been making strategic moves in transforming the fortunes of the company in the face of stiff competition and the introduction of technology into postal operations.

'One of such moves is the forming of partnerships and alliances to move our business forward, which is why Ghana Post is collaborating with Star Microinsurance company to provide microinsurance products to the low income group of our society.'

The Executive Director of Star Microinsurance, Afua Boahemaa Donkor, said microinsurance catered for the needs of the informal sector. Unlike the traditional insurance, 'microinsurance provides affordable premiums which are collected more frequently and distributed through a variety of channels that are accessible to the informal sector".

The ceremony was chaired by Mr Oppong Yeboah, Executive Vice Chairman of Star Life Assurance.