LocationsUNDP’s Innovative and Inclusive Insurance Webinar Explores Solutions to Ghana's Insurance Protection Gap
July 2, 2026
Group photo of participants
As climate change, economic uncertainty, and public health emergencies increasingly threaten livelihoods around the world, strengthening financial resilience has become an urgent development priority. Yet millions of people, particularly low-income households, smallholder farmers, women, and informal sector workers remain without adequate financial protection against unexpected shocks.
In Ghana, where insurance penetration remains among the lowest in Africa, expanding access to affordable and trusted insurance is increasingly recognised as an essential component of sustainable development. Achieving this, however, calls for innovation, strategic partnerships, supportive regulation, and sustained investment in solutions designed around the needs of vulnerable communities.
These issues took centre stage during the Inclusive Insurance Innovation Webinar, jointly organised by the United Nations Development Programme (UNDP) Ghana and the National Insurance Commission (NIC). The event convened policymakers, regulators, insurers, technology innovators, development partners, financial institutions, academia, and entrepreneurs to explore practical strategies for accelerating inclusive insurance across Ghana.
A highlight of the webinar was the presentation by the winners of the Inclusive Insurance Innovation Challenge (3iC)—Agricom, WellMax, and Resolut. Agricom showcased a multilingual digital insurance platform that protects smallholder farmers against climate and agricultural risks. WellMax presented an affordable health and funeral insurance solution that simplifies access to coverage through a mobile-first platform. Resolut demonstrated a flexible insurance platform that enables farmers and rural households to access tailored insurance products based on their income levels. Together, their innovative business models demonstrate how technology and customer-centred design can expand insurance access while addressing critical protection gaps affecting farmers, small businesses, families, and other underserved populations.
Speaking during the webinar, Dr. Amina Sammo, National Coordinator of the UNDP Insurance and Risk Finance Facility in Ghana, stressed that meaningful progress will depend on collective action across sectors.
"Closing the insurance protection gap will require bold collaboration across innovators, the private sector, and government. We must invest in solutions that are simple, trusted, and built to last so that no one is left behind in moments of shock and uncertainty."
Also addressing participants, Stella Jonah, Head of Market Strategy and Innovation at the National Insurance Commission, highlighted the importance of market-led innovation supported by strong institutional partnerships.
"Innovation in insurance must be matched with strong partnerships and a clear understanding of market needs. To close the protection gap, we must design solutions that are practical, inclusive, and capable of earning the trust of the people we serve."
An interactive panel discussion reinforced the need to move beyond pilot initiatives towards sustainable and scalable insurance solutions that deliver measurable impact. Participants emphasised that while innovation is essential, it must be accompanied by enabling policies, adequate financing, digital transformation, and stronger collaboration between government, regulators, insurers, banks, fintech companies, and development partners.
Panelists also highlighted one of the sector's greatest challenges: public trust. Insurance products must be simple to understand, affordable to purchase, reliable when claims arise, and supported by sustained financial literacy and consumer education. Building confidence, they noted, is fundamental to increasing insurance uptake and ensuring that vulnerable households view insurance as a valuable tool for protecting their futures.
The discussions further underscored the important role that the private sector can play in financing innovation and bringing new technologies to market, while governments create regulatory environments that encourage responsible innovation and expand financial inclusion.
The webinar reaffirmed that inclusive insurance is not simply a financial product, it is a powerful instrument for reducing poverty, strengthening resilience, promoting economic inclusion, and protecting development gains from increasingly frequent shocks. As countries seek to accelerate progress towards the Sustainable Development Goals, expanding financial protection for vulnerable populations has become more important than ever.
For Ghana, the path forward is clear. Transforming promising ideas into nationally scaled solutions will require sustained partnerships, strategic investment, supportive public policy, and continued collaboration across the public and private sectors. The country's growing innovation ecosystem demonstrates that with the right enabling environment, inclusive insurance can become a cornerstone of financial resilience.
The lessons emerging from Ghana also offer valuable insights for many developing countries facing similar challenges. Closing the global insurance protection gap will ultimately depend on empowering innovators, strengthening partnerships, and ensuring that financial protection reaches those who need it most, before the next crisis strikes.
The full recorded of the webinar is available on the UNDP Ghana YouTube Channel HERE
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