Driving Financial Inclusion Through Innovation: 3IC Demo Day Showcases the Future of Inclusive Insurance in Ghana

August 7, 2025

Four people in matching T-shirts proudly hold an award during a ceremony. — Team from the Agricom Assurance receiving an award from the Commissioner of Insurance, Dr. Abiba Zakariah. The Agricom team emerged as the overall winners

Photos @Ernestina Ocansey/ UNDP Ghana

The Inclusive Insurance Innovation Challenge (3IC) Demo Day, jointly organized by the United Nations Development Programme’s (UNDP) Insurance and Risk Finance Facility (IRFF), Ghana, and the National Insurance Commission (NIC), brought together innovators, policymakers, and insurance stakeholders for a grand showcase of groundbreaking solutions aimed at transforming Ghana’s inclusive insurance landscape.

The event marked the culmination of a nationwide search for bold, practical, and scalable ideas that could make insurance more accessible, affordable, and relevant for underserved and vulnerable populations. Ten finalists were selected to pitch their solutions, each addressing real gaps in the market.

“Today marks the height of an exciting journey that began with a bold vision to uncover and empower groundbreaking solutions that make insurance more accessible, affordable, and impactful for marginalised communities. This is more than a competition. It is a movement that sparks innovation, drives inclusion, and builds resilience,” said Rita Apau, Head of Insurtech and Innovation at NIC, as she opened the day’s proceedings.

A woman stands at a podium speaking, with banners in the background from various organizations. — Rita Apau, Head of Insurtech and Innovation at National Inclusive Commission

Since 2022, UNDP Ghana, through its Insurance and Risk Finance Facility (IRFF), has been supporting efforts to increase insurance penetration in Ghana, particularly among low-income and climate-vulnerable groups. Dr. Amina Sammo reaffirmed this commitment at the Demo Day, emphasizing that insurance must be seen not as a luxury but as a powerful development tool. “Today, we celebrate innovation, resilience, and capacity building by spotlighting homegrown innovators creating inclusive insurance solutions. This is about ensuring no one is left behind as we work toward achieving the SDGs,” she added.

UNDP Ghana_IRFF.Jpeg — Dr. Amina Sammo, Inclusive Insurance project officer, delivering her remarks

Speaking to both the finalists and the broader insurance industry, the Commissioner of Insurance, Dr. Abiba Zakariah, expressed admiration for the fresh energy the youth brought to the challenge. “I am glad to see that Gen Zs have answered our call, bringing fresh creativity and bold ideas to shape the future of Insurance. It is evident that this is the time to lead with integrity and make a meaningful difference.”

Speaker at a podium presenting at an event, with blue and white decorations in the background. — Commissioner of Insurance, Dr. Abiba Zakariah, giving her remarks

Among the ten finalists, three teams emerged as winners, with innovations that promise to make lasting contributions to inclusive insurance in Ghana. Agricom Assurance was named the overall winner. Described as “the ones that will feed us,” Agricom presented an innovative solution tailored to smallholder farmers, offering insurance protection against drought, pests, disease outbreaks, droughts, and floods. Notably, the platform is designed to operate in multiple local dialects, ensuring accessibility for farmers across linguistic and literacy levels.

The first runner-up was WellMax Inclusive Insurance, which developed an ultra-affordable product focused on hospitalization and funeral care. For just GHS40 a year, users can access coverage through a simple 5-step mobile process, either on their own or with the help of a trusted agent.

IPAP Resolut was named the second runner-up for their Inclusive Insurance Product Adaptation Platform, a flexible, customer-centric solution designed to help farmers and their children access insurance based on their income levels. With options like “Wo Daakye Boafo” and “Anidaso” Policy at GH₵100 per month, and “Banbo Pa” at GH₵40 per month, IPAP offers a tiered model that makes insurance both practical and relevant for rural households.

In addition to the pitches and awards, the event also celebrated the graduation of sixteen (16) first cohort of Inclusive Insurance Master Trainers from Ghana Insurance College. These graduates have undergone specialised training to become champions of inclusive insurance, equipped with the knowledge and tools to deliver accessible and relevant insurance solutions to underserved communities. Supported by UNDP Ghana through its Insurance and Risk Finance Facility (IRFF), this initiative underscores a strong commitment to building local capacities and expertise that can drive innovation, deepen inclusion, and ensure that no one is left behind on the path of resilience.

As the day drew to a close, one thing was clear: 3IC is more than a platform for competition. It is a catalyst for change. Together with NIC and other partners, UNDP Ghana remains committed to fostering innovation that protects livelihoods, builds resilience, and accelerates progress toward the Sustainable Development Goals. The momentum is here, and the future of inclusive insurance in Ghana is bright.