Allianz Ghana offers a wide range of non-life insurance packages for all individuals across Ghana. With Allianz, you have the option to enjoy Home Insurance, Motor Insurance and Travel Insurance. These products can be purchased from any of their branches in Accra, Tema, Kumasi and Takoradi. Customers can equally visit any of their bancassurance partners which are: Societe General, Ecobank, Consolidated Bank and UBA across the country. We had a conversation with the organization’s leadership; to better understand what makes the organization thrive. As an insurance organization that has garnered successes over the years, the CEO, Ababacar Diaw; has a myriad of knowledge to share on business and people management.
Allianz has experienced positive growth over the past three years.In our conversation with Ababacar Diaw, the Chief Executive Officer of Allianz Ghana (Non-life), he said, “Our portfolio has experienced an average growth rate of thirty percent (30%), mainly influenced by the timely payment of claims and other strategic partnerships and initiatives.” Throughout the year 2022, Allianz has been working with a growth strategy to “Rebalance and Refocus in order to Outperform”. By this, they have rebalanced their portfolio by exploring the various lines of businesses where they under performed in the previous year, re-organized their sales and distribution force by allocating teams depending on their experience and skills, and refocused their engagements with their partners, who are their: agents, brokers, bank partners, insureds, etc. This way, they redirected their focus and energy to meet their partners requirements and give them full support.
As an organization, Allianz’s main goals are to be profitable and grow in a sustainable way and with the current economic challenges, it has not been easy to meet this goal, inasmuch as they have made good progress. With insurance remaining a luxury product in developing countries, insurance becomes the first expense to cut out. To mitigate this, Mr. Diaw has collaborated with proficient and innovative colleagues to find solutions that ensure Insurance remains relevant to the everyday Ghanaian and business. They also listen to their internal and external customers to be able to adjust and update their actions whenever needed.
Mr. Ababacar Diaw; His Leadership in Allianz General
Mr. Ababacar’s favourite thing about leadership is giving space to allow the people around him to grow. He has established a culture of increasing performance through delegation of responsibilities. Once responsibilities are successfully delegated, there’s an assurance of the increase of performance and positive results.
To increase performance also means delegating more responsibilities and making everybody accountable through their collaborations. This way, he has made his team members OWNERS of their own decisions. Mr. Ababacar explained why he prioritises innovation at work, “Fortunately, we find ourselves in a competitive market which is ably regulated by the National Insurance Commission. The players are very experienced hence it requires innovative thinking to stay in the competition.“
Mr. Ababacar’s outlook on the future of Allianz General is one that he describes as “Great!” He looks forward to finding new ways of empowering his staff to provide meaningful customer experiences.
