Cyber Resilience: Key to Growth for Ghana’s Insurance Sector
The National Insurance Commission (NIC) is calling on insurance companies in Ghana to prioritize cybersecurity and innovation to unlock new growth opportunities. Deputy Commissioner Bernard Ohemeng Baah, speaking at the 8th Ghana Insurance Awards, highlighted the critical link between cyber resilience and the sector’s ability to capitalize on the government’s new 24-hour economy initiative. He emphasized that embracing technology requires a parallel commitment to safeguarding operations and protecting sensitive customer data.
Strengthening Cyber Defenses in a Digital Age
Baah urged insurers to view the evolving business landscape, particularly the three-shift system under the 24-hour economy, as a catalyst for innovation. This necessitates adapting business models to meet changing consumer demands. Crucially, he stressed the importance of investing in robust cybersecurity frameworks to mitigate risks associated with increased reliance on technology. As the insurance sector embraces digital transformation, protecting against cyber threats becomes paramount to maintaining trust and ensuring business continuity.
The NIC’s message underscores the vital role of cyber resilience in driving sustainable growth for Ghana’s insurance sector. By prioritizing cybersecurity, insurers can not only protect themselves and their customers but also unlock new opportunities presented by the evolving digital economy. The 2025 Ghana Insurance Awards, powered by PayAngel, recognized 16 companies for their achievements, implicitly setting a benchmark for the industry to strive towards, particularly in areas of innovation and technological advancement.
Keywords
Related Keywords: Cyber resilience, insurance sector, cyber security, business growth, NIC, Deputy NIC boss, regulatory compliance, data protection, risk management, digital transformation
