Serene Insurance Ltd’s recent industry awards are drawing attention to its underwriting, claims management and professional capacity as the indigenous insurer continues to expand its presence in Ghana’s general insurance market.
At the 9th Ghana Insurance Awards, the company won Indigenous Insurance Company of the Year 2025 and Promising Insurance Company of the Year 2025.
A week later, its Head of Underwriting, Mrs Barbara Odoi, was named Professional Underwriter of the Year 2025 at the 6th Chartered Insurance Institute of Ghana (CIIG) Excellence Awards.
The latest awards follow individual recognition for two other Serene Insurance executives at the previous CIIG Excellence Awards. Its Head of Claims, Mr Daniel Otoo, was named Claims Professional of the Year 2024, while Chief Executive Officer Mrs Mercy Naa Koshie Boampong received the Insurance Professional of the Year 2024 award.
The series of awards covers key areas of the insurer’s operations, from underwriting and claims to management, at a time when insurers are under pressure to grow their businesses while maintaining sound risk controls and reliable service to policyholders.
Underwriting in focus
Mrs Odoi’s recognition puts underwriting at the centre of Serene Insurance’s latest awards.
For insurers, underwriting determines how risks are assessed and priced before policies are issued. The quality of those decisions can have a direct bearing on claims costs and underwriting results.
Mrs Boampong said the award reflected the company’s approach to risk management and described underwriting as an important foundation for financial stability and customer confidence.
Mrs Odoi, in acknowledging the award, credited her colleagues and said the recognition had strengthened her commitment to maintaining professional standards in underwriting.
Claims and customer experience
Claims management has also featured in the company’s recent industry recognition.
Mr Otoo’s Claims Professional of the Year award in 2024 highlights an area that directly affects policyholders’ experience with an insurer.
Serene Insurance says its growth has been accompanied by an efficient claims process and prompt settlement of claims.
For customers, the value of an insurance policy becomes most apparent when a claim is made. How quickly and fairly claims are assessed and settled can therefore influence confidence in an insurer and its ability to retain customers.
A growing footprint
The awards come against the backdrop of an expanding Serene Insurance business.
The company says it now has more than 60,000 institutional and retail customers, a network of over 280 agents and more than 97 employees across Ghana.
It also reports growth in gross written premiums, underwriting profit and branch operations.
Those figures provide context for the company’s recent industry recognition. As its customer and distribution base grows, maintaining underwriting discipline and efficient claims management becomes increasingly important.
Indigenous insurers compete for market share
Serene Insurance’s recognition as Indigenous Insurance Company of the Year also comes as locally owned insurers seek to deepen their position in Ghana’s general insurance market.
Expanding an insurance business requires more than increasing the number of policies sold. Insurers must price risks appropriately, maintain adequate capacity to meet claims and retain customers.
The recent awards recognise Serene Insurance at both the corporate and professional levels, covering its position as an indigenous insurer as well as expertise in underwriting, claims and management.
Mrs Boampong attributed the recognition to the contribution of the company’s board, management and staff.
The more important test for the business, however, will be whether the growth in customers and distribution can be sustained alongside strong underwriting results, effective claims management and continued confidence among policyholders.
