SanlamAllianz Unveils ‘Business Guard’ to Bolster Ghanaian SMEs
In a move aimed at strengthening small and medium-sized enterprises (SMEs) across Ghana, SanlamAllianz has introduced ‘Business Guard SME Insurance,’ a product specifically tailored to meet the unique challenges facing SMEs.
“SMEs are the backbone of any economy, and with Business Guard, we’re helping them protect their capital, livelihoods, and operational stability amid unexpected challenges,” explained Mabel Nyarkoaa Probley, Managing Director and CEO of SanlamAllianz General Insurance Ghana.
Emphasizing that the product is not only about financial protection but about enabling small businesses to grow confidently, knowing they have safeguards against setbacks.
Comprehensive Coverage for Common Business Risks
Business Guard is designed to be a one-stop insurance solution for SMEs, covering key areas like property damage, loss of contents, fixtures, fidelity guarantees (protection against losses from employee dishonesty), and public liability. Additionally, the policy includes life cover for business owners and employees—an added layer of security for both families and businesses.
A key feature of Business Guard is its pre-underwritten structure, which removes the usual time-consuming and complex documentation requirements. “Business owners often avoid insurance because it’s seen as complicated or costly,” noted Probley. “With Business Guard, we’ve simplified the process to make insurance accessible and affordable, so SMEs can sign up without the typical hurdles.”
Strategic Partnership with OLEA M&G Insurance Brokers
SanlamAllianz joining forces with OLEA M&G Insurance Brokers to expand the product’s reach and provide ongoing support. Stephen Kwarteng Yeboah, Managing Director of OLEA M&G, explained that the partnership with SanlamAllianz stems from a shared commitment to the SME sector.
“We sought a partner with a solid reputation and a reliable claims process, and SanlamAllianz has consistently demonstrated that,” Yeboah said. “For as little as 1,500 Ghana Cedis per year, SMEs get coverage worth hundreds of thousands, making this policy one of the most affordable on the market.”
OLEA M&G’s role extends beyond sales; they will actively manage claims and assist clients through the entire claims process.
“We’re here to ensure that any SME with Business Guard doesn’t have to worry about the technicalities of claims,” Yeboah added. “When a claim arises, we work directly with SanlamAllianz on behalf of the client, ensuring a smooth and swift resolution.”
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Focused Outreach to Increase Accessibility
In addition to offering a highly accessible product, SanlamAllianz is collaborating with key trade associations such as the Ghana Enterprises Association, the Ghana Tailors and Dressmakers Association, and several other sector groups to drive awareness and adoption.
“Many SMEs haven’t engaged with insurance before because they weren’t clear on the benefits or found the process cumbersome,” she stated. “Our partnerships with these associations are crucial for reaching more SMEs and demonstrating how Business Guard can provide meaningful security and support.”
SanlamAllianz’s ‘Business Guard SME Insurance’ is expected to make a significant impact on Ghana’s SME landscape, helping business owners to build resilience, safeguard their assets, and confidently navigate the risks inherent in today’s economy.
Source: Isaac Kofi Dzokpo
