Ghana: ETAP secures insurtech license, access with Hollard partnership

ETAP, a rising insurtech firm, has made strides in expanding African insurance accessibility by obtaining Ghana’s first operational license from the National Insurance Commission (NIC).

In collaboration with Hollard Insurance Ghana, ETAP now provides convenient, digital auto insurance options for a range of vehicles, including cars, trucks, and motorcycles.

This partnership, under the ETAP-Hollard brand, offers streamlined claims processing, tailored policy management, and rewards for safe driving, contributing to enhanced user experience and encouraging responsible driving.

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With only 2% of Ghana’s population currently insured, ETAP’s entry signals significant growth potential, driven by increased financial literacy and ongoing regulatory reforms.

Ibraheem Babalola, ETAP’s CEO, shared his vision for the expansion, stating, “Ghana represents a key market for us, and this license allows us to bring our innovative mobility insurance solutions to a country where insurance penetration is still low, yet the potential for growth is immense.

With this expansion, we are not just launching a product; we are creating new opportunities, fostering financial inclusion, and contributing to the development of a more secure future for Ghanaians”

Similarly, Daniel Boi Addo, Managing Director of Hollard Insurance, emphasized the collaboration’s role in promoting sustainable growth within Ghana’s insurance sector: “Receiving the operational license from our regulator is a testament to our commitment to innovation and customer satisfaction.

Partnering with ETAP allows us to deliver tailored insurance solutions while rewarding responsible driving.

Together, we are building a better future for mobility insurance in Ghana, with endless possibilities for sustainable growth” (Ripples Nigeria, November 2, 2024).