Our Business Units
Our ability to form partnerships and consortiums with Insurers to deliver tailor-made packages to large a clientele base has led to the formation of our organization into business units. Safety Insurance Brokers operates under six (6) business units and a health division.
Hotelier Business Unit
The Hotelier Business Unit was formed through a collaboration among SIBL, SIC Insurance Company, Ghana Hotel Association, and Ghana Tourist Board to develop an industry-specific insurance package to meet the proposed ECOWAS Standardization Program for the hospitality industry. Since September 2005, SIBL has embarked on a nationwide marketing campaign to insure about 800 Hotels.
Foreign Travel Insurance Business Unit
This Unit was established in the year 2002, when SIBL broke new ground in the history of Ghana’s insurance broking market to partner with Vanguard Assurance Company to initiate the Foreign Travel Insurance market. As a recognized partner and pioneer of Foreign Travel Insurance in Ghana, SIBL continues to seek new ways to develop new Foreign Travel Insurance Policies with needed benefits at affordable prices.
Energy Business Unit
SIBL has consolidated its expertise into a Marine and Energy Business Unit and is among the few insurance practitioners in Ghana to attain the Petroleum Commission Permit to practice in the Offshore energy business. Our Energy clientele base includes Ghana National Petroleum Company, West Atlantic Energy, HT Marine Limited, Chase Petroleum Limited, Tema Oil Refinery, and other utilities, mining, and maritime industries.
Life Business Unit
In 2011, SIBL joined Enterprise Life Assurance Company (ELAC) to form another Business Unit within SIBL to penetrate the Life Insurance market through the sale of life insurance with sub-agents. Since then, SIBL has veered into the Group Life Business and currently stands as the industry’s leading insurance Broker of Group Life Sales. Presently, our Life business yields about 30% of our total income.
Motor Business Unit
SIBL manages a large fleet of motor insurance through an exclusive rights agreement with six (6) private Driver Vehicle & Licensing Authority Inspections Centers, as well as a consortium of insurers to sell motor insurance from these centers. These centers together produce over 12,000 motor policies annually.
Traditional Business Unit
The clientele base of our traditional business stretches across industries such as Banks, Pharmaceuticals, Telecommunication, Distribution, Energy, Supermarkets, Manufacturing and Construction, and other individual and corporate clients. Currently, SIBL supports eight Universal Banks’ needs with various Insurance Programs.
Health Division
In April 2018, SIBL was contracted by the Ghana Association of Banks (GAB) to establish a Commercial Health Insurance Company for the 24-member banks. The establishment of the company was aimed at providing a more cost-efficient health benefit to their current health plans. This is SIBL’s proudest development yet in the insurance industry.