The high competition among players in the insurance market has earned Ghana a reputable accolade as one of the best on the continent after South Africa and Nigeria, according to Dr. Gideon Amenyedor.

According to him, this has contributed to the industry being recognised as a major component of the country’s economy which can only be improved upon.

“Ghana’s insurance industry has moved very high and it is the envy now,” Dr. Amenyedor said this on ‘The Movers’ segment of the Super Morning Show on Joy FM.

He holds the view that the economy will fail if the insurance sector fails.

He said he likes making customers happy “because when they are happy, they bring you money and your staff members are also happy.”

He, however, observed that certain cultural practices work against commercial insurance in Ghana.