StarLife Assurance, one of Ghana’s top life insurance providers, has teamed up with Ghanaian insurtech startup Figtech (MyFIG) to expand digital access to life insurance solutions.
Why it matters
The partnership, aligned with the Insurance Act 2021 and the National Insurance Commission (NIC) Sandbox Program, aims to make life insurance more affordable and accessible through digital innovation.
Driving the news
- MyFIG, an insurtech platform, integrates digital solutions to simplify the purchase and management of life insurance policies.
- StarLife sees the collaboration as a way to enhance customer experience and increase insurance penetration in Ghana.
- Present at the signing ceremony were representatives from National Insurance Commission, GIZ, Figtech (MyFIG) and representatives in the Fintech/Insuretech industry in Ghana.
What they’re saying
- Kakra Duffuor-Nyarko, CEO of StarLife Assurance: “Through our partnership with Figtech, we are making insurance simpler, more accessible, and more competitive for Ghanaians.”
- Festus William Amoyaw, CEO of Figtech (MyFIG): “This marks a major step in our mission to digitize financial services and ensure more Ghanaians have life insurance coverage. Our entire purpose as an organization is to understand people and simplify Life insurance products, so working with StarLife is the perfect fit.”
Between the lines
The move reflects a broader trend of insurers collaborating with insurtech firms to modernize the industry and expand market reach.
What’s next
With regulatory backing and industry support, the partnership could set a precedent for future digital insurance initiatives in Ghana.
