Star Micro-insurance Services Limited has been selected by the International Labour Organisation (ILO) to benefit from its Fellowship Programme sponsored by the Micro-Insurance Innovation Facility.
The fellowship enables insurance professionals to gain in-depth experience in micro-insurance by working onsite on a micro-insurance programme for 6-12 months under the guidance of a mentor.
Since the supply of micro-insurance experts is limited, the Facility sponsors the Fellowship Programme which aims to nurture a new generation of micro-insurance experts to help micro-insurance providers improve the value of services they provide to low-income people.
Participants are expected to build the insurance capacity of their host while learning to adapt their expertise to the low-income market.
In an exclusive interview with B&FT, ILO Fellow Ayham Esmaiel from Syria said his main role will be helping the Operations Manager streamline the back-office of Star Micro-insurance.
“My main role is to build the capacity of the staff of Star Micro and help the Operations Manager streamline the system.
“I hope to learn a lot about micro-insurance, the informal sector and the country during my stay here,” he said.
Fellows who become proficient in building insurance capacity and advising on micro-insurance issues at the end of their fellowship may be included in the Facility’s Micro-insurance Consultants Registry.
Operations Manager Star Micro-insurance, Solomon Larbey, said Star Micro is experiencing fast growth and needs to streamline its back-office processes.
“The Fellow will work closely with me, and will also get support from external consultants from the Micro-insurance Centre advising Star Micro on a regular basis.
“I hope that by end of the one-year period Star Micro will have benefitted a lot from his expertise, and our back-office will be well-streamlined to cater for future micro-insurance operations,” he said.
He added that Star Micro-insurance is an agency in charge of the distribution, marketing, product development and back-office operations of HODA micro-insurance business in Ghana.
“Star Micro offers funeral, child education, Airtel Money free insurance product (UniMobil) and credit life coverage, and has sold 220,000 policies, to date, through various distribution channels.”
Star Micro-insurance Services Limited was incorporated as an independent agency in July 2008 to collaborate with Star Assurance Company and StarLife Assurance Company Limited.
It is dedicated to serving low-income households with an affordable and suitable range of micro-insurance products. It is responsible for the design of micro-insurance products that suit the needs of its target market.
By Bernard Yaw ASHIADEY
