Vanguard Assurance News Updates

Vanguard Assurance Company Limited Marks End Of Year Get-Together

Fri Dec 18 2009

On the 11th December 2009 Vanguard Assurance Co. Ltd. marked its end of year get-together at the forecourt of the company’s premises. All staff of the company including branch representatives were present. In attendance was the Chief Executive Officer and management team as well as some staff of Vanguard Life Assurance Co. Ltd.
Management and members of staff took opportunity to dance the year away with good music, and treat themselves to some good food with a lot to drink.

Mr. Courage Agbeko of Retail Relations Dept. and Mr. Joseph Mensah driver were awarded 2009 best workers.

In recognition of the saying that “behind every successful man there is a woman”, the management of Vanguard Assurance Co. Ltd. recognized the wives of the award winners, in absentia for their contribution to the work of their husbands.

The Chief Executive Officer of the company, Mr. Gideon Amenyedor advised the staff to continue to be customer focused in dealing with clients.

Mr. Courage Agbeko holds a Bsc Admin (insurance option) degree from the University Of Ghana Business School and a candidate of the Chartered Insurance Institute, London.

Mr. Courage Agbeko joined Vanguard in 2005 as a Sales Executive; he is now in the Retail Relations Dept. in-charge of claims and underwriting.

Sales Executive Wanted

Thu Nov 26 2009

Vanguard Assurance Company Limited is looking for a highly motivated and experienced sales person to occupy the position of Sales Executive.

Requirements: Minimum qualification is HND or Diploma in sales with rich experience in insurance selling and must have won valuable corporate accounts.

Must be very articulate and poses very good, inter-personal and communication skills.

All interested applicants are to kindly submit their applications marked “SE” to marketing@vanguardassurance.com or personally to the Head office at Ridge in Accra.

Deadline is the 15th of March 2010.

Vanguard Assurance Celebrates Foundersâ�� Day

Wed Oct 7 2009

Vanguard Assurance Company (VAC) the premier indigenous insurance underwriter celebrated its 35th year of operation last Monday.

The company was founded by a very great entrepreneur and philanthropist, Nana Awuah Ampem of blessed memory on October 4, 1974. Since inception, Vanguard Assurance has made remarkable achievements in the delivery of insurance services, top on the achievement list include prompt payment of genuine claims, innovative social responsibility and twice winner of the Chartered Institute of Marketing Ghana (CIMG) Best Insurance Company of the Year Award.

Apart from this achievement the company also initiated the first taxi project which has given drivers to own their own personal taxi cabs.

The celebration was graced by important dignitaries which includes William Keteku the Board Chairman of Vanguard Assurance, Mr. Seth Terkper, the Deputy Finance Minister representing the Vice President of the republic of Ghana, MS Josephine Amoah the Commissioner of NIC, M. E. Baba, former CEO of VAC, Nana Juabeng-Boateng Siriboe all CEO’s of insurance and brokerage firms.

Vanguard Introduces New Operational Structure

Wed Sep 30 2009

Vanguard Assurance Company has introduced a new organization structure into its vision to remain marketing and customer service focused.

The new organogram scraps the position of the Chief Operations Officer, which was held by the current Chief Executive Officer, Gideon Amenyedor. It has been replaced with two new offices, Chief Personal Officer (CPO) and Chief Corporate Officer (CCO).

This development is in line with her operational model to ensure efficiency and productivity.

The CPO position in this new order will have an oversight responsibility of the Retail, Branch and Agency Relations units as well as the Vanguard Taxi Project.

Meanwhile, the CCO will have a close watch on the Reinsurance & Enegy, Corporate and Broker Relations. The others are Business Development Unit and customer services units.

The two position holders will report to the Chief Executive Officer. Although these titles are new to the Ghana Insurance Industry, they seem to be customer focused.

Adzo Dzidzorli Asafo, a fellow of the Chartered Insurance Institute of London, has been named as the Chief Personal Officer. Prior to this new position, she was the Chief Manager, Technical.

The new CPO launched her working life with the public Service commission in November 1979. Three years later she joined the SIC Insurance Company, where she spent the bulk of her insurance career alternating between the various sections of the motor claims department and lecturing at the SIC Training school. Ms.Asafo joined Vanguard Assurance in 1999.

Mr. Frederick Lamptey, Senior Manager, Business Development has been promoted to Chief Corporate Officer.

The new Corporate boss holds a BA (Hons) degree in Economics and Geography from the Kwame Nkrumah University of Science and Technology (KNUST) and Diploma in Insurance from the Chartered Insurance Institute, London.

He also has a lot of Insurance Training locally and Internationally, notably National Insurance Academy, India; Munich Re, South Africa; and Ghana institute of Management and Public Administration (GIMPA).

Mr. Lamptey joined Vanguard in 1996 and managed Kojo Thompson, Accra and Tema Branches successfully. In 2006 he was named the ‘Best’ Branch Manager.

Vanguard Assurance Has Won The CIMG Insurance Company Of The Year Award For The Second Time

Wed Jul 29 2009

Vanguard Assurance Company Limited, the first Indigenous Insurance Company and a member of the Ghana club 100 has been adjudged the Best Marketing oriented Insurance Company last Saturday by the Chartered Institute of Marketing Ghana.

It will be recalled that Vanguard Assurance won this award last year and this year’s award therefore confirms that the Company is really consistent in its marketing efforts.

In an interview with the Chief Executive Officer, Mr. Gideon Amenyedor, he said that Vanguard Assurance has applied the marketing principles of Segmentation, Targeting and Positioning (STP) very well causing its brand to occupy a unique position in the minds of its customers, infact Vanguard Assurance has become a household name in insurance in line with its vision he exclaimed. He said that the Company is very close to its customers and therefore continues to make the necessary changes in its offering to meet their ever changing needs.

The industry has become very competitive and the only way to stay above board is to have a differentiating strategy, but lamented that most companies are engaged in price-cutting, a situation if not checked by the trade association (GIA), will result in most companies not being able to meet their basic obligation of paying claims to their clients.

He thank the almighty God for giving the Staff and Management of Vanguard Assurance the power to work hard to win this award, “it is God who gives the power to make wealth and therefore glory must be given to him”. He took the opportunity to dedicate the award to God and Customers of Vanguard Assurance and also to thank Sonitra Gh. Limited, PW Gh, BCM, Holiday Inn Hotel, Process and Plant, Danniads Insurance Brokers , Horizon Insurance Brokers, Marine & General Brokers, Tri-Star Insurance Brokers, All Risk Insurance Brokers and Akoto Risk Insurance Brokers. The others were Kek Insurance Brokers, Safety Insurance Brokers, Edward Mensah Wood & Associates, Claims Limited, All Agents of Vanguard Assurance and the Ghana Reinsurance Company Limited among others for their continued support.

He commended his predecessor Mr. M. E. Baba for establishing a firm foundation and the Vice-Chairman Mr. Awuah Darko for his business acumen. He also praised the commissioner of Insurance Ms. J. J. Amoah for bringing unifying factor in the Insurance Industry of Ghana and for increasing customer confidence in the Industry. He concluded by highly commending the board chairman Mr. W. Keteku for his professionalism in steering the affairs of the board.

Vanguard Holds Birthday Party For Staff

Fri Jul 17 2009

Vanguard Assurance Company Limited has recognized the hard work and dedication of some staff members whose birthday fell between April and June this year and has awarded them for their relentless efforts by organising a birthday ceremony for the second quarter celebrants of the company numbering over 15.

The celebration also formed part of Ghana’s 49th Repubublican Day Anniversary celebration. As part of the celebrations, there were recreational activities such as oware, football games and a health walk. The Ag. Chief Executive (CEO) of the company, Mr.Gideon Amenyedor, said the insurance industry in Ghana, had over the years helped people to secure several insurance benefits for their cars, homes and other properties.

He said Vanguard Assurance in 2008 paid insurance claims of GH¢6.5million to its customers in the Country. Indicating that it was through the selfless efforts and dedication of Vanguard staff that the Company had come this far and needed to celebrate and rejuvenate their dedication.” Let us learn to celebrate our good name as we celebrate the republic day’’, he said.

He urged other staff of Vanguard to emulate the examples of their colleagues.
Mr.Amenyedor said the company was committed to motivating staff members to give off their best. ‘We are committed to making them very happy and this is an example of our commitment’, he added.

He said Vanguard Assurance had provided prompt claim payment, competitive pricing and quality customer services to its clients since its inception. ‘This is because, we believe our customers deserve the best and are therefore, always right in choosing to do business with Vanguard Assurance.
Vanguard Assurance is the pace setter in Foreign Travel insurance market, First in Taxi market and First in Energy market,’ he explained.

Mr. Amenyedor said the celebration was to send the message to fellow Ghanaians that they should learn to celebrate happy occasions and also mourn at unhappy times. He said that, as a country, the celebration of birthdays was not encouraged especially at corporate levels while most corporate bodies only assisted staff in mourning the dead. He expressed optimism that the mass birthday celebrations would continue for the rest of the year for other staff members as well.

Vanguard Pays GHÂ¢186,106.00 to Magvlyn Industries

Thu Jun 25 2009

Mr. Gideon Amenyedor, Acting Chief Executive Officer of Vanguard Assurance has disclosed that the Company, the third largest premium income earner in 2008 paid out Gh¢6.5 million as claims last year.

He said this payment debunk the global notion that insurers are quick in mobilizing premiums but delay when it comes to claims payment.

The Chief Executive stressed that Vanguard had survived in the business of insurance due to the prompt claims payment. He made this disclosures last week while presenting a fire claims check of GH¢186,106 to the Chief Executive of Magvlyn Industries at a short ceremony at the Head Office in Accra.

He emphasized that Vanguard Assurance is in business to pay genuine claims when it occurs. He admitted that the Company has entered its growth phase with a spectacular performance last year with premium income growing from GH¢11.2m in 2007 to GH¢18.3m in 2008. Total assets also improve drastically by 34.9% from GH¢10.6m to GH¢14.3m.

Vanguard Assurance Undertakes Road Saftey Awareness Campaign

Thu May 28 2009

Available statistics from the Motor Transport Traffic Unit (MTTU) of the Ghana police service indicated that 222 lives were lost through road accidents, whilst 4,768 people sustained various degrees of injury in Accra alone in 2008.

Gideon Amenyedor, Acting Chief Executive Officer, Vanguard Assurance Company, disclosed these figures on the occasion of the parading of 50 Vanguard branded Taxis to promote Road Safety in Accra.

The Chief Executive Officer said the adverse effect of motor accidents cannot be over emphasized. “Precious lives, men and women created in the image of the almighty and everlasting God, the King of the universe, have been lost in addition to the destruction of many valuable properties, creating social-financial difficulties in the affected homes” the CEO said while quoting from the Bible.

He noted that we cannot reduce road accidents without identifying major causes. Mr. Amenyedor revealed that research conducted by the Company has indicated that the major causes of motor accident include human error resulting from tiredness, drunkenness, wrong overtaking which could have been avoided through proper, regular training. Other causes are mechanical or electrical failure of commercial vehicles, the majority of which are old.

He said it is the belief if Vanguard Assurance that, road safety can be enhanced when causes are addressed.

Mr. Daniel Awuah Darko, Executive Vice Chairman, Vanguard Assurance, cautioned taxi drivers to be law abiding and take road traffic regulations seriously. He said that it was in view of the experience he had with a taxi cab he boarded from airport to his home that he pushed for the taxi project.
It will be recalled that Vanguard Assurance instituted the best taxi driver award scheme some years ago with the aim of addressing the first problem; human error.

The award scheme started with rigorous training of taxi drivers who are insured with Vanguard Assurance through taxi unions on defensive driving, road signs, and regular maintenance of vehicles. Mr. Amenyedor revealed that taxi drivers who had actually applied the principles as demonstrated by their driving records, had received handsome rewards including Tata Indigo cars.

He disclosed that Vanguard Assurance under the taxi project has also collaborated with PHC motors and Ecobank to give out 100 Tata indigo cars on hire purchase to drivers.

Furthermore, Vanguard also collaborated with IC securities to give another 300 cars in the second batch.

A beneficiary of the taxi scheme under the project, who is a driver and a user of these taxi-cabs, gave testimony at the ceremony as to how he and his family have benefited enormously from the Vanguard Taxi Project.

Vanguard Peace of Mind Promotion

Thu Apr 9 2009

As the insurance industry of Ghana continues to grow, industry players are day in and out looking for ways to grow along with the industry and where possible steer this industrial growth for maximum benefit.

Vanguard Assurance Company Limited, your leaders in insurance services provision have again led the way by instituting measures to reward its numerous clients across the length and breath of this Country for their valuable contribution to the systematic growth of the Company over the past thirty-five years.

In this vein, it is encouraging its numerous cherished clients to take advantage of the Vanguard Peace of Mind Promotion which encourages all new and old clients to purchase a Vanguard Comprehensive Motor Insurance or a Vanguard Comprehensive Home Insurances Policy to benefit from the numerous excellent services on offer that provide full protection for a peace of mind. In addition, it is rewarding new and old clients taking advantage of this offer with hundreds of mobile phones and phone credits.

The Head of Customers Service, Mrs Norrender Debrah explained that, “the promotion which will run till stocks last has very flexible terms and conditions. A minimum premium payment of GH¢250 will qualify you for a phone while lesser amounts will qualify you for various amounts of phone credits. Currently, over 200 people have already won mobile phones with over 300 wining various amounts of mobile phone credits and we hope to give out over a thousand phones. This is just a token we are offering our valued clients to encourage the purchase of comprehensive insurance protection.”

Vanguard Staff Engage In Fun Games

Thu Apr 9 2009

As part of the strategic plan of Vanguard Assurance Company Limited, management and staff of the company engaged in various sporting disciplines to exercise and keep the human resource of the Company healthy and fit.

The event which took place on the 5th of March 2009 at the Accra Senior High School saw staff and management closing at 3pm to participate in their numbers.

In his opening statement, the Ag. Chief Executive Officer, Mr, Gideon Amenyedor said that, Vanguard Assurance values the benefits of good health and fitness of its staff and as such will regularly be organizing such events which will also help strengthen the unity of the staff.

The various disciplines they participated in included sack race for the ladies, tug of war, football, volley ball, ‘ludo’, draft and ‘ampe’. In all, over seventy (70) staff members participated in the four and a half hour event.

The staff members were divided into two teams, the Nana Awuah-Darko Ampen team and the Aaron Boakye Dankwa team to compete feverishly among the various disciplines.

It was all fun as staff members participated in games of their choice. Particular areas of highlight were where the coach of the football team retired to play ampe with the ladies and the men’s team could not win the tug of war competition against the ladies on three consecutive occasions for the reason unknown to them that some tough men held the tail end of the ladies rope.

In his closing remaks, the Human Resource Manager, Mr. Kofi Boateng Acheampong tanked staff members for participating and promised another event within the shortest possible time.

Mass Celebration of Birthday by Vanguard Assurance Staff

Thu Apr 9 2009

Twenty-one staff members of the Vanguard Assurance Company whose birthday’s fell within the first quarter of the year celebrated their birthdays in style at the premises of the company.

The maiden edition of the mass celebration was to help boost the morale of the
Staff within the Corporate society. The Acting Chief Executive Officer (Ag. CEO) of the Company, Mr. Gideon Amenyedor, said Staff had worked hard to find solutions to the insurance needs of their customers as well as making shining examples for others to follow and as such deserved appreciation.

Mr. Amenyedor said the company was committed to motivating staff members to give their best to customers. “We are committed to making them happy and this is an example of our commitment”, he added.

He said Vanguard Assurance has always provided prompt claim payment, competitive pricing and quality customer care services to its clients since its inception, “this is because, we believe our customers deserve the best and are therefore always right in choosing to do business with Vanguard Assurance .Thanks to our satisfied clients, Vanguard Assurance now, is the first in Foreign Travel, First in Energy and First in the Taxi insurance markets in the country and all this has been possible because of the dedication and hardwork of our Staff”, he explained.

Mr. Amenyedor said the celebration was to send the message to fellow Ghanaians that they should learn to celebrate happy occasions and also mourn during unhappy times.

He said as a country, the celebration of birthdays was not encouraged, especially as corporate bodies assisted staff in mourning their dead.

He expressed optimism that the mass birthday celebrations would continue for the rest of the year for other staff members as well.

Vanguard Upgrades Capacity Of Its Staff

Tue Mar 10 2009

VANGUARD Assurance Ltd has instituted a refresher training programme for its members of staff to help broaden their horizon in the corporate environment.
The programme, which is the maiden edition, took 21 staff members through marketing and customer service training. It is expected to last six months and will involve staff from the other regions.

Launching the maiden training programme, the Board Chairman of Vanguard Assurance, Mr. William Obuobisa Keteku, said, ‘Continuing education is very important, no matter the level of a person. It is important to broaden one’s horizon”

He urged the participants to take advantage of the training in order to broaden their horizon in the business society. He also implored them to demonstrate familyhood to enhance unity in the company.

He complained that there was a lack of integrity in the business world, which was the cause of the setbacks in the corporate society.

Mr.Keteku asked them to show good attitude towards customers, as well as treat them with care and respect. ‘Develop a different approach to customers’ he added.

The Acting Chief Executive Officer (CEO) of the Company, Mr. Gideon Amenyedor, said the training programme was purposed to sharpen the skills of the staff and to enable them provide good customer care services.

He was optimistic that at the end of the six month training, which is scheduled for Mondays and Wednesdays, Vanguard would be the best company in the insurance sector.
Source: Daily Graphic

Vanguard Assurance Awards Sales Executives

Wed Feb 18 2009

Vanguard Assurance Company Limited on the 4th of February 2009 organized an award ceremony to reward its Sales Executives. The ceremony which was the maiden event was organized to honor the company’s Sales Executives for their contribution to the growth of the Company.

In attendance were senior executives, managers, visiting managers from Vanguard Life Assurance Company Limited, agents and their loved ones, some staff of Vanguard Assurance and members of the media.

In all three agents were honored for their outstanding performance over the years. They were, Mr. Daniel Teye, the best Sales representative for 2008 who received a laptop computer, Mr. Prosper Sarper the first runner up who received a desktop Computer while Mr. Emmanuel Nii Chairey Laryea aka Jent Laryea took the third prize of a double decked fridge.

The Agency Manager, Mr. Ala-Adjetey, said that management recognized the unparallel effort that the Sales executives have put into the over 35 years of growth and sustained stability of Vanguard Assurance culminating in the successes so far achieved. He lauded the unimaginable latitude of tenacity, loyalty and excellence in their performance over the years.

The Acting Chief Executive Officer of Vanguard Assurance Company Limited, Mr. Gideon Amenyedor on his part advised the sales Executive to continue to strive to eschew professionalism in dealing with their clients adding that true professionals are those who are dedicated to service.

He further stated that, one has to be proud associating with Vanguard Assurance because Vanguard Assurance is honest and sincere in her dealings with her valued clients and pays genuine claims promptly. He made reference to two single claims amounting to over GH15m paid to Accra Shopping Mall (6.6m) and Trusty Foods Limited (9.5m) paid in 2007 and 2008 respectively.

In ending his speech, the Acting Chief Executive Officer of Vanguard Assurance Company Limited announced that modifications are being made to the current Sales Executives conditions of service documents in order to provide much more incentives and benefits to deserving hard workers.

At the end of the ceremony, an open forum was held to listen to comments, contributions and or complaints following which senior management present took turns to respond to issues.

It must be mentioned that Agents otherwise called Sales Executives are registered marketing officers of a particular Insurance Company licensed to sell insurance by the National Insurance Commission. They earn income on commission bases and are remunerated by their Insurance Companies.

Vanguard Pays Claim of USD959,743.89 to Trusty Foods Limited

Wed Feb 18 2009

At a short ceremony held in the last quarter of this year at the premises of Trusty Foods Limited, Vanguard Assurance honoured her promise to one of her valued clients by paying a settled claim amount of USD959,743.89 to Trusty Foods Limited(TFL) on account of TFL’s Vanguard All Risk Insurance policy.

The Broker Relations Department Manager, Mr. Charles Dankyi Ansong said that Vanguard Assurance Company Limited is ever committed to paying genuine claims. He further stated that, this happens to be the biggest single claim paid by Vanguard Assurance Company Limited in 2008 and the payment is coming at a time when companies and individuals doubt if Insurance Companies in Ghana have the capacity to guarantee their security in times of mishaps. He called on the business community to take a look at the track record of Vanguard Assurance and join the wining team.

Vanguard Assurance has led they way in promise fulfillment once more and fully registered itself as a reliable and trustworthy insurer in Ghana. Earlier this year Vanguard Assurance received the CIMG insurance award for 2007 and has been adjudged the 3rd largest insurance Company in terms of premium income by the BFT in 2008.

Please find at he following address a list of the top 100 claims paid over the past 3years. http://www.vanguardassurance.com/claimsregistration/claimschart.php

Vanguard Assurance Takes The Lead In The Ghanaian Energy Insurance Market

Wed Nov 19 2008

Vanguard Assurance recently held its third quarter review meeting to access the performance of its Head office and branch offices located throughout the Country. During this meeting, time was allocated for a brainstorming session led by the Executive Vice chairman of the Company, Mr. Daniel Awuah-Darko, which was to deliberate upon means of improving current product and services as well as the consolidation of its grip on the Energy Insurance market in Ghana.

In his opening statement, Mr. Daniel Awuah-Darko thanked the Management & Staff of the Company for having “wonderful and hardworking people” and thanked them for the laurels achieved so far. He went on to speak on the policy direction of the Company in the Long term and how positioned the Company is for the Oil Industry.

Sill on the Oil Industry, he announced that Vanguard Assurance Company Limited currently holds the largest Energy Insurance portfolio among all the Insurance Companies in the Country and also has the biggest capacity for Energy Insurance in the Ghanaian Insurance market coupled with a strong reinsurance base that further explains its preference as the preferred insurance Company for Energy Companies. He further stated that, the capacity of Vanguard Assurance is going to be increased by over 300% by the end of this month in order to meet the demands of other customers.

He was thankful of the good year that the Almighty God has given the Company and the privilege of having highly trained professionals as the engine of the Company and promised many good things to come.

Once again, Vanguard Assurance has led the way by providing adequate insurances for the energy sector of this country. This it adds to its previously won CIMG Best Insurance Company of the Year award for 2007, Best Insurance Company in terms of Customer Service and movement in rank from the 4th to the 3rd best premium income earner in the Country by the Business and Financial Times.