NSIA Insurance
NSIA Insurance is a Ghana-based non-life insurance subsidiary of Groupe NSIA, offering motor, travel, fire, marine, home, and agricultural insurance to retail consumers, SMEs, and corporates via five branches and the NSIAbiz digital platform.
- Company typePrivate
- Founded2010
- HeadquartersAccra, Ghana
- Headcount51–100
- GTM typeB2C
- OfferingServices
What NSIA Insurance does
NSIA Insurance Limited is a Ghana-based non-life insurance provider founded in 2010 and operating as a subsidiary of Groupe NSIA, a pan-African financial services conglomerate headquartered in Abidjan, Côte d'Ivoire. The company offers a portfolio of general insurance products including motor, travel, fire, home owners, marine cargo, plant and machinery, personal accident, and assets all risk coverage, serving Ghanaian retail consumers, SMEs, corporate clients, and agricultural/livestock customers.
The company distributes its products through a hybrid model combining five physical branches (Accra, Takoradi, Kumasi, Tamale, Tema) with a proprietary digital self-service platform called NSIAbiz, accessible via USSD (*713#/*714*200#), web portal, and WhatsApp chatbot. The platform supports policy purchase, document retrieval, and claims tracking, with claims under GH¢2,000 settled within one hour via mobile wallet and standard claims settled within five working days. A differentiated offering is the Index-Based Livestock Insurance (IBLI) product, developed in consortium with Leadway Assurance, Rex Insurance, AIICO Insurance, Nigerian Agricultural Insurance Corporation, Africa Reinsurance, and the International Finance Corporation, which uses satellite-derived NDVI data to automatically trigger drought-related livestock payouts.
NSIA Insurance generates revenue primarily through insurance premiums across its non-life product lines. Pricing for motor insurance starts at GH¢2,000 for mandatory third-party coverage, with add-on tiers priced at GH¢100 and GH¢200 and a GH¢5,000 personal accident benefit for drivers. The company holds an A-(GH) Claims Paying Ability rating from Global Credit Rating South Africa, was ranked 36th in the Ghana Club 100 in 2018, and was recognized as the second-best non-life insurer in Ghana that same year.
NSIA Insurance firmographics
Firmographics- Name
- NSIA Insurance
- Legal name
- NSIA Insurance Limited
- Website
- https://nsiainsurance.com.gh
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- NSIA Insurance is a Ghana-based non-life insurance subsidiary of Groupe NSIA, offering motor, travel, fire, marine, home, and agricultural insurance to retail consumers, SMEs, and corporates via five branches and the NSIAbiz digital platform.
- Ownership category
- akta.pro rank
NSIA Insurance industry classification
Industry- Product category
- Non-Life Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Travel & Accident (Non-Life) Insurance (FSAJAMAN)
Keywords
Where NSIA Insurance is headquartered
LocationHeadquarters
- HQ city
- Accra
- HQ country
- Ghana
- HQ region
- Africa
Offices5 records
Markets served
NSIA Insurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Insurance Premium Revenue: NSIA Insurance generates revenue primarily through the collection of premiums across a portfolio of non-life insurance products including motor, travel, fire, marine cargo, engineering, and personal accident insurance. Premiums are collected at policy inception and represent the core revenue stream for the company.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Annual | Third-Party Motor Insurance — GH¢2,000 base |
| Unit Pricing | Annual | Third-Party Xtra Add-on — GH¢100 or GH¢200 |
| Unit Pricing | Annual | Personal Accident Coverage — GH¢5,000 benefit limit |
| Other | Annual | Corporate and Specialty Lines — Quote-based |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
NSIA Insurance product offering
Product offeringCore offering
NSIA Insurance provides a portfolio of non-life (general) insurance products in Ghana, including motor, travel, fire, home owners, marine, plant & machinery, personal accident, and assets all risk cover. Policies are distributed through a national branch network, a proprietary digital self-service platform (NSIAbiz via USSD, web, and WhatsApp), and agents/partner agencies, with products priced per policy period and claims settled via mobile wallet for small amounts.
Product overview
NSIA Insurance offers a portfolio of non-life insurance products as a single unified offering. The product line includes Motor Insurance, Travel Insurance, Fire Insurance, Home Owners Insurance, Marine Insurance, Plant & Machinery Insurance, Personal Accident Insurance, and Assets All Risk Insurance. These products are offered as distinct, standalone insurance policies that can be purchased individually to meet various protection needs for individuals and businesses in Ghana.
Differentiator
Problem solved
Functional benefit
Brands
- NSIAbiz: Digital business platform offering USSD (*714*200#), online portal (nsiabiz.nsiainsurance.com.gh), and WhatsApp chatbot (0596992724) for policy management, claims, and payments.
Products and services
- Motor Insurance Motor insurance covering liabilities to third parties and own vehicle damage from accidents, fire, and theft. Offers three policy types: Comprehensive, Third Party Fire and Theft, and Third Party Only. For vehicle owners and drivers in Ghana.
- Travel Insurance Travel insurance policy guaranteeing security and peace of mind against foreign travel uncertainties including emergency medical expenses, evacuation and assistance. Available in Traveler, Economy, and Students/Pilgrimage plans. For Ghanaian outbound travellers.
- Fire Insurance Fire and Allied Perils Policy indemnifying for loss or damage from fire, lightning, impact, explosion, riot, flood, earthquake, hurricane, and aircraft damage. Includes Combined Fire and Burglary option for business premises. For property owners and businesses.
- Home Owners Insurance Comprehensive insurance protection for residential properties and contents, including personal accident cover for policyholders and liability to third parties. Includes House Owners' and Householders' Insurance variants. For residential property owners.
- Marine Insurance Insurance covering loss or damage to cargo and ships including fishing vessels and pleasure boats. Offers Marine Open Cover Policies, Marine Cargo General, Marine Cargo-Exports, and Marine Certificate Policies. For importers, exporters, shipping operators, and boat owners.
- Plant & Machinery Insurance Comprehensive insurance against sudden and unforeseen physical loss or damage to machines and equipment from causes such as short-circuit and over-voltage surges. Includes Electronic Equipment Insurance and Loss of Profit coverage. For businesses operating machinery and equipment.
- Personal Accident Insurance 24-hour accident cover providing compensation for death, permanent injury, hospitalization, and medical expenses resulting from accidents. For senior employees and individual policyholders seeking personal accident protection.
- Assets All Risk Insurance Comprehensive property and accident policy combining Fire, Theft, and Accidental Damage coverage for high-valued personal and real properties under one policy. For owners of high-value assets seeking bundled protection.
- NSIAbiz Digital Platform A proprietary digital self-service platform enabling customers to access insurance products via USSD (*714*200#), web portal, and WhatsApp chatbot. Allows quote retrieval, policy purchases, and claims tracking without visiting a physical branch. For Ghanaian consumers and SMEs seeking digital insurance access.
- Index-Based Livestock Insurance (IBLI) Uses satellite-derived Normalised Difference Vegetation Index (NDVI) data to assess forage conditions and automatically trigger livestock insurance payouts, reducing basis risk and enabling near-real-time claims adjudication in drought-affected regions. For livestock farmers and pastoralists in Ghana.
Quantifiable outcome
- Claims under GH¢2,000 settled within 1 hour via mobile wallet
- +1 more outcomes
Companies that use NSIA Insurance
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
NSIA Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
NSIA Insurance partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Leadway Assurance CompanycoreNSIA Insurance participates in a consortium led by Leadway Assurance Company for the Index-Based Livestock Insurance (IBLI) scheme in Ghana. The consortium also includes Rex Insurance and AIICO Insurance, with reinsurance support from Africa Reinsurance Corporation. The IBLI scheme is co-developed with the International Finance Corporation (IFC) and L-PRESS.
- Africa Reinsurance CorporationcoreAfrica Reinsurance Corporation provides reinsurance capacity for the Index-Based Livestock Insurance (IBLI) scheme consortium. Their participation enables the consortium to underwrite livestock mortality risks linked to drought conditions in Ghana.
- International Finance Corporation (IFC)coreThe IFC (part of the World Bank Group) co-develops the Index-Based Livestock Insurance (IBLI) product with the consortium. The IFC provides technical assistance, satellite data infrastructure, and advisory support for the design and deployment of the IBLI scheme.
- L-PRESS (Livestock Productivity and Resilience in Sub-Saharan Africa Programme)minorL-PRESS collaborates with the IBLI consortium on the design and implementation of index-based livestock insurance, supporting the satellite data methodology and community engagement aspects of the scheme.
- Rex InsurancecoreRex Insurance is a co-insurer within the IBLI consortium alongside NSIA Insurance and Leadway Assurance Company, sharing risk and distribution responsibilities for index-based livestock insurance in Ghana.
- AIICO InsurancecoreAIICO Insurance is a co-insurer within the IBLI consortium alongside NSIA Insurance and Leadway Assurance Company, sharing risk and distribution for index-based livestock insurance products targeting Ghanaian pastoralist communities.
- Nigerian Agricultural Insurance CorporationminorNigerian Agricultural Insurance Corporation participates in the IBLI consortium alongside NSIA Insurance, providing agricultural insurance expertise and supporting the expansion of index-based livestock insurance across West Africa.
- Jolinaiko Travel and ToursminorNSIA Insurance partners with Jolinaiko Travel and Tours to distribute travel insurance products to customers of the travel agency. This partnership enables bundled travel insurance offerings for tourists booking travel packages.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
NSIA Insurance competitors and assessment
Company assessmentBroad incumbents
- Allianz Insurance Ghana: Allianz Insurance Ghana is the local subsidiary of global insurer Allianz, offering motor, property, and personal insurance products in Ghana. A broader incumbent with global capital and reinsurance backing, offering overlapping non-life capabilities but as part of a wider multi-line global portfolio rather than specialising in NSIA's Ghanaian focus.
- Old Mutual General Insurance Ghana: Old Mutual operates a general insurance business in Ghana offering motor, home, and business cover alongside its life and investment products. A broader financial services incumbent with overlapping non-life capabilities but a wider portfolio spanning life, pensions, and asset management.
Regional players
- AXA Mansard Insurance: AXA Mansard is a Nigeria-based general insurance carrier offering motor, property, marine, and personal accident products, part of the global AXA group. A regional peer operating in West Africa with comparable non-life product breadth, primarily serving the Nigerian market rather than Ghana.
- Leadway Assurance Company: Leadway Assurance is one of Nigeria's largest general insurance carriers, offering motor, fire, marine, and special risk products including leadership of the IBLI consortium in which NSIA Insurance participates. A regional peer with comparable non-life product depth and consortium-led innovation approach, primarily serving the Nigerian market.
Direct peers
- Hollard Insurance Ghana: Hollard Insurance Ghana is the local subsidiary of South African insurer Hollard, offering motor, home, business, and personal accident insurance through a multi-channel distribution model. Directly comparable to NSIA Insurance in non-life product breadth and digital-plus-branch distribution approach within Ghana.
- Enterprise Insurance Company: Enterprise Insurance is one of Ghana's largest non-life (general) insurance carriers, offering motor, fire, marine, and personal accident products through a branch and agency network across Ghana. Direct head-to-head competitor with NSIA Insurance for both retail and SME non-life accounts in the Ghanaian market.
- Ghana Union Assurance (GUA): GUA is a Ghanaian insurance company offering non-life products including motor, fire, marine, and personal accident insurance to retail and commercial customers. Operates as a direct peer to NSIA Insurance within the same Ghanaian general insurance segment.
- SIC Insurance Company: SIC Insurance is a Ghanaian state-linked general insurance company offering motor, fire, marine, aviation, and engineering insurance across Ghana. Competes directly with NSIA Insurance across the same non-life product lines and holds significant market share in the Ghanaian general insurance segment.
- Star Assurance Company: Star Assurance is a Ghanaian general insurance carrier offering motor, fire, marine, and personal accident products through branches and agents nationwide. Operates in the same non-life lines as NSIA Insurance and competes directly for the same retail and SME customer base in Ghana.
- Vanguard Assurance Company: Vanguard Assurance is a Ghanaian general insurance carrier offering motor, fire, marine, and personal accident products. NSIA Insurance's current MD rose through Vanguard's broker unit over 16 years, and Vanguard is a direct competitor in Ghana's non-life market.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
NSIA Insurance social profiles
Digital presenceNSIA Insurance compliance and trust
Trust signalCompliance1 record
NSIA Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
NSIA Insurance leadership team
Management profileNumber of profiles
Profiles16 records
NSIA Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NSIA Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NSIA Insurance
What does NSIA Insurance do?
NSIA Insurance provides a portfolio of non-life (general) insurance products in Ghana, including motor, travel, fire, home owners, marine, plant & machinery, personal accident, and assets all risk cover. Policies are distributed through a national branch network, a proprietary digital self-service platform (NSIAbiz via USSD, web, and WhatsApp), and agents/partner agencies, with products priced per policy period and claims settled via mobile wallet for small amounts.
Is NSIA Insurance a public or private company?
NSIA Insurance is a private company. It is classified as corporate owned and is currently operating.
When was NSIA Insurance founded?
NSIA Insurance was founded in 2010. It employs 51 to 100 people.
Where is NSIA Insurance based?
NSIA Insurance is headquartered in Accra, Ghana, in the Africa region.
How does NSIA Insurance make money?
One revenue line is on record: insurance Premium Revenue.
Who are NSIA Insurance's main competitors?
Broad incumbents on record are Allianz Insurance Ghana and Old Mutual General Insurance Ghana. Regional players are AXA Mansard Insurance and Leadway Assurance Company. Direct peers are Hollard Insurance Ghana, Enterprise Insurance Company, Ghana Union Assurance (GUA), SIC Insurance Company, Star Assurance Company and Vanguard Assurance Company.
Does NSIA Insurance have an API?
No public API is recorded for NSIA Insurance.
What industry is NSIA Insurance in?
NSIA Insurance's product category is Non-Life Insurance. Its primary akta.pro industry code is FSAJAMAN, Travel & Accident (Non-Life) Insurance. Its NAICS code is 52412 and its SIC code is 6331.