Quality Insurance Company

What Quality Insurance Company does

Quality Insurance Company Limited (QIC) is a privately held, non-life insurance company headquartered in Accra, Ghana, licensed by the National Insurance Commission (NIC) under the Companies Code of 1963 (Act 179). The company has operated in Ghana's insurance market for over 20 years and was refocused exclusively on non-life products following the 2006 spin-off of its life insurance portfolio into Quality Life Assurance Company (QLAC) under Insurance Act 724. QIC serves both retail individuals and corporate clients across motor, home, travel, general accident, fire and allied perils, marine and aviation, money, liability, engineering, and agricultural insurance lines.

The company's product portfolio includes standard tiers (Motor Third Party, Motor Comprehensive, Homeowners Comprehensive, Travel) alongside differentiated, award-winning persona products: Go Girl, a women-focused motor policy with bundled courtesy car, car servicing, and DVLA renewal facilitation (CIIG Best Product 2019, Ghana Insurance Awards Product Innovation 2020); Golden Age, a Baby Boomer (55+) motor policy with 24-hour on-call, courtesy car, automatic renewal, and home medical lab services (CIIG General Insurance Product of the Year 2023); and a parametric Weather Index Crop Insurance offered in partnership with IBISA, which uses ECMWF satellite weather data to automatically trigger claims payouts within 10 working days for drought and excess rainfall events.

QIC distributes through 12 physical branches across all major regions of Ghana (Accra, Tema, Kumasi, Tamale, Takoradi, Ho, Koforidua, Sunyani, Cape Coast, Bolgatanga, Wa), supplemented by a nationwide agency coordinator network, insurance brokers, an institutional partnership with the National Catholic Secretariat, and technology-enabled self-serve channels including a USSD short code (*713*5255#), an online quotation e-portal, WhatsApp business integration, and POS terminals. Revenue is generated primarily through non-life insurance premiums collected across consumer and corporate lines, with risk transferred to a panel of global and regional reinsurers including Munich Re, WAICA Re, Africa Re, and Mainstream Reinsurance.

Name

Quality Insurance Company

Legal name

Quality Insurance Company Limited

Website

https://qicghana.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Quality Insurance Company (QIC) is a privately held Ghanaian non-life insurer, licensed by the NIC, serving retail individuals and corporate clients with motor, home, travel, general accident, fire, marine, aviation, liability, engineering, and parametric agricultural insurance products distributed via 12 branches and digital channels across Ghana.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro industry

PRIMARYFSAJAAAA

Standard Personal Auto Insurance (Liability, Collision & Comprehensive)

Financial & Insurance/Insurance — Motor, Property & Casualty/Personal Auto Insurance

SECONDARYFSAJAMAN

Travel & Accident (Non-Life) Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Motor Vehicle Liability Insurance

SECONDARYFSAJAJAD

Personal Accident Insurance (Injury, Disability & Income Benefit)

Financial & Insurance/Insurance — Motor, Property & Casualty/Travel & Accident (Non-Life) Insurance

Keywords

• Non-life insurance
• Motor insurance
• Parametric crop insurance
• Property and casualty
• Liability insurance

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Non-Life Insurance Premiums: QIC generates revenue primarily through insurance premiums collected from policyholders across multiple non-life insurance product lines including motor, travel, general accident, home, fire, engineering, liability, money, marine, and agricultural insurance. Premiums are collected as one-time or periodic payments depending on the policy type.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Quality Insurance Company (QIC) is a Ghanaian composite non-life insurance provider licensed by the National Insurance Commission. It underwrites and distributes motor, travel, home, fire, marine, aviation, money, general accident, general liability, engineering, and parametric agricultural insurance products. It serves both retail individuals and corporate clients through 12 physical branches, an online portal, USSD, WhatsApp, a nationwide agency network, and broker channels.

Product overview

Quality Insurance Company (QIC) is a composite non-life insurance provider in Ghana offering a comprehensive portfolio of insurance products designed for both retail individuals and corporate clients. The product portfolio is organized into core insurance lines (Motor, General Accident, Travel, Home/Fire, Marine, Money, Liability, and Engineering) with specialized sub-products and add-on tiers. Notable innovative offerings include the Go Girl policy (women-focused motor insurance), Golden Age policy (Baby Boomer motor insurance), and Weather Index Insurance (parametric agricultural coverage via IBISA partnership). The company emphasizes technology-enabled convenience through USSD payments, online portals, WhatsApp integration, and quick claims processing. Core products include Motor Insurance (with Kingly & Queenly, Go Girl, Golden Age tiers), General Accident (Burglary, Assets All Risk, Goods-In-Transit), Travel Insurance, Homeowner's Comprehensive, Fire and Allied Perils, Marine Hull and Cargo, Aviation, Money Insurance (with Fidelity Guarantee, Bankers Indemnity), General Liability (Workmen's Compensation, Group Personal Accident, Public/Product/Professional/D&O Liability), Engineering (Machinery Breakdown, Contractors All Risk, Business Interruption, Electronic Equipment, Bonds), and Agricultural Weather Index Insurance. QIC operates 12 branches across Ghana with digital distribution channels including USSD (*713*5255#), ePortal, and WhatsApp.

Differentiator

Problem solved

Functional benefit

Brands

• Go Girl: Comprehensive motor insurance policy designed specifically for women. Won CIIG Insurance Product of the Year in 2019 and Product Innovation Award in 2020 by Ghana Insurance Awards.
• Golden Age
• Kingly Queenly

Products and services

• Motor Insurance

Quantifiable outcome

• Claims paid within 10 working days for weather index insurance triggered events
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Centre for Ageing Studies, University of GhanacoreStrategic or Co-development Partner · 1 January 2022QIC partnered with the Centre for Ageing Studies of the University of Ghana to launch the National Ageing Summit, the first of its kind in Ghana. The partnership aims to create awareness about the needs of the elderly and promote QIC's Golden Age Comprehensive Motor Insurance Policy targeting Baby Boomers (aged 55+).
• IBISAcoreTechnology or Integration · 1 January 2021QIC partnered with IBISA, a parametric insurance platform, to offer weather index crop insurance to farmers and agricultural businesses in Ghana. The partnership leverages IBISA's platform and satellite-based weather data from ECMWF to provide automatic claims payouts when predefined weather conditions are met, eliminating the need for onsite assessments.
• DeloitteminorOthersDeloitte is shown as a partner logo on the QIC website, likely providing professional services such as audit, consulting, or advisory services to QIC.
• Quality Life Financial Trust Ltd (QFTL)minorStrategic or Co-development PartnerQFTL is an affiliated company with shared branding, and Petrina Eileen Frimpong serves as Company Secretary of both QIC and QFTL. The companies appear to have a collaborative relationship in providing complementary financial services products.
• Korle Bu Teaching Hospital (Pediatric Unit)minorOthersA percentage of all Go Girl premiums is contributed to support the building of a Childhood Cancer Center at the Korle Bu Teaching Hospital, demonstrating QIC's corporate social responsibility commitment linked to its Go Girl product.
• Global ResponsecoreTechnology or IntegrationGlobal Response provides 24/7 medical emergency assistance services for QIC's travel insurance clients worldwide. Operating 365 days a year, Global Response provides medical assistance including emergency evacuation, medical expense approval, and repatriation across multiple global locations including the UK, South Africa, USA, Hong Kong, and Spain.
• Sirius International CorporationcoreTechnology or IntegrationSirius International Corporation is QIC's travel insurance partner that provides the policy wording, claims processing support, and emergency assistance framework. QIC's travel insurance clients contact Sirius International's emergency numbers while abroad for medical emergencies and claims assistance.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SIC Insurance Company: SIC Insurance is a state-linked composite insurer and one of Ghana's largest, with deep branch reach and a full non-life product suite including motor, fire, marine, and engineering. SIC competes directly with QIC on price, distribution, and corporate accounts.
• Star Assurance Company: Star Assurance is a major Ghanaian non-life insurer offering motor, fire, marine, aviation, and engineering products through branches and agents. It is a like-for-like competitor to QIC in product portfolio and target segments, both targeting Ghana's growing middle class and corporate accounts.
• Vanguard Assurance Company: Vanguard Assurance is a Ghanaian non-life insurer providing motor, fire, marine, and personal accident coverage to retail and corporate customers. It competes with QIC in the same domestic market across comparable product lines and distribution channels.
• Enterprise Insurance Company: Enterprise Insurance is one of Ghana's largest composite non-life insurers, offering motor, fire, marine, liability, and engineering lines through a multi-branch network. Like QIC, it underwrites both retail and corporate risks in Ghana and competes head-to-head for the same customer base.
• Coronation Insurance Ghana: Coronation Insurance Ghana is a general non-life insurer offering motor, fire, and commercial lines through branches and brokers. QIC's current Head of Sales & Marketing previously led a team at Coronation, evidencing direct competition for talent and customer accounts in the same market.
• Hollard Insurance Ghana: Hollard Ghana (formerly Metropolitan Insurance) is a major general insurer offering motor, home, and commercial lines via agency and broker channels. Multiple QIC executives (CEO, Head of Operations, Head of IT) came from Metropolitan/Hollard, and the two compete directly for talent and customers.

Emerging players

• ACRE Africa: ACRE Africa designs and distributes parametric weather-index crop and livestock insurance across East and West Africa using satellite data. Its Africa-wide parametric platform makes it a directly comparable peer to QIC's ECMWF/IBISA-based Weather Index product, especially as ACRE expands into West African markets.
• Pula Advisors: Pula is a leading Africa-focused parametric agricultural-insurance provider that bundles satellite-indexed crop and livestock cover with input-distribution partners. It is comparable to QIC's Weather Index Insurance line via IBISA, and increasingly competes for the same Ghanaian farmer segment.

Broad incumbents

• Old Mutual Ghana: Old Mutual Ghana is a broad financial-services incumbent offering life, non-life, investments, and wealth management across branches in Ghana. While its general-insurance arm overlaps with QIC's motor and home lines, its portfolio breadth positions it as a larger, more diversified competitor.
• AXA / Sunu Assurances Ghana: AXA (now Sunu Assurances in Ghana) is an international insurance group operating a general-insurance franchise in Ghana. It competes with QIC on motor, home, and commercial lines but draws on global underwriting capacity, brand, and a broader product suite across multiple African markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/qicghana
• Facebookfacebook.com/qualityinsuranceghana
• LinkedInlinkedin.com/company/qic-ghana-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Quality Insurance Company