INTRODUCTION

 Mutual Insurance Company (MIC) is the new and

innovative insurance company which offers a wide range of competitive insurance products to the Ghanaian public. Our intimate goal is to become the one-step-shop for all insurance needs, including insurance advisory service from our Advisory Bureau

.INTRODUCTION CONT…  Mutual Insurance is positioned as the youth/ student insurer providing customised services to the youth and students of this country who are at the very heart of our business.

they will hit the ground running with an array of exciting new products and services . The necessary structures have been put in place by the Directors and Management such that June when they are handed their operational license by the industries regulator National Insurance Commission (NIC).BUSINESS AND COMPANY  Mutual Insurance Company (MIC) will be rolling out its products and services to the people of Ghana by June 2009.

VISION  Mutual Insurance Company will position itself to become the first and most dominant youth/students insurer within the industry. technology and human resource development . In addition the company will become the pacesetters in innovation in terms of financial products.

MISSION  To provide innovation. convenience and competitive insurance products to value clients. through its highly motivated and efficient workforce and an assured commitment to deliver optimum returns to shareholders .

Western and Volta Region by year 2 each. the Northern sector of the country by year 3  Sponsor at least one student from selected base institution in their final year. .000.  Expand by setting up contact offices in all public tertiary institutions (base institution) in the southern half of the country (this includes the Greater Accra.OBJECTIVES  The objectives over the next two years are as follows:  Achieve sales revenue of about GH¢50. Central.00 by year one.

MANAGEMENT TEAM AND STRUCTURE  The Company has eight investors. all of whom are students in GIMPA. sell or dispose of any shares without informing the Board of Directors.  Mutual Insurance Company’s team of dedicated insurance management professionals are a carefully selected young crop of leaders who are self motivated and have the business at heart. They together own 100% or 200% private owned shares of the company as per our charter. . no investor can trade.

CONT…  An illustration of the company’s structure. curriculum vitae of the management team are on page …………of the appendix.  The company purposefully operates a very flat structure to ensure that management is constantly in touch with the needs of both its informal and external customers .

60% of the capital required would be used in financing our expansion project at our base institution as planned.500 shares to employee of (MIC). .  The strategy entails a further issuance of 1.FUNDING REQUIRED  Mutual Insurance company’s presently seeking to find new investor’s to help offset the industry regulator required minimum business operational) capital.

. the discovery of crude oil in commercial quantities as well as the competitive nature of the industry with the emergence of new entrants on the scene makes the insurance industry a viable option.  For expansion of the Ghanaian economy.MARKETS AND COMPETITION  The insurance industry in Ghana is one market that has over the years seen continues growth till date.

 Mutual Insurance Company with our strategy of focusing on the youth and tertiary students who together form some 30% of the Ghanaian population. there still is a vast pool of insurable asssets and resource left unexploited due to challenges such as illiteracy (ignorance of the need and purpose of insurance)lack of leadership will to commit resources to reaching the hinterland.MARKET TRENDS AND PROJECTIONS  There are about 23 licensed insurance companies operating in Ghana of which the top 3 alone commands control of almost 70% of the insurance market. the lack of vision from insurance management professions etc. Nevertheless. MIC will be able to make appreciable gains in its first 2 years of operation .

PROSPECTIVE CLIENTS  As enumerated in the above section. the youth and student will remain our core segment of the market as we look at other green areas of the Ghanaian economy such as first time home owners. their farms and produces as well as the skilled and unskilled labour markets. . farmers.

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