SIC Life Insurance LTD Hosts 2025 Sika Plan Retreat to Strengthen Strategic Vision
SIC Life Insurance LTD recently organized its 2025 Sika Plan (microinsurance) Retreat, a key event aimed at raising awareness among staff about the improved Sika Plan product and aligning the team with the company’s long-term strategic goals. The retreat took place at the AVI event center in Accra from October 29th to 30th, 2025.
The event brought together management and key staff members from across the country, with notable attendance from the Managing Director, Board of Directors, and senior executives. This gathering served as a crucial platform for knowledge sharing, collaboration, and the development of new strategies to drive growth for SIC Life’s microinsurance product, Sika Plan (Okum Ka).
Key Topics and Training Sessions
Participants engaged in a series of training sessions and presentations that covered essential topics such as:
- The Sika Plan Product Launch
- Digital Transformation of Sika Plan
- Overview of susu products from a Rural Bank Perspective
- Microfinance and Digital Transformation – Failures and Successes
- Relaunching Sika Plan
- Marketing and Communications Roadmap
These discussions were designed to deepen understanding of the product and its potential impact on the market. Additionally, there were extensive conversations about new dimensions for Sika Plan, focusing on how innovation, customer engagement, and technology can be leveraged to reposition the product for greater market influence.
Strategic Insights and Action Plans
The sessions also explored strategic insights, key takeaways, and action plans to ensure the successful implementation and sustainability of the enhanced Sika Plan. These initiatives are critical for maintaining the product’s relevance and effectiveness in an evolving financial landscape.
In his address, the Managing Director, Ing. Solomon Twum Barima (Esq), praised the staff for their dedication to excellence and encouraged them to take ownership of the enhanced product. He emphasized that the Sika Plan remains central to SIC Life’s mission of providing accessible and secure life insurance solutions for all Ghanaians. According to him, the updated Sika Plan reflects the company’s forward-thinking approach to meeting the changing needs of clients in a digital-first financial environment.
Dr. Jonathan Asante Ochere, Ph.D, a board member who represented the Board Chairman of SIC Life, commended the management for the successful organization of the retreat. He highlighted the Board’s continued support for the company’s transformation agenda, reinforcing the importance of this initiative in driving future growth.
Renewed Enthusiasm and Future Goals
The retreat concluded with renewed enthusiasm among participants to advance the company’s vision and transformation agenda. Attendees expressed a strong commitment to leveraging innovation and teamwork to strengthen SIC Life’s position as a leader in the life insurance industry.
About the Sika Plan (Okum-Ka)
The SIC Life Sika Plan is tailored for both formal and informal workers. It operates on the traditional “susu” model, offering life insurance coverage alongside savings opportunities. This flexible product allows users to save, protect their businesses, and secure the well-being of their loved ones.
With the Sika Plan, policyholders can make daily, weekly, or monthly contributions that not only accumulate as savings but also unlock access to microinsurance benefits, including:
- Death/Disability benefit up to GHS 150,000
- Interest payment on Savings
- CASH BACK on Maturity
- Partial withdrawal once a year
- NO FEES OR CHARGES for Surrender or Partial Withdrawals
Features of the Sika Plan (Okum-Ka)
Some of the standout features of the Sika Plan include:
- Daily, weekly, or monthly Savings
- Contribution payment via MoMo or doorstep collection
- Quick claims within 24 hours