Incorporation

In the year 2000, ELAC was incorporated through a partnership between EIC and African Life brought together with the IFC. In September 2001, ELAC had its Life Assurance License and started operations with 9 members of staff and 32 Sales Reps.

Sales Force

Over the years ELAC has built and developed a distribution model, which is one of the most effective in our Industry. The Sales Force has been developed through a strict selection process, intensive training and well-structured performance management system.

Growth

ELAC has had impressive growth since 2001 and currently is the second biggest Life Assurance Company. ELAC has 6 branch offices in Total House - Accra, Roman Ridge - Accra, Tema, Sunyani, Takoradi and Kumasi and 5 Sales Offices in Koforidua, Ho, Spintex Road Accra, Obuasi and Tarkwa. ELAC has established pay points relationship through which it distributes its products with over 300 companies in Ghana including most of the top 100 Companies.

Operations

Our efficient operations have been built around high standards, robust technology and quality staffing. All branches are on the company's Wide Area network. Our human resource development process over the years has resulted in capable and dynamic young people with a passion for what they do. This has been the source of improvement in our operational efficiency. Our staff has continuously been placed on management development programs both local and international. This has given us the critical mass to offer quality management of our operations.

Customer Services

One of our cardinal objectives has always been, improving service delivery to our policyholders. It is always our desire to improve the satisfaction level of policyholders. Paying claims within 48 hours upon receipt of all documentation epitomizes this. The total benefit payment for the year 2006 of ¢7.3 billion, is a measure of the value we have added to peoples lives, financial needs we have met, and frustration, desperation and deprivation we have helped to alleviate.

We introduced the use of SMS communication with Policyholders and also have started making claims payment through Electronic Funds Transfer (EFT).

Social Responsibility

As part of our social responsibility, ELAC has made donations to the World Vision, Tema SOS and the Cardiotherasic Center amongst others.