Organisational Structure

PIC employs both the Direct Sales and the Agency System to distribute it products. The distribution channels employed include Exclusive Agents, Salaried Marketing Offices and Brokers. The company has its head office in Accra, supported by branch offices in five other principal cities and towns namely Kumasi, Tema, Takoradi, Cape Coast and Obuasi.
 
The company’s policy over the years has been to operate a limited number of branches and agency offices in order to facilitate efficient and effective monitoring and control.

The Branch Offices  carry out the assignments of the Head Office and are directly supervised by the head office in the financial management of the office.  The staff in the branch offices are employees of the company who receive salaries and enjoy the same benefit packages as head office staff.  Under the direct sales approach, the company employs marketing officers (salaried staff) to solicit for business, typically targeting group/corporate accounts.

In addition to the direct operations and our registered agents, the company works with and through all brokers registered with the National Insurance Commission.  As at Sept. 30, 2007, Provident Insurance Company has contractual arrangements with about 87 Agents, selling solely the products of Provident Insurance Company.  The Agents are distributed across the regions as follows:

The strong network of field force gives Provident Insurance Co. an added  competitive advantage over its peers.