Business News of Thursday, 14 December 2017
AirtelTigo Insurance policy holders have reached 1.6 million, with 25,000 claims worth GHC 11 million paid out to customers since 2010.
The microinsurance product, which is being rolled-out in collaboration with BIMA and Prudential Life Insurance, shows that mobile-enabled insurance holds the key to insuring a greater percentage of the country’s population against unforeseen circumstances and promoting financial inclusion, if well-harnessed.
According to the three companies, the number and magnitude of the payouts indicate the increasing prevalence of insurance in Ghana and the vital role it plays in ensuring financial stability for families.
“The 25,000 claims demonstrate our commitment to help families get through challenging times; proving to our customers that we are able to pay claims in a quick and efficient manner has been a key driver of AirtelTigo Insurance’s success so far.
“It is our promise to customers that all valid claims are paid within three days, and we are currently experimenting with WhatsApp to make the claims process even easier,” said Russell Haresign, Country Manager of BIMA.
To mark the 25,000 claims milestone, AirtelTigo Insurance has also introduced a ‘No claims bonus’ to reward loyal customers who have not made claims with free airtime and data.
“With the introduction of the ‘No Claims Bonus’, we also want to show that loyal customers who fortunately didn’t make claims are also being rewarded in the form of free airtime and data,” Mr. Haresign, added.
Depending on the type of policy a customer signs onto – hospital support, life support or income protection – they can receive up to GH¢5,000 in claims.
“Insurance penetration in Africa is still extremely low, so it is particularly encouraging to see that Ghana is making such advancements. We are pleased with the tremendous impact that our work has had on the lives of so many Ghanaians in protecting families from life’s unforeseen circumstances. It has been a delight to partner with AirtelTigo and BIMA, and we look forward to bigger strides ahead,” Emmanuel Mokobi Aryee, CEO of Prudential Life Insurance noted.