{"id":391742,"date":"2017-05-23T09:18:57","date_gmt":"2017-05-23T09:18:57","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/05\/23\/ayo-introduces-insurance-services-on-mtn-mobile-money-platform\/"},"modified":"2017-05-23T09:18:57","modified_gmt":"2017-05-23T09:18:57","slug":"ayo-introduces-insurance-services-on-mtn-mobile-money-platform","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/05\/23\/ayo-introduces-insurance-services-on-mtn-mobile-money-platform\/","title":{"rendered":"aYO introduces insurance services on MTN Mobile Money platform"},"content":{"rendered":"<p><\/p>\n<div id=\"\">\n<p>Micro-insurance solutions provider, aYo, has made it possible for MTN subscribers to now enjoy insurance services on funds sent using their mobile money platforms.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>The product, known as \u2018aYo Send With Care,\u2019 allows MTN mobile money (MoMo) customers to add an insurance cover to all funds sent through MoMo.\u00a0<\/p>\n<p>&#13;\n\t\t\t<\/p><\/div>\n<div id=\"\">\n<p>Spearheaded by mobile telecommunications company MTN Ghana in partnership with aYo Holdings and Metropolitan Life Insurance Ghana, the product is aimed at making insurance relevant, accessible, easy to use and to help increase financial inclusion. \u00a0<\/p>\n<p>&#13;<\/p>\n<p>The Chief Executive Officer of aYo Holdings, Mr Imran Mahomed, said in an interview that insurance was normally bought as a concept but for \u2018Send with Care\u2019 in particular, payments that customers make through MoMo are protected.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u201cSo if you only want to pay or have cover on this regular transaction then you have the chance to do so in a digital way and very easy on the back of what you are already doing on MoMo, he said\u00a0<\/p>\n<p>&#13;<\/p>\n<p>He said that claims were facilitated through MoMo and the amount of documentation required was small to non-existent.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u201cIf you Send With Care you protect those payments so that MTN together with aYo can continue to fulfill your commitment for up to a year when you are not able to,\u201d he said.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>The General Manager for MTN Mobile Financial Services, Mr Eli Hini, at the launch in Accra said the partnership was indicative of MTN\u2019s commitment to the roll out innovative products and services in line with its vision to lead the delivery of a bold new digital world to its customers.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>He said MTN MoMo had helped immensely to increase access to financial services by evolving from a simple mobile phone service that facilitated financial remittances into an accepted mainstream method for transactions, including payment for goods, services and utilities.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>Mr Hini said the types of transactions enabled by MoMo had expanded to include deposits, investments, and bulk payments, and that the partnership with aYo further consolidated MTN\u2019s financial inclusion.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u201cInsurance provides help, security, safety and protection in times of need and send with care will provide the needed comfort you need in times of distress. I urge all customers to consider it,\u201d he said.\u00a0<\/p>\n<p>&#13;<\/p>\n<p><strong>How it works<\/strong><\/p>\n<p>&#13;<\/p>\n<p>The aYo Send With Care is aimed at demystifying insurance to make it affordable by providing instant cover and rapid pay-outs on a mobile phone digital platform.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>Money \u2018Sent with Care\u2019 attracts a five per cent fixed cost on the amount sent to a beneficiary.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>The aYo Ghana Representative, Mr Francis Gota, said money sent to families by individuals through MTN MoMo account, aYo will triple the amounts sent over the last four months and use that as cover to pay out to recipients should anything happen to the sender.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u201cIf you send GH\u00a2200 home every month for four months, your family will receive GH\u00a22, 400 paid out in installments of GH\u00a2200 per month for 12 months,\u201d he said.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>The life cover, he said, would be paid out in the unfortunate event that the holder passes away and the hospital cover would also be paid out if one had to spend a night or more in hospital due to an accident.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u201cAll you have to do is dial *170\u266f select transfer money and choose to send you money with care. But then you need to have sufficient funds in your MTN MoMo account to cover the cost of \u2018Send with Care,\u2019 he said.\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\u00a0<\/p>\n<p>&#13;<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t              <!-- new position --><br \/>\n          <!-- new position end -->\n\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Micro-insurance solutions provider, aYo, has made it possible for MTN subscribers to now enjoy insurance services on funds sent using their mobile money platforms.\u00a0 &#13; The product, known as \u2018aYo Send With Care,\u2019 allows MTN mobile money (MoMo) customers to add an insurance cover to all funds sent through MoMo.\u00a0 &#13; Spearheaded by mobile telecommunications [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-391742","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>aYO introduces insurance services on MTN Mobile Money platform - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/05\/23\/ayo-introduces-insurance-services-on-mtn-mobile-money-platform\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"aYO introduces insurance services on MTN Mobile Money platform - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Micro-insurance solutions provider, aYo, has made it possible for MTN subscribers to now enjoy insurance services on funds sent using their mobile money platforms.\u00a0 &#013; 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