Business News of Wednesday, 10 October 2018
UT Life Insurance has announced a comprehensive corporate re-branding consisting of a new corporate brand name, a new identity, slogan and a renewed focus.
The company revealed its new name, miLife Insurance, along with its new slogan; Live More.
With a singular focus of positioning the customer at the heart of the business by making purchasing and owning insurance simple, affordable and more accessible, the financial institution’s vision is to “be the leader in helping Ghanaians build their dreams, one customer at a time.”
Chief Executive Officer (CEO) of miLife Insurance, Kwaku Yeboah-Asuamah, stated that the rebranding represents a new identity and a new beginning because as the business environment witnesses significant changes, there is the need to be responsive to the exigencies of the times and not remain static.
“With a forthright commitment to innovation and excellence, we cannot but position ourselves ready to help our customers realize their dreams through simplicity and affordability of service.” He averred.
Mr. Yeboah-Asuamah said the rebranding reflects both the evolution of the company as well as its vision for the future adding that miLife Insurance offers customers a new experience which will help them fulfill their ultimate goals and ambitions with relative ease and peace of mind.
Explaining the logo which is made of two oval shapes, he said the symbol represents the “purposeful union between us and our customers. Since ovals have no end, the union shows our commitment to a long lasting relationship founded on trust.”
Reiterating the company’s pledge to take care of the insurance needs of clients he added, “When we take care of the peripherals for you, you can concentrate on the core missions of life. This will help you live more, care more, love more, dance more, slay more, and swag more.”
On his part, Head of Supervision at the National Insurance Commission, Seth Eshun, lauded the new phase of the Insurance company but adviced management to focus on delivering excellence to customers and ensure that the company lives up to standard.
He said, “There are so many businesses that have odd names so it’s not necessarily in the choice of name that you give your company but it is the service. So this rebranding is a wonderful exercise but if it ends here, with all the glamour and we don’t give service to our customers, ten this event would have been useless. Engage in prudent underwriting and ensure that your company is solid.”
Although he acknowledged the current turbulence that has hit the financial sector, he indicated that the Insurance segment seeks to have a competitive market and not one which is overcrowded.
“We all know the state that we are in, in the financial sector. We know of the turmoil that we are in and it is not the best of times. We as an Insurance sector have been doing our best to make sure that our sector is insulated from some of these difficulties as much as possible.” Mr Eshun hinted.
A statement from Leapfrog Investments, miLife’s lead investor, read that the team “are focused on opening up accessibility to life insurance, by taking the complexity out of purchasing and owning insurance for all Ghanaians, opening the door to a more certain future, and giving customers the confidence to pursue their dreams and live more.”