As parts of its efforts of ensuring that all and sundry in the country have access to a quality insurance policy scheme, Ghana’s Telecom Leader MTN, has taken a judicious step by partnering with aYo Ghana Intermediaries to launch another innovative insurance product called “aYo Send With Care” underwriting by Metropolitan Life Insurance Ghana. This product which is first of its kind in the country is essentially packed to offer a peace of mind to its customers.
“aYo Send With Care” is an insurance policy running on MTN Mobile Money allows the MTN Mobile Money subscriber to add insurance cover to the money they send home via MTN Mobile Money.
Speaking at the launching ceremony in Accra, the Country Head of aYo Ghana Intermediaries Limited Mr. Francis Gota, stated unequivocally that the company is privileged to partner with MTN – the most widely used network and also the leading mobile money operator in the country. According to him, in Ghana insurance is still under-penetration. This he said, the ground –breaking product “aYo Send With Care “will ensure the good people of Ghana get relevant, accessible, and easy to use insurance policies.
Adding that, product has been designed to demystify insurance, make it affordable and also provide instant cover and rapid pay-outs on digital platform.
“aYo Send With Care will provide your loved ones back home with money for a full year . If you currently send money to your family through your MTN Mobile Money account for their upkeep, aYo will triple the amounts that you have sent over the last 4 months and use that as cover to pay out to those you take care of should anything happen to you. For instance, if you send GH¢200 per month and log a claim in month 4, aYo will pay GH¢200 x 4 months x 3 = GH¢2400 out over a period of 12 months”, he explained
According to Mr. Gota, the life cover will be paid out to your beneficiaries in the unfortunate event the policyholder’s passing. Hospital cover will be paid out if one has to spend night or more in hospital due to an accident.
“Anyone with an MTN Mobile Money account can Send with Care. All you have to do is to Dial *170#, select ‘Transfer Money’ and choose to Send with Care. The account does all the work for you by deducting a small portion from your MTN Mobile Money Balance automatically once you have decided to add Send With Care to the money you are sending home. This cost is based on a fixed 5% of the amount you send to your beneficiary”, he added.
aYo also rewards you for using Send with Care. Every time you Send your money with Care, you earn bonus value equal to 10% of the premium you are charged. Once you reach GH¢2.5, your bonus is cashed out to your MTN Mobile Money account.
Metropolitan Life Insurance Ghana is the a specialist life insurer with over 10 years’ experience in Ghana focused on providing lifetime financial wellness solutions to individuals, communities and businesses through innovations, excellence and integrity.
The General Manager for MTN Mobile Financial Services Mr. Eli Hini, hinted that MTN is taking mobile insurance to another level with the launch of “Send With Care” in partnership with aYo and Metropolitan Life Insurance.
This he said, their partnership confirms MTN’s commitment of rolling out innovative products and services that falls in line with their vision statement; leading the delivery of a bold digital world to their customers.
According to him, MTN Mobile Money has played a pivotal role in increasing access to financial services. The MoMo has evolved into an accepted mainstream method for transactions including payment for goods, services and utilities.
This he said, MTN has undertaken on its Mobile Money platform, in the first quarter of 2017, to introduced “ Y’ello Save”, a Mobile Money wallet based savings product targeted at both the banked and the unbanked populations who do not have a savings culture and access to traditional account.
Mr. Hini , noted that another service called “Tap2Pay “ was introduced to expand their payment points.
“Insurance provides help, security, safety and protection in times of need. Send With Care will provide the needed comfort you need in times of distress”, he emphasized.
By: Isaac Kofi Dzokpo/NewsGhana.com.gh