Accra, May 17 2017/- MTN Ghana, in partnership with aYo and Metropolitan Life Insurance Ghana today announced an innovative micro-insurance product dubbed Send with Care.
The product launched by aYo – a Joint Venture between MTN Group and MMI Holdings announced in September 2016, with a strong focus on delivering micro-insurance solutions across the African continent would provide insurance cover for transfer funds in Ghana.
The newly introduced Send with Care is aYo’s first product in the country. With this product, MTN Mobile Money customers can add insurance cover to all funds sent to their relatives and friends on the platform.
This is the first time that such a product is launched in the country’s competitive telecom industry, according to telecom analysts.
Adding aYo Send with Care to MTN Mobile Money transfers means that, in the unfortunate event of your passing or should you be hospitalized for a night or more due to an accident, aYo will pay triple the amount you sent to your beneficiaries, either in one lump sum or in 12 equal monthly instalments, depending on your cover level. All you have to do is dial *170# to start Sending your money with Care, according to senior officials of MTN Ghana and aYo.
Speaking at the launch, the General Manager for MTN Mobile Financial Services, Eli Hini said: “With this partnership, MTN is adding insurance to the many other services you can enjoy as an MTN customer. Today, MTN is taking mobile insurance to another level with the launch of ‘Send with Care’ which is a result of our partnership with aYo which is underwritten by Metropolitan Life Insurance Ghana”.
He therefore urged all customers of MTN Mobile Money to use the new product, stressing that Send with Care would provide the needed comfort for customers in times of distress.
Mr Hini explained that the partnership confirms MTN’s commitment to the roll out of innovative products and services and falls in line with the telecom company’s vision statement-“leading the delivery of a bold new digital world” to its customers.
He noted: “MTN Mobile Money has played a pivotal role in increasing access to financial services. From simply being a mobile phone service that facilitated financial remittances, MTN Mobile Money has evolved into an accepted mainstream method for transactions including payment of goods, services and utilities”.
“The types of transactions enabled by Mobile Money have expanded to include deposits, investments and bulk payments”, Mr Hini stated.
The Chief Executive Officer of aYo Holdings, Imran Mahomed maintained: “With this partnership, we will be able to provide relevant, accessible, and easy to use digital insurance for Ghanaians”.
“Our vision is to create a future where everyone uses insurance in Ghana and other parts of Africa”, he stated.
The Country Head for aYo Ghana, Francis Gota added: “aYo, together with MTN has made it possible for you to add insurance cover to the money you send home, using MTN Mobile Money, helping you look after your loved ones”.
Explaining the product, he said “Send with Care does the work for you by deducting a small portion from your MTN Mobile Money account 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 five percent of the amount you send to your beneficiary”. For instance: If you send GH¢100, the cost for Send with Care will be GH¢5.
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.
African Eye Report
