aYo Intermediaries Ghana Limited says it has reached over 1 million subscribers on its insurance product known as Recharge with Care, since launch of the product in April 2018.
The company, established to distribute insurance solutions to MTN subscribers in Ghana and Africa, attributed the significant growth in subscribers to timely payment of claims to policyholders and leveraging on technology to give policyholders an awesome customer experience.
aYo Ghana, which currently runs two insurance products underwritten by Metropolitan Life Insurance Ghana – namely Send with Care and Recharge with Care for Ghanaians especially low to middle-income mobile users – also attributed the growth to its sustained micro-insurance campaigns supported by MTN Ghana to improve household resilience in eventualities.
Commenting on the milestone, Country Head for aYo Ghana, Francis Gota said: “The vision of aYo is to provide a future wherein everybody uses insurance by leveraging on technology to provide relevant, accessible and easy-to-use insurance solutions that give peace of mind and improve the financial wellbeing of subscribers.
“We are so excited about this landmark achievement, because over 1 million Ghanaians can go about their daily activities with confidence since they have access to insurance. This is very important for financial inclusion and insurance penetration in Ghana.
“We also want to use this occasion to thank our subscribers and partners, especially MTN Ghana and Metropolitan Life Insurance Ghana for their continuous support,” he said.
Mr. Gota emphasised that: “aYo Ghana started its operations in April 2017 and launched its first product named ‘Send with Care’ on May 10, 2017, in partnership with Metropolitan Life Insurance Ghana and MTN Ghana Limited.
“aYo Send with Care leverages on the remittances behaviour of MTN Mobile Money (MoMo) subscribers to offer insurance cover for both the sender and recipient of the remittance.”
On the other hand, Recharge with Care – the second product – was launched on April 5, 2018, and has since enjoyed massive enrolment.
Mr. Gota stressed: “Recharge with Care offers life and hospital insurance cover every time you recharge your airtime. You can get up to GH¢50 per night for each night spent in hospital as an in-patient to support your hospital admission bills.
“In addition, you can get up to GH¢3,000 life insurance cover for yourself and one family member to cater for funeral expenses without any stress or hassle.”