Two insurance giants – Enterprise Insurance a leading underwriter and KEK Insurance Brokers an intermediary have collaborated to launch four unique products onto the market.
The products: CompExtra, Third-Party Amplified, Home Advantage are enhancements of existing products such as Motor and Home Insurance. The fourth, Petinsure is an entirely new one that has been introduced to give extra value to customers were launched on Tuesday in Accra
The CompExtra gives customers who subscribe to the Motor comprehensive policy extra benefit such as loss of use, Misfuelling and an Extra Personal Accident cover during ridesharing.
The Third-Party Amplified gives customers additional cover for their Windscreen, Side-mirror, and Minor scratches, while the Home Advantage is a bundle of Home Insurance and Pet Insurance.
For the first time in Ghana, the collaboration has introduced Petinsure (Pet Insurance) to the market. This product provides cover for Medical expenses, Accidental death, Public liability, Injury to caretaker and more to customers’ pets.
Speaking at the launch, Dr. Justice Ofori- Commissioner of Insurance, National Insurance Commission (NIC) said ‘’Product development and innovation is one of the key initiatives to drive growth in our industry. As an industry, if we are to achieve growth in line with NIC’s strategic objective of increasing Gross Premium Income to GHC 10 billion, in the next five years, we certainly have to offer more value to our customers and seek to break new grounds. A great example has been set by the partnership between these two entities. This deserves Commendation.’’
Daniel Larbi-Teiku, Deputy Chief Executive Officer-Enterprise Group said, ‘’At Enterprise, we pride ourselves with the attributes of Excellence, Authority, Perfection and Strong Heritage. Our brand in summary wields the personality of the Thoroughbred horse. We are happy to say we found similar attributes in KEK Insurance Brokers making our partnership a natural fit.’’
Shaibu Ali, Managing Director of KEK Insurance Brokers emphasized that, ‘’The products, namely, CompExtra, Third-Party Amplified, Home Advantage and Petinsure, have been designed with the customer in mind. The days when insurance providers offer customers the same ‘off the shelf’ insurance products in exchange for their premiums are over. The customers of insurance have become increasingly sophisticated and want to see the use of every premium the pay. Insurance providers must therefore offer real solutions to the insurance needs of customers. This is what the KEK, and Enterprise have come together to do and we are excited about it.’’
The launch was attended by dignitaries in the insurance industry such as the Commissioner of the NIC, Council members of the Insurance Brokers Association of Ghana (IBAG), the CEO of Ghana Insurers Association (GIA) as well as Executives of both Enterprise Insurance and KEK Insurance Brokers.
The products can be purchased from branches and Agents of Enterprise Insurance nationwide as well as the offices of KEK Insurance Brokers and other Insurance Broking firms..