Star Assurance has together with its Corporate Agency, AssureAdvisors Limited, launched two re-packaged personal insurance products into the Ghanaian market.
Branded Star Personal Guard and Star Stock Assure, these two products provide tailor-made insurance cover for the public. The Star Personal Guard is a 24hr personal accident policy that provides compensation to the insured or his legal representative for death, permanent disablement and medical expenses, while the Star Stock Assure protects retailers and other commercial enterprises that sell merchandise against fire and its allied perils.
These repackaged products will be underwritten by Star Assurance, and are available on all its platforms, with active sales and marketing support provided by all intermediaries of Star Assurance.
“These products reflect the ongoing pace of change in the general insurance industry, taking into account the changing needs of consumers,” Ms. Doreen Denu, the General Manager of AssureAdvisors, said in a brief statement.
She continued: “We have leveraged the financial strength and claims management expertise of Star Assurance and the market insight, passion and customer service skills of the team at AssureAdvisors to bring this suite of products to the general insuring public”.
Star Personal Guard is a tailor-made, no-frills personal accident policy for everyone. It covers death, permanent disablement and medical expenses. The policy has three (3) main limited options, namely: Platinum, Gold and Silver options for its target market. The Silver Cover provides death and permanent disablement limit of GH¢5,000 and a medical expense limit of GH¢1,000, while the Gold Cover provides a death and permanent disablement limit of GH¢10,000 and medical expense limit of GH¢2,000. The last and the widest cover under Star Personal Guard is the Platinum Cover. It provides a death and permanent disablement limit of GH¢20,000 and a medical expense limit of GH¢5,000. Additionally, the policy can be readily assigned to any beneficiary; indeed, the capital sum is protected and can be bequeathed to dependents.
The second product, Star Stock Assure, provides insurance cover for various merchandise against key perils such as fires, explosions, riots, strikes, and impact by animals, earthquakes, floods and other elements that could pose a threat to businesses. Under this policy, a holder’s stock is well-protected and contractually assured.
“Star Assurance is known for its accomplishment in simplifying insurance for customers, and we believe this is important. AssureAdvisors looks forward to working with Star Assurance in taking this exciting step to launch products together as they travel this journey”, Ms. Denu concluded.
On his part, Mr. Michael Adomako, Product Development Manager of Star Assurance had this to say: “We have once again demonstrated our commitment to the insuring public and are excited about this collaborative effort with AssureAdvisors. We look forward to many other such partnerships with the ultimate aim of bringing credible insurance solutions to our clientele”.