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| MD of Hollard Life Assurance Nashiru Iddrisu |
The
insurance product, called ‘MeBanbÉ”’ – loosely translated to ‘My
Protection’ – can be easily accessed via a mobile phone by dialing USSD
code *269#.
MeBanbÉ” offers tailored packages of GHS 1 000, GHS 5
000, GHS 15 000 and GHS 30 000 funeral and disability cover for premiums
as low as GHS 1, GHS 5, GHS 15 and GHS 30 respectively. It is the first
micro-insurance product of its kind offering packages that suit
different personal needs. It is open to persons older than 18 years who
use the Vodafone mobile network.
Patience Akyianu, Group CEO
of Hollard Ghana, the parent company of Hollard Life Assurance,
described the launch of MeBanbÉ” as a significant milestone in the
business’ quest to enable more people to create and secure a better
future.
Patience said: “Our business goals are tied to our
purpose to ensure access to insurance as a social good and an enabler of
better futures. We make it a point to be a catalyst for enduring change
by providing insurance products that serve the needs of our customers.
MeBanbÉ” is a prime example of this, and we are proud to bring it to
market in partnership with Cassava Fintech and Vodafone Cash.”
Nashiru
Iddrisu, Managing Director of Hollard Life, said: “We developed MeBanbÉ”
after engaging with potential customers in underserved markets who
expressed interest in securing their financial wellbeing against
unexpected incidences, such as funerals and disability.
“However, they also revealed a reluctance to sign up for traditional life insurance products because of the seemingly unaffordable premium amounts, modes of payment and claims collection process. MeBanbÉ” eases these concerns. It is made for them, affording everyone the opportunity to plan their future wellbeing simply via mobile money, in amounts that suit their pockets and with an equally simple claims process,” Iddrisu said.
MeBanbÉ” is currently available via Vodafone Cash and made possible through a partnership with Vodafone. Head of Vodafone Cash, Martison Obeng-Agyei, said: “Our decision to partner the MeBanbÉ” Insurance initiative was intuitive because this is yet another example of an innovative and affordable insurance product for Ghanaians.
This creates a golden opportunity for scores of hitherto underserved persons and communities to avail themselves of the benefits of insurance to secure themselves and their loved ones against future upheavals, and ultimately improve their quality of life. Inclusion is one of our pillars as purpose-led organisation and undoubtedly a critical prerequisite for equitable growth as a country.’’
In a statement,
Godwin Mashiri, the Head of Cassava Fintech International’s Mobile
Insurance Business, the platform provider for MeBanbÉ”, said: “We are
very excited to be a part of this partnership with Hollard Life
Assurance to launch MeBanbÉ” in Ghana. This partnership demonstrates and
underscores our commitment towards a socially and financially inclusive
future that leaves no African behind. It is our hope that the launch of
MeBanbÉ” in Ghana will enable those who could not access affordable
insurance cover to benefit from this product. This partnership will not
be the last as we continue to provide a platform which improves the
lives of everyday people across the continent.”
MeBanbÉ”’s product
messaging campaign in English, Twi, Ga, and Dagbani languages
encourages the public to sign up for “plenty asomdwee, toinjol3 or
suh'doooo” via *269# on the Vodafone network. It features the popular
comedian and TV personality Akrobeto, and local boxing champion,
comedian and TV presenter Bukom Banku, as taxi drivers discussing the
financial wellbeing that funeral and disability insurance cover brings.
About Hollard Life Assurance
Hollard
Life is a subsidiary of insurance group, Hollard Ghana, which combines
its deep local knowledge of the market with the world-class expertise of
an international insurance brand. With feet firmly planted on Ghanaian
soil but Headquartered in South Africa, Hollard delivers innovative
insurance solutions customised to the unique risks Ghanaians face.
Hollard was previously Metropolitan Insurance which operated in Ghana
for over 25 years.
Hollard Life Assurance offers various life
insurance products including funeral, personal accident, savings and
investment, group Life insurance and employee plans, and more. Beyond
various nationwide office branches and agents, Ghanaians can find
Hollard at Shell Fuel Station Welcome Shops, and some Melcom stores
across Ghana.
About Vodafone
Vodafone Cash
is the mobile financial services subsidiary of Vodafone Ghana. Vodafone
Cash provides a mobile money solution that empowers subscribers to
perform an assortment of financial services on their mobile devices.
With
about 70% of the Ghanaian population still unbanked, the services
provided by Vodafone Cash have proven to be integral in the promotion of
a cash-lite society and contributed immensely in improving digital
inclusion and access to finance for all Ghanaians.
The suit of
services offered to customers on Vodafone Cash include: depositing
funds, cash withdrawal, money transfer, airtime purchase, paying bills
and buying goods. Vodafone Cash also makes it possible for businesses to
accept electronic money as a form of payment and also to send money in
bulk to their customers or employees. As businesses strive to leverage
on their strengths to grow and deliver superior service, Vodafone Cash
proposes flexible, innovative and effective solutions to meet their
payment needs.
Vodafone Cash continues to invest in expanding
its agent network to support the expansion of the mobile money ecosystem
and is fully committed to utilizing its cutting-edge digital technology
and expertise to help Ghanaian businesses grow.
About Cassava Fintech International
Cassava
Fintech International is a pan-African business that use an integrated
model to drive financial inclusion and digital transactions across the
continent. Its core operations are Mobile Money, Social Payments
Services, Digital Banking, International Remittances and Mobile Micro
Insurance. Cassava has a presence in Zimbabwe, South Africa, Burundi,
Lesotho and the United Kingdom, as well as partnerships in several other
African countries, including Ghana.
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