Ghana’s leading mobile microinsurance company, aYo Intermediaries Ghana, picked up two top awards at the recently held Ghana Insurance Awards 2022, stamping its authority on the country’s microinsurance space.
aYo Ghana, a subsidiary of MTN Ghana, walked away with plaques for the Mobile Insurance Leadership award and Best Growing Intermediary Firm of the Year award. The company won those two out of four nominations for the night.
aYo’s range of two policies – Recharge with Care (RwC) and Send with Care (SwC) – tower above other products in the mobile-based microinsurance space; and they are driving-up insurance penetration significantly, particularly among the informal sector.
The company recently marked its fifth year in the Ghanaian market, churning out some very impressive numbers in terms of subscribers as well as volumes and value of claims settled so far.
But it has since improved on those numbers. Currently, its customer base stands at 8.74 million plus, comprising of about 7.3 million Recharge with Care customers and about 1.5 million Send with Care customers.
Year to date, aYo has paid out about GH¢10.56million in claims to over 32,524 policyholders and beneficiaries.
aYo in partnership with MTN provides microinsurance solutions which leverage on technology to give all MTN subscribers and Ghanaians (particularly low-middle income and informal sector workers who are most vulnerable to risk/daily eventualities) relevant, affordable, accessible and easy-to-use insurance.
Products
As stated above, aYo has two main lines of products – Recharge with Care and Send with Care.
Recharge with Care (RwC) gives the policyholder up to GH¢120 per night as hospital cover upon admission to support admission bills, and up to GH¢6,000 as life cover on the unfortunate passing of the policyholder or a registered family member who is an additional life on the policy for free. All of that costs the policyholder only GH¢6 per month via airtime deduction. To access RwC, one simply needs to dial *296# and sign up.
Send with Care leverages on MTN mobile money and gives the policyholder up to GH¢30,000 Hospital and Life insurance cover benefits while the receiver of the MoMo also receives up to GH¢3,000 Life cover on the unfortunate passing of the sender.
SwC can be found on the regular MTN MoMo short code *170#; select option 1 (transfer money), select option 3 (Send with Care) and follow the prompt. When one opts for SwC, 5 percent of the amount he or she sends at any time will be deducted as premium from the wallet.
RwC Annual Cover
Meanwhile, as part of its fifth-year anniversary aYo has introduced a new feature to the Recharge with Care (RwC) policy, dubbed RwC Annual Cover, which enables RwC policyholders to get 12 months cover of GH¢6,000 Life and GH¢120 Hospitalisation benefit, at a one-time premium of GH¢130 annually.
In addition, policyholders get to earn 10% cash-back if no claims occur within the 12 month-cover period. The Recharge with Care Annual Cover feature is based on user feedback and lessons gained since the launch of RwC in April 2018.
Aside from the benefits mentioned, RwC Annual Cover gives customers opportunity to avoid missing some monthly premiums so they have peace of mind – knowing they are covered for the whole year in case of any eventuality. The company pointed out there are No E-levy charges on premiums paid.
For further enquiries, one can find aYo on Facebook, Twitter and Instagram with the name aYo Ghana; or reach them on WhatsApp number 0596918235 or call 100 on MTN. Customers can also dial *296#, select option 1 (continue), then option 8 (more info), then 6 (more), and 4 (request call back).
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