Customer base of tiGO Insurance hits 1.3m
tiGO Insurance, an innovation of mobile network operator, Milicom Ghana, has hit 1.3 million customers, six years after the service was launched to provide financial guarantee for users of the tiGO network.
Advertisement
The network has also paid more than GH¢5 million to about 8,000 customers as hospital and life insurance benefits within the period.
The Claims Manager of tiGO Insurance, Mr Nicholas Normeshie, disclosed these at a ceremony to pay claims to some customers in Accra.
Deductions
Under tiGO Insurance, customers are deducted GH¢1.50 to cover hospital and life insurance premiums.
Although the process has been gradual, Mr Normeshie said people had warmed up to the benefits of making small contributions towards an insurance policy and that included low-income earners.
“We have several customers who have become ambassadors for tiGO Insurance because of our prompt payment of claims when they were admitted to a hospital or lost a family member,” he said and added that: “They have seen and felt the impact of putting away small amounts of money.”
He explained that microinsurance offered a promising alternative for low-income earners and people in the informal sector to manage risk and use their assets more productively.
Distinct factor
On what sets the company’s services apart from its competitors, he said tiGO Insurance had designed products that met the needs of low-income earners.
Other Trending Stories
“For six years, tiGO Insurance has reached out to those in the informal sector and low-income earners to help them manage their risk and vulnerability through hospital and life insurance policies.
He commended efforts by the National Insurance Commission, the Ghana Insurance Association and donor agencies such as GIZ for intensifying public education on the numerous benefits of insurance.