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Economy

aYo defies economic headwinds to give customers value

aYo Intermediaries Ghana Limited, a leading microinsurance company has defied economic headwinds triggered by the Covid-19 pandemic to show its commitment to the economic wellbeing of its customers in the country.

The company which offers Hospitalisation and Life Insurance Cover through its two insurance products namely ‘Send with Care’ and ‘Recharge with Care’ continued to give value to its customers through claim payments.

It paid claims in value of ¢2,394, 687 to over 8,000 customers showing a significant increase in its claim payment by over 170% compared to 2019 where a total of ¢872,987 claims were paid in value.

This brings the total claims paid since the inception of the company 4 years ago to ¢3,319,500.00.

The upsurge in the spread of the Covid-19 pandemic in the year 2020 has had hostile impacts on the global economy even as governments and corporate organizations around the world continue to implement strategic measures to contain it.

The Ghanaian economy equally received a dose of the global economic shocks following the outbreak of the Covid-19 pandemic in March 2020 which impacted all sectors of the economy and compelled many businesses to restructure.

In the heat of the global pandemic, aYo launched a campaign dubbed ‘Free Covid-19’ benefit to re-emphasise its value of showing care as it sought to put smiles on the faces of its customers during the challenging period.

The campaign which ended in December 2020 saw a total of 27 customers receiving ¢27,000.00 on Covid-19 related claims in addition to their claim benefits at no extra cost.

Ultimately, the company reviewed its Recharge with Care policy benefits with the customers’ best interests at heart.

With its revised billing plan in August 2020, aYo Ghana began to offer up to GH¢100 per night cover and GH¢6,000 life cover to customers which is a massive boost on the initial GH¢50 per night cover and GH¢3,000 life cover.

Drivers of growth

Commenting on the impressive performance, the CEO of aYo Ghana, Francis Gota, said: “We value our customers and are focused on securing their financial wellbeing despite the challenging times.

"We are committed to providing a future where everyone leverages technology to access services like insurance because they are readily accessible and easy to use”.

He added, “We encourage our customers to continue to observe the Covid- 19 protocols in order to protect themselves and their loved ones because they care”.

Ag CEO Sam Addo of MTN Ghana congratulated aYo Ghana for the significant strides achieved in the insurance sector.

He noted that accessibility to insurance services at the convenience of the customer through mobile telephony is a novelty that MTN Group sought to champion when aYo was launched.

Products

According to the company, over 4 million subscribers are currently using its insurance product known as Recharge with Care, since the launch of the product in April 2018.

Its ‘Send with Care’ and ‘Recharge with Care’ which have been designed to cater for all MTN subscribers are underwritten by Metropolitan Life Insurance Ghana.

aYo Recharge with Care offers life and hospital insurance cover every time customers recharge their MTN airtime.

Customers can get up to ¢100 for each night they are admitted at the hospital to support hospital admission bills and up to ¢6,000 life cover for themselves and one family member who is registered on the policy.

How to sign on

For Recharge with Care, you sign up by dialling *296#, select option 1 and then follow the prompt. You can either sign up for MyLife or MyHospital or both and pay a premium of ¢4 valid for 30 days.

Subscribers use the same process for filing claims (*296#, select option 1, then option 7 and then follow the prompt) and valid claims are paid directly to the claimant’s mobile money wallet without any hassle.

MTN MoMo subscribers can send MoMo through aYo Send with Care by dialling *170#, select option 1 (transfer money) and then option 3 (Send with Care) on the mobile money menu to get up to ¢30,000 hospital and life insurance cover and up to ¢3,000 life cover for their family members (receiver of the MoMo).

Instructively, aYo intermediaries Ghana Limited is a subsidiary of aYo Holdings (Based in South Africa), a joint venture between MMI Holding and MTN Group, established to distribute insurance solutions to MTN subscribers in Ghana and Africa.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.


DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.