aYo Intermediaries Ghana Limited, a leading microinsurance company has increased its maximum premium from GH¢4 to GH¢6 to give more to its existing and potential customers.

The move is to enhance customer experience.

Announcing this change, which took effect in August 2021, the Chief Executive Officer (CEO) of aYo Ghana, Francis Gota, said: “We also want to give the customer, the flexibility to choose the maximum they want to be deducted from their airtime each month”.

The new changes would enable existing and new Recharge with Care customers, low to middle-income earners and MTN subscribers between the age of 18 and 65years to accumulate benefits up to a maximum of GH¢6,000.00 for life and GH¢120.00 for hospital cover each month.

Additionally, existing and potential customers would receive more coverage and make insurance accessible and affordable to every Ghanaian.

Mr Gota added that new customers would have the ability to choose the maximum premium when setting up an autoboost feature, while customers would choose from either GH¢4.00 or GH¢6.00.

“Existing customers will have the ability to set up their maximum from the aYo USSD menu. The current maximum sum assured on MyHospital to be increased from GHC100.00 to GHC120.00”, he said.

The outbreak of the COVID pandemic has amplified the importance of the micro insurance sector’s role in the economic resilience of low-income households. For customers of aYo this past year has been one of their best years in spite of the uncertainties.

Through tailor measured policies, aYo has become a most reliable partner to many households offering relevant, accessible, and easy-to-use insurance solutions that give absolute peace of mind to Ghanaians and their financial wellbeing.

In line with the aYo’s promise to guarantee the safety of its customers in case of any eventualities, a total of GH¢2,421,787 claims have been paid to more than 8,000 people since the outbreak of the Covid-19 pandemic. In 2021 alone, 8,405 customers received a total of over GH¢2.5million funeral and hospital cash benefits.

Since its inception, aYo Ghana has leveraged the wheels of technology: through the use of mobile phones and tailor-made insurance products to penetrate the insurance market which has persistently had a low penetration rate to make insurance accessible to all classes of people, including low-income earners, underserved communities, among others in Ghana. Over six million MTN subscribers are now covered by aYo.

With its two main products, namely, Recharge with Care and Send with Care, aYo Ghana provides hospital and life insurance cover to MTN customers who sign up for any of these insurance policies.

How to sign on and file a Claim

To sign up to the Recharge with Care, dial *296#, select option 1 and then follow the prompt. Customers can either sign up for MyLife or MyHospital or both or pay a premium of GH¢6.00 valid for 30 days.

To file claims, dial *296#, select option 1, and from the drop list option 7, followed by the prompt. Subscribers with valid claims will be paid directly to the claimant’s mobile money wallet.

MTN MoMo subscribers can send MoMo through aYo Send with Care by dialing *170#, select option 1 (transfer money) and then option 3 (Send with Care) on the mobile money menu to get up to GH¢30,000.00 hospital and life insurance cover and up to GH¢3000.00 life cover for their family members (receiver of the Momo).

Instructively, aYo intermediaries Ghana Limited is a registered microinsurance company incorporated under the companies’ code of Ghana and 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, our operations are regulated by the National Insurance Commission of Ghana, and underwritten by the Metropolitan Life Insurance Ghana.

aYo offers hospitalisation and life insurance coversto customers through its two insurance products- ‘Send with Care’ and ‘Recharge with Care’. The Recharge with Care and ‘Send with Care’ offer life and hospital insurance cover every time customers recharge their MTN airtime.

Customers can get up to GH¢120.00 for each night they are admitted at the hospital to support hospital admission bills and up to GH¢6,000 life cover for themselves and one family member who is registered on the policy.