Indigenous bank, Cal Bank has entered into a partnership with Saham Insurance to unveil a new product targeted at customers of the bank and particularly the medium enterprises sector.

The new Banc assurance has been made available to customers on the bank’s digital platforms.

The newly unveiled partnership by Cal Bank and Saham Insurance will serve as a vehicle for the improvement of insurance penetration in the country.

This is due to the role the bank will be playing in getting its customers to buy an insurance product from Saham.

Speaking to Joy Business after the launch of the product in Accra, Managing Director of Cal Bank, Philip Owiredu explained the category of customers to be insured under the policy.

“This product is made available to all our customers, but particularly, home owners, car owners and the Small and Medium Enterprises, due to the kind of operations they are involved in” he said.

Meanwhile, Managing Director of Saham Insurance, Mabel Nyarko Pobley has assured customers of of enhanced offerings and customer-centric services under the new partnership.

In a statement to endorse the partnership, Commissioner of Insurance, Justice Ofori called on the two entities to ensure diligent work to win the hearts of customers into the sector.

The contribution of the banc assurance sub sector is increasingly growing and having a significant impact on the insurance industry.