Partnership gives Ghanaian mobile customers life insurance access
Ghanaians are now able to purchase life insurance policies using their mobile phones as a result of a partnership between Hollard Insurance Group and telecoms provider MTN.Customers on the MTN Network in Accura can now access mi-Life - which is being billed by the firms as the world's first mobile money life insurance service - through MTN Mobile Money.
The cost of purchasing an insurance policy is expected to come down as a result of the partnership and General Manager of Mobile Money in Ghana for MTN Bruno Akpaka explained customers who make use of the service will "be able to submit claims, queries and make their premium payments using their handset".
Head of Micro-Insurance at Hollard Jeremy Leach added that this is "one of the most exciting initiatives" the firm has been involved in and will "transform" the insurance industry in emerging markets.
Ghanaians account for 15 per cent of MTN's subscribers in the West and Central Africa region. Nigeria is the dominant market, home to 58 per cent of the subscriber base.