The partnership would see the insurance company introduce the aYo send with care, a product which allows MTN mobile money subscribers to add insurance cover to the money they send home via MTN Mobile Money.
Speaking at the launch, Francis Gota, Country Lead for Ayo, said the product seeks to provide customers loved ones with back home with money for a full year, should they not be able to.
“If you currently send money to your family through your MTN Mobile Money account for their upkeep, ayo will triple the amounts that you have sent over the last four months, and use that as cover to pay out to those you take care of should anything happen to you’’, he said.
For example, Gota explained that if you send GH¢200 per month for 12 months, the life cover will be paid out in the unfortunate event that you pass away, and the hospital cover will be paid out if you have to spend one night or more in hospital due to an accident”.
He added that anyone with an MTN Mobile Money account can send with Care. All you have to do is dial *170//, select transfer money and choose to send your money with care.
Gota pointed out that aYo send with care is here to demystify insurance, make it affordable and serve by providing instant cover and rapid pay-outs on a digital platform.
For his part, Mr. Eli Hini, General Manager for MTN Mobile Financial Services, stated that the partnership with ayo further consolidates their financial inclusion proposition and also marks another innovation. ‘’With this partnership, MTN is adding another insurance service to the many other services you can enjoy as an MTN customer’’, he said adding ‘’today, MTN is taking mobile insurance to another level with the launch of ‘’send with care” which is the result of our partnership with aYo and Metropolitan Life Insurance’’.
According to Hini, the partnership confirms MTN’s commitment to the roll out of innovataive products and services and falls in line with our vision statement; leading the delivery of a bold new digital world to our customers.
“MTN Mobile Money has played a pivotal role in increasing access to financial services. From simply being a mobile phone service that facilitated financial remittances, MTN Mobile Money has evolved into an accepted mainstream method for transactions including payment for goods, services and utilities. The types of transactions enabled by Mobile Money have expanded to include deposits, investments and bulk payments’’, he added.
Mr. Imran Mahomed, Chief Executive Officer at aYo Holdings added that they are very excited and privileged to be able to partner with MTN on their initial offering in Ghana, a first of its kind in the country, toward making insurance more accessible and easy to use.
By Mark Boye