Telecommunication Company, Tigo has announced that it has paid over GHS6.2 million to policyholders its insurance programme since it was introduced in 2010.
The figure represents the 10,000th claim that the company has recorded.
According to Tigo, the 10,000th claimant is a 21-year-old Foster Quist Sarfo, a student of Central University College in Accra.
Tigo’s insurance is a unique product, designed specifically for the low and middle income segment to access life and hospitalisation insurance aimed at helping their families to manage unexpected events.
Averagely per month, Tigo Insurance pays over 300 claims through Tigo Cash, with valid claims going out within 72 hours after the submission of documents.
For as little as 10Gp a day, customers can earn life insurance and or hospitalisation insurance.
“We are delighted to have achieved this significant milestone in such a short time. This is a testament to our vision to deliver a digital lifestyle to our customers, and a critical component of our overall business transformation strategy,” said Tigo’s Director of Mobile, Tara Squire.
He explained that as a reputable telecom operator, the company will continue to deepen the penetration rate for micro-insurance in the country through the use of mobile phones.
Russell Haresign, the micro-insurance partners for Tigo Insurance, stated that the product has impacted the lives of many Ghanaians.
“We are incredibly proud to reach this milestone. Paying out claims is the most important part of our work and we cannot over emphasise the importance of customers coming forward to claim their benefits,” he said.
He was grateful to customers of Tigo for their loyalty and contribution to the growth of the Tigo Insurance brand.
“The partners remain committed to servicing the low-middle income segment by designing innovative products that will bring even greater value to the customer,” he said.
Tigo Insurance policies are underwritten by Prudential Life and distributed by BIMA, a leading provider of micro-insurance.