Tigo launches airtime-based insurance


Image: By BiztechAfrica
Tigo launches airtime-based insurance

Tigo Ghana has made its  Tigo Family Care Insurance product even more accessible by launching a shortcode that allows customers to self register for the product without the need for an agent. This means customers can now choose any of the 3 options to register.

With this new channel, potential Family Care Insurance customers can now register and get covered up to GHC 2,000 by dialing the short code *900# and following the prompts. They also have the options of either visiting any Tigo Customer Service Center or designated Tigo insurance agents to register. 

The Solutions Category Manager at Tigo Ghana, Abdul-Nasser Alidu noted that “The convenience of using the USSD short code is unmatched”.

He said there was a need for a product such as this in Ghana, since more than 95% of Ghanaian adults do not have access to insurance.

He indicated that by introducing the self-registration, Tigo hopes to reach the people that hitherto had no access to life insurance cover.

Since the telecom operator launched the Tigo Family Care Insurance, more than 500 subscribers have received claims from the product which was designed in partnership with Milvik (Bima) and underwritten by Vanguard Life Assurance.

The Tigo Family Care Insurance is a mobile insurance product that allows Tigo subscribers to register themselves and one close family relative for a life insurance cover. In the event of death of either the subscriber or the beneficiary, the surviving party will get a cover in the form of financial assistance.

The service has two parts: Free Model and the Xtra-Life. With the former, subscribers’ insurance cover depends on their airtime usage. For instance, every registered subscriber on the free model that uses GHC5 a month gets insurance cover of GHC 200 the following month. Subscribers can double this amount to GHC 400 and get up to GHC 2,000 if they register for the Xtra-Life and pay only GHC 1 per month.   

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