Ghana’s leading mobile micro-insurance company, aYo Intermediaries Ghana Ltd, has launched a new motor insurance product for the country’s transport sector.
The product called aYo Pay and Drive Motor Insurance Policy is being done in partnership with Sanlam General Insurance Ltd and Mobile Money Limited to enable drivers to insure their vehicles as and when they want to.
With this service, drivers are at liberty to pay for insurance based on their individual needs and preferences using their mobile phones.
“With the pay-as-you-go approach, drivers have full control over their insurance payments, making insurance more affordable and convenient,” said a release on Friday.
Speaking at the launch, Francis Gota, Chief Executive Officer (CEO) of aYo Intermediaries Ghana Ltd, explained how the product is going to revolutionize the insurance industry through its convenience, accessibility, and flexibility.
“Today marks a significant milestone for us at aYo after seven years of redefining insurance in Ghana. We are proud to bring to Ghanaians a groundbreaking auto policy called ‘Pay and Drive,” Gota said.
The CEO said the partnership under which the product works symbolizes unity and a shared commitment to deliver unparalleled value to customers. “Customers are the bedrock of our business, and their support has been both motivating and instrumental in driving our passion for innovation.”
Mabel Nana Ama Nyarkoa Porbley, CEO of Sanlam General Insurance Ltd, added that the digital nature of the product would help reduce the company’s environmental footprint, urging drivers to sign on to it.
Chief Superintendent Alexander Kweku Obeng of the Motor Traffic and Transport Department (MTTD) of the Ghana Police Service, lauded aYo and its partners for introducing such an innovative product to assist citizens in complying with the mandatory insurance requirements in Ghana.
aYo Pay and Drive Insurance policy is crafted to meet the needs of the customers like car owners and cab drivers who cannot purchase yearly insurance cover. Valid Pay & Drive claims are paid directly to the claimant’s mobile money wallet or preferred payment platform.
The insurance policy can be purchased weekly, monthly, quarterly, or yearly offering more flexibility to meet the evolving needs of vehicle owners. The premium is calculated based on the selected number of days; a minimum of seven days is required.
The company said it is committed to revolutionizing the insurance landscape in Ghana after raking in over 8.2 million individual policyholders over the past seven years.
The company boasts of a subscriber base of over 10 million Ghanaians. So far, the company has paid out over 18 million Ghana cedis claims to over 45,000 policyholders and beneficiaries, out of which GH¢4.5 million was paid out last year.
Customers can register for aYo Pay and Drive at http://app.ayoghana.com/ to sign up. Alternatively, customers can WhatsApp 0596918235 for assistance.