The aYo Family Cover, an affordable and inclusive micro insurance product, has recorded more than 10,000 customers in less than a month since it was launched, CEO of aYo Ghana, Francis Gota, has said.
He disclosed this to the media at the second launch of the aYo Family Cover product at Kasoa New Market in the Central Region.
Mr Gota said the company had chosen to launch the product in the selected markets because it was designed as an inclusive product with affordability as its main cornerstone to ensure that even very low-income earners would be able to buy, use and benefit from insurance.
He, therefore, urged market women, street hawkers and other petty traders present at the launch to put themselves into groups of seven, or even as individuals and buy aYo Family Cover or any of aYo’s highly affordable products and secure their future against the inevitable.
Head of Micro insurance at Sanlam Insurance (underwriters for aYo), Ken Owusu Nantwi, noted that because of aYo’s innovative and affordable insurance products, “now insurance is no more for just the rich but for the poor as well”.
According to him, people often wept over their dead relatives because of the cost of funerals, but now aYo has created the platform for everyone to get help in such times, adding that formerly insurance covered only one person but now aYo had included the family as well.
The guest speaker, Nana Kwesi Gyan Apenteng, noted that with affordable insurance packages like aYo Family Cover, the days when families looked up to a few well-to-do relatives to foot funeral bills were going away because now even low-income earners in the family could also bring some money to help meet funeral expenses.
“Up till date, older men like myself continue to foot funeral bills for families – but you have the opportunity to change that in the generation by patronising affordable insurance products like aYo Family Cover so that when you have a funeral in your family you can also contribute your quota,” he told the traders at the event.