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Bayport Sales Manager Sam Donkor (left) with Star Insurance Bancbadurance Manager Reverend Bridgette Opoku-Sarkodie unveiling the policy at the launch
Bayport Savings and Loans Ltd., in conjunction with Star Insurance, has launched an auto insurance policy that will allow its customers to pay their premiums on a monthly basis.
Nicknamed "Bayport Motor Insurance", this policy offers business customers options such as third-party insurance policies, third-party fires, theft and full insurance.
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Maame Sarpong, director of insurance at Bayport, at the launch on Friday, February 1, this year in Accra, said the decision to introduce the monthly payment of premiums was aimed at reducing pressure from customers to pay premiums insurance from the start. they can not afford it.
Bayport Insurance Manager, Ms. Maame Sarpong
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According to her, the flexibility of the policy will offer customers the opportunity to regularly pay their premiums, thus ensuring the safety of engines and pbadengers at all times.
"Bayport and Star Insurance have officially met all the requirements and have received approval from the Bank of Ghana and the National Insurance Commission to negotiate the Bayport Motor Insurance Exchange," said Ms. Sarpong.
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She explained that unlike other insurance companies, Bayport and Star Assurance have put in place thoughtful measures to ensure that claims are settled on time.
"Bayport is thrilled with its new car insurance because it is convenient and above all very affordable," she said.
For her part, Reverend Bridgette Opoku-Sarkodie, head of bancbadurance at Star Assurance, said the policy would allow both companies to expand their base.
According to her, the two companies will combine their expertise to offer their clients an excellent customer-oriented insurance service.
Reverend Opoku-Sarkodie said the company was working in partnership with Bayport because of their good track record in the financial sector, stating that "the company has moved from more than one billion Ghanaian Cedis to more than 400,000 workers. and Ghanaian businesses helping them achieve their financial goals and life aspirations. "
She added that although their partnership involves the auto insurance industry, both companies will introduce more insurance policies over time.
"This collaboration will be a good marriage," she said.
Sam Donkor, commercial director of Bayport, said that with the collaboration between the company and Star Insurance, "global insurance has been demystified in Ghana," noting that "with Bayport's auto insurance , overall insurance will no longer be the preserve of the rich. "
He urged the general public, especially customers of both companies, to adopt this policy because it offers better conditions than those existing in the country.
Mr. Kofi Andoh, NIC Representative, stated that the NIC is taking steps to provide policyholders with the opportunity to purchase insurance, pay their premiums, receive claims, and obtain redress for their grievances.
He said NIC worked with relevant stakeholders to create appropriate digital platforms that would allow insurance companies to take advantage of the ongoing digital revolution in the financial services sector.
Mr Andoh said that "currently, the network card is working on an electronic database on auto insurance to stem the tide of false auto insurance."
He explained that the NIC was planning to put in place an electronic claims and claims management system to speed up and monitor the management and payment of clams, while facilitating the task of the police. insurance to obtain redress for their claims.
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