Vodafone Cash and StarLife Assurance have collaborated to launch what has been described as an industry-first insurance policy to strengthen their loyalty offering for their customers.
It will among other things help increase customer acquisition and provide a superior experience to their clients across the country.
Dubbed: Travel Companion, the renewable term policy is designed to provide a defined financial benefit for Vodafone Cash customers who sustain injuries leading to hospitalisation, permanent disability or death related to an accident through train, car or Volta River Authority (VRA) ferry.
In an interview with the media shortly after the launch in Accra last Wednesday, the Head of Vodafone Cash, Mr Martinson Obeng-Adjei, said “this partnership came about as a result of staggering statistics on road accidents from the Motor Transport and Traffic Directorate and the Ghana Road Safety Commission”.
He said between January and July for instance, many lost their lives as a result of car accidents, leaving others with injuries. He added that hospital bills sometimes became a burden on their finances and families.
He said insurance was there to take care of unanticipated situations, therefore, “we at Vodafone decided to partner StarLife to come up with a travel policy for our customers”.
He urged Ghanaians to buy the travel insurance policy because “in this festive season, there are millions of people who are going to travel and we hope not but definitely there might be one or two accidents and you can call on StarLife and your claims will be paid to you”.
The duration of the policy is dependent on the option chosen at the time of registration; daily which is 24 hours from the time of purchase, weekly or monthly and policy holders should be between the ages of 18 and 60 at the time of subscribing.
The policy covers accidental death as a result of a train, car or VRA ferry; and accidental hospitalisation benefit with a daily defined financial benefit to the policy holder if a bodily injury caused by a car, train or VRA ferry results in the policy holder’s hospitalisation.
The Group Head of Distribution at StarLife, Mr Alex Twumasi, said “after a good research on the market, we scanned the market and realised that clients, especially those in the informal sector really needed a travel insurance”.
“This has never happened because most of the covers out there go basically for a niche market but we are coming for the mass market; the ordinary mate or seller can easily patronise this policy using the Vodafone Cash platform,” he noted.