Tigo Insurance has reached yet another milestone, paying out its 10,000th claim. With this claim, Tigo has paid over GHS 6.2 million to policyholders since the introduction of Tigo Insurance in 2010.
The 10, 000th claimant is 21-year-old Foster Quist Sarfo, a student of Central University College in Accra. Tigo’s insurance offering is unique, designed specifically for the low and middle income segment to get access to life and hospitalisation insurance that can help their families manage unexpected events.
Averagely per month, Tigo Insurance pays over 300 claims through Tigo Cash, with valid claims going out within 72 hours after the submission of documents. For as little as 10Gp a day, customers can earn life insurance and or hospitalisation insurance.
“We are delighted to have achieved this significant milestone in such a short time. This is a testament to our vision to deliver a digital lifestyle to our customers, and a critical component of our overall business transformation strategy,” said Tigo’s Director of Mobile, Tara Squire.
As a reputable telecom operator, he explained the company will continue to deepen the penetration rate for micro-insurance in the country through the use of mobile phones.
Russell Haresign, Country Manager for BIMA, the micro-insurance partners for Tigo Insurance, said: “We are incredibly proud to reach this milestone. Paying out claims is the most important part of our work and we cannot over emphasise the importance of customers coming forward to claim their benefits.”
He was grateful to customers for their loyalty and contribution to the growth of the Tigo Insurance brand. The partners remain committed to servicing the low-middle income segment by designing innovative new products that will bring even greater value to the customer.
Tigo Insurance policies are underwritten by Prudential Life and distributed by BIMA, leading provider of micro-insurance.