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From left to right: Joyce Asante; Korba’s Head of Retail Strategy, Tetteh Ayitevie; Prudential Life Chief Strategy Officer Nelson Da-Seglah; Korba and Frances Ofori Habilitation Director; Head of Marketing and Communications at Prudential Life
Korba has partnered with Prudential Life Insurance Ghana (“Prudential”), a leading life insurer, to provide life insurance coverage, at no additional cost, to its active customers through its’ Korba customer loyalty and rewards program Care ‘.
The life insurance coverage will provide financial support to Korba customers through two policy benefits: the Hospital Cash Plan (HCP) and the Total Permanent Disability or Death Plan (TPD).
The HCP is a living benefit that provides financial support to the insured at the time of hospitalization. The Death Benefit or TPD goes into effect in the unfortunate event that an insured life dies or is invalidated.
Claims will be paid according to the level of transactional activity in Korba to clients or their designated beneficiaries with an insured sum of up to GHS 10,000 per TPD or Death, and daily cash payments of ¢ 100 for up to 30 days of hospitalization.
Speaking about this partnership, Korba’s Director of Enablement Nelson Korshi Da-Seglah said: “We are excited about this innovative partnership with Prudential and in particular the value-added financial support that we can extend to current and future customers. ”
He added: “Working closely with Prudential Life, we have also ensured that the policy responds effectively to the current realities of COVID-19. At Korba we understand that “we are” thanks to our customers.
“As such, we are rewarding them with free coverage while they ‘live their life’ by running their normal airtime and data top-ups, fund transfers and bill payment transactions on Korba.”
Joyce Sarpongmaa Asante, Director of Retail Strategy, explained that, “In addition to the benefits of HCP and TPD / Death, customers are also entitled to complimentary COVID-19 coverage.
This includes a diagnostic benefit that pays a lump sum once an official COVID-19 diagnosis is received; a hospitalization benefit that provides the client daily cash payments up to 30 days and a death benefit that pays a lump sum to the client’s beneficiaries as a result of a COVID-19 death.
Matt Lilley, Prudential Africa CEO, said: “Today’s agreement with Korba is another important milestone for our business in Ghana and we are excited about its potential.
“It will add to the growth already achieved and bring us closer to our goal of becoming the leading life insurer in Africa. We look forward to working with Korba to help our clients make the most of life. ”
Emmanuel Aryee, CEO of Prudential Life Ghana, said: “At Prudential we are passionate about helping people make the most of life. We share similar goals with Korba, which is to use innovation to generate value for our mutual customers that will simplify their lives.
“In this case, it is to reduce the risk of future uncertainties in their lives and to help them look to the future with confidence. This partnership presents a great opportunity to serve a market that is often overlooked by traditional insurance channels, thus helping to bring the benefits of life insurance to more Ghanaians. ”
