‘Insurance penetration rate in Ghana less than 2%’ — CEO of Ayo Ghana

Business & Finance Francis Gota, CEO of Ayo Intermediaries Ghana Limited
FEB 22, 2024 LISTEN
Francis Gota, CEO of Ayo Intermediaries Ghana Limited

Francis Gota, CEO of insurance intermediary aYo Ghana, hopes a new flexible and digital auto insurance policy will help increase Ghana's low insurance penetration rate.

In a speech launching the aYo Pay & Drive policy in partnership with Sanlam Insurance Ghana, Gota noted that "the insurance penetration rate in Ghana is less than 2%."

He said, "the insurance penetration rate will rise with appropriate investments in innovation and technology that provide consumers with comfortable and enjoyable experiences."

He noted that the new policy is aimed squarely at this goal of boosting insurance uptake through innovative features tailored for Ghanaian consumers.

Gota explained that ‘aYo Pay & Drive’ "has been meticulously crafted with the needs of our customers in mind, especially those who own multiple cars but drive them occasionally, uber and taxi drivers who make weekly sales, private car owners who cannot afford upfront yearly cover, and those of us who only realise our motor insurance has expired when the police stop us."

Customers will appreciate the "flexibility to purchase insurance for a weekly, monthly, or a year, tailored to the specific vehicle they wish to drive at any given time," said Gota.

“This flexibility not only provides unprecedented convenience but also ensures that customers get covered exactly when they need it."

Through its digital-first approach and easy mobile payment options, aYo Pay & Drive aims to empower customers and "bring insurance into the palm of our customers' hands" for the modern fast-paced world.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished