Insurance distribution via mobile telecom companies has been the single largest contributor to deepening insurance penetration in Ghana. MIC Global is a pioneer and continues to be at the forefront in this space. This model which allows mobile phone subscribers to use call minutes to purchase insurance via the mobile telecom companies.
MIC Global pioneered the 1st mobile–delivered insurance Technical Service Provider.
Tigo Family Care Insurance through Tigo (2010-2012) – 1 Million lives on Insurance through Mobile phone.
Airtel Insurance through Airtel (2013-2016) – 1. 2 Million lives on Free Insurance. 325K paying per month.
Vodafone Insurance (2020-present)
Vodafone Ghana is a leader in telecommunications solutions in Ghana and a subsidiary of Vodacom Group. They offer voice, data and mobile financial services to their over 9 million customers. Vodafone has a global customer base of over 220 million subscribers spread across 4 continents.
Vodafone Ghana was looking for an innovative solution to monetize their customer base while bringing value to them as well.
An innovative bundled insurance cover providing customers with varied covers to ensure Vodafone is a one stop shop to their base for insurance.
Free to paid model where MIC proposed free insurance to on-board to first users of insurance. Enrolment methods include the use of Digital and Call Centre channels to upsell paid for insurance. Premiums are deducted from airtime and mobile wallets.
Over 69,000 customers signed onto the free version with significant numbers using self-sign up option since November 2020.
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