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Tier 2 Banks: Credit Linked Offering eliminates loan defaults for insured perils

Savings and Loans Companies are Tier 2 banks in Ghana. They specialize in lending to the SMEs across the country. MIC provides solutions to four of the largest lenders in this segment.

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As their loan book expanded, they were faced with a huge number of loan defaults due to the death, disability and hospitalization of borrowers. This in turn impacted heavily on their non-performing loan ratios.

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MIC employs its MiConnect Platform to administer the policy to ensure proper data administration and claims monitoring and payment.

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