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