[Ghana] Hollard and GEA partner to launch Asomdwee insurance policy for MSMEs

Hollard Ghana (with subsidiaries Hollard Insurance and Hollard Life Assurance) has partnered with Ghana Enterprises Agency (GEA) to launch Asomdwee, a tailored insurance product for Micro, Small, Medium-sized Enterprises (MSMEs) in Ghana aimed at providing security for their business.

The comprehensive product which loosely translates as “peace of mind” covers property, public liability, and life insurance for growing businesses. Asomdwee offers three tailor-made insurance packs namely, bronze, silver and gold depending on the size and nature of business with premiums as low as GHC 360, GHC 910 and GHS 2,310 for coverage as high as GHS300,000.

Speaking at the launch ceremony at Hollard Ghana’s head office, the Group CEO Patience Akyianu described the partnership as an industry’ first that serves MSMEs exclusively. “In our quest to enable more people to create and secure a better future, we have partnered with Ghana Enterprises Agency to offer an off-the-shelf MSME insurance product that will protect business owners, employee’s welfare, and their business assets from unexpected
incidents. The beauty of Asomdwee is that regardless of the package the MSME opts for, they enjoy coverage for; permanent total disability, critical illness, death, burglary, public liability and fire & allied perils at flexible premiums”.

“Achieving a financially inclusive society requires a system that supports varying business sizes. We’re doing what we can towards this goal. Our collaboration with GEA is made to suit their unique risks. Through Asomdwee, business owners can bounce back to their feet”, she added On her part, the CEO of Ghana Enterprises Agency, Mrs. Kosi Yankey-Ayeh said the launch of Asomdwee is very timely and relevant as it emphasizes the importance of insurance and risk mitigation strategies.

“The world is changing and transforming at a rapid pace and COVID-19 has emerged to accelerate this transformation. The new dynamics necessitates the development of new strategies. Yes indeed, sustainable ones. Hence, partnering with an insurance institution such as Hollard will help in the development of the world-class MSMEs we aspire to see, those capable of standing on their ‘own’ two feet in times of any eventualities and throughout their
business cycles”.

“GEA and Hollard Insurance are stepping out to break down business sustainability with insurance products that allow all businesses irrespective of the size of your wallet, to save and invest in insurance products that will help them prepare for the future”. She added Asomdwee is a simple product crafted in an easy-to-understand language with a seamless claims process with no waiting period. It is currently available to all registered business owners in Ghana who are between the ages of 18 to 65 years.

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