Access Bank has in collaboration with Coronation Insurance launched an innovative product called Business Protection Insurance for Business Success which translates ‘W’adwuma Bambo Nti’ at the National Theater in Accra.
The launch was attended by various stakeholders including representatives of Traders Advocacy Group Ghana (TAGG) and heads of Access Bank and Coronation Insurance.
Following the wave in fire outbreaks, flood disasters and burglary, Access bank, a leading force in the banking sector have partnered with Coronation Insurance to launch this comprehensive financial protection for its cherished customers across the country.
The product is primarily designed for Small and Medium-sized Enterprises (SMEs) to safeguard their businesses in case of any eventuality that may affect the business or owner of the business. Being enrolled on the insurance package is a precautionary measure against unforeseen circumstances.
President of the Traders Advocacy Group Ghana (TAGG), David Kwadwo Amoateng, speaking at the event urged bankers to make loans with considerable interest accessible to traders, especially in this festive season when most of them will need funds to stock up their various wares.
“This insurance package has come at a very good time. We are not asking for the unfortunate to happen, but when it does, Traders will now have the reliable support of an insurance company they can trust’’. He added
Head of Sales & Distribution at Coronation Insurance Ghana Limited, Mr. Seth Sorgah said “The product is Business Protection Insurance. It is made for small and medium enterprises. Most of these enterprises don’t have access to insurance, therefore we are bringing insurance to their doorstep at a reduced price.
“We have bundled about 4 different products at reduced prices. When you buy the product, you are buying different products at the same cost”.
Breaking down the product, he added,” We have up to GHS 10,000 as the maximum amount you can take for the whole year and you benefit GHS 150,000 in terms of your assets or inventory.
On the accessibility of the product to people, Matilda Asante-Asiedu, Group Head, Retail Banking at Access Bank said, “We know that trading activities and small businesses operate around the country and we have made it easy to digitally access the product through Mobile Money. Because we are partnering with the trade associations, we can reach all their members. We are not everywhere physically but through digitization, we can have transactions anywhere in Ghana and beyond”.