Prudential Life Insurance Ghana has teamed with Enterprise Life Insurance Ghana to be co-underwriters for SafeNet, an innovative new mobile insurance product.

Vodafone, Ghana’s second largest mobile network operator is using a platform developed by MicroEnsure, a part of the Micro Insurance Company to distribute SafeNet to Vodafone subscribers in Ghana.

The product is designed to offer new customers several key insurance benefits that include cover for hospital cash compensation, cover for accidental injuries or disabilities and general life insurance cover.

SafeNet offers a simple and easy process to purchase and acquire flexible insurance. Customers will be able to pay as little as GH¢0.50 in premium to be a SafeNet policyholder.

Matt Lilley, CEO of Prudential Africa, said “This initiative is another example of Prudential Africa working with best of breed partners to deliver health & protection products through a digital ecosystem enabling us to reach millions of new customers. With more digital offerings we are able to tailor our products to meet the ever-changing needs of the digital savvy consumer. ”

Emmanuel Mokobi Aryee, CEO of Prudential Life Ghana said “We are excited about our first quadripartite agreement with industry giants to provide Ghanaians with access to a simple and affordable life insurance product – SafeNet.”

“This milestone for all partners consolidates our financial inclusion proposition and marks another innovation in the Ghanaian telecom and insurance industries. At Prudential, we live for every opportunity to bring the benefits of life insurance to Ghanaians and to help them to get the most out of life, regardless of life’s uncertainties,” he said.

Vera Lynnette Adomako-Nyantakyi, Chief Commercial Officer at Prudential Life said “Partnerships play a key role in Prudential’s strategy to seize opportunities, especially the micro and mobile insurance markets, to increase insurance uptake in Ghana. By way of an innovative product that provides convenience, a strong distribution network and the ability to honour claims on time, this partnership provides a solid foundation to meet the growing needs of customers to build better lives.”