info@businessghana.com
CalBank PLC has launched a digital platform to serve as an insurance marketplace for customers to buy auto insurance through a shortcode.
Known as the BeINsured, it was developed in partnership with BlueSPACE Financial Cloud (BFC), an AI-powered financial platform and MTN MobileMoney Ltd.
The platform is accessible through the MTN MoMo shortcode *170# and allows customers to explore, purchase, and renew their vehicle insurance policies from the comfort of their homes or offices without using internet access.
Sanctioned by the regulator, the National Insurance Commission (NIC), BeINsured offers vehicle owners ready access to multiple insurance options, enabling them to compare policies, choose flexible payment plans and undertake seamless transactions.
The system removes paperwork, complex payment processes and long waiting times, making insurance more accessible, affordable and transparent for everyone, especially those in remote or underserved areas.
Insurance companies already listed on the platform include GLICO Insurance, Rudder Insurance Brokers, Donewell Insurance LTD, Hollard, Star Assurance and Enterprise Insurance.
The Head of Digital and Inclusive Banking at CalBank PLC, Martha Acquaye, said the platform was not just a new product but a redefinition of how insurance services should be delivered.
She underscored the critical need for solutions such as BeINsured, adding that many Ghanaians faced challenges when accessing insurance services.
“With the launch of BeINsured, we are bridging the gap that has long stood between Ghanaians and the ability to seamlessly sign up for insurance packages. Now, customers can purchase and manage their insurance policies conveniently from their homes and offices,” she added.
Ms Acquaye said the bank, as a strategic partner, was integrating its payment gateway, CalPay, to ensure secure and efficient transactions adding that, “The system has been designed with a compatible Application Programming Interface (API) to enable smooth payment processing”.
“While it can handle both card and mobile money payments, we are currently focusing on mobile money transactions for this phase of the insurance marketplace rollout,” she added.
Ms Acquaye encouraged all stakeholders banks, telecommunications companies, insurance firms, and other business sectors to collaborate in delivering better service experiences for customers.
The Chief Executive Officer (CEO) of BlueSPACE Financial Cloud, Samuel Amanor, stressed the need for embedding financial solutions to mobile money to bridge the gap between traditional banking and the needs of the informal sector.
“There are about 2.8 million to three million vehicles in Ghana, and nearly half belong to the informal sector — Uber drivers, trotro operators, and small transport businesses. They don’t have time to visit a bank branch or download multiple apps,” he explained.
Mr Amanor highlighted the role of brokers in expanding insurance access and reaffirmed the company’s commitment to supporting brokers by equipping them with digital tools that simplified policy distribution and enhanced customer engagement.
The CEO of BlueSPACE presented a blueprint for expansion into other areas within the transport logistics value chain, including cargo insurance, to further support businesses and drivers.
The Chief Products Officer, MTN MobileMoney, Sylvia Otuo-Acheampong, reaffirmed the company’s commitment to strengthening strategic partnerships that enhance financial services and improve customer experiences.
“We are excited about this collaboration, and we look forward to building even more connections that will boost confidence in Ghana’s financial ecosystem.”
She highlighted the company’s vision of leveraging mobile technology to enhance accessibility and affordability in the insurance sector and said that aligned with MTN’s broader vision of digital financial resilience and inclusion in the country.
