MTN Mobile Money(MoMo) Limited, a subsidiary of MTN Ghana, on Tuesday launched an insurance scheme in partnership with Enterprise Life Insurance and GGMB Brokers for Mobile Money (MoMo) vendors.

Any of the about 190,000 vendors would be given GHS 500 as support under the scheme to help defray hospital bills.

Mr Eli Hini, General Manager for Mobile Money Limited, scheme would serve as an intervention for vendors in the event of death, robbery attack, disability, critical ailment, hospitalisation to support them in times of such unfortunate situations and to run a successful business.

He advised the general public to keep to ethical MoMo practices such as not giving one’s PIN to a third person, to avoid calls demanding their personal details and call 0244300000 to report suspected fraudsters or verify calls before taking any step.

Madam Jacqueline Benyi, Managing Director of Enterprise Life Insurance, said the agents were the lifeline to the business and it was a vital role for all stakeholders involved to ensure their safety.

“The agents are the lifeline to our business and thus it is our priority as a business to ensure their safety, comfort and longevity,” she said.

She said the insurance cover provided by the service provider was a 24/7 hour cover and not limited to their working environment.

Madam Benyi said the financial burden on mobile money agents as well as taking care of life uncertainties had been transferred to the insurance company.

She said the insurance covered persons who got involved in accidents, hospitalization, and treatment of critical illness like cancer, heart attack, stroke and disabilities.

She added that the aim was to ensure financial wellbeing of agents and assured them of reliable service.

She appreciated the gesture of MTN to provide real lifetime value to all agents across the country.

Madam Ama Bawuah, GGMB partner, Brokers for the scheme, said it would serve as an intermediary between MTN Mobile Money Limited, Mobile Money agents and Enterprise Life Insurance.

“If there should be a claim on the cover, GGMB will be the first point of contact to address their challenges,” she said.

She said GGMB would ensure that the process would be as seamless as possible and that agents will be supported.

She said the initiative would ensure that agents went about their business with peace of mind knowing that they were covered.

Madam Bawuah assured agents that they would receive top notch services from the insurance company and would facilitate effective communication amongst all parties.

She added that frequent workshop would be organised by GGMB in partnership with Enterprise Life Insurance to educate agents on processes involved in claims reporting and administration.

Mr Eliah Asem, Secretary of Mobile Money Advocacy Group Ghana (MOMAG), expressed their appreciation to MTN Mobile Money Limited for their thoughtful initiative and promised that members would do their best to make MoMo business a great one.