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Unique Insurance launches air travel insurance product

The Managing Director of Unique Insurance Company Limited (UIC), Victor Obeng-Adiyiah, has called on the Aviation Ministry to encourage Ghanaians to sign up for travel insurance, especially those who travel overseas.

Mr. Obeng-Adiyiah said the Minister of Aviation, Cecilia Dapaah, must “look at measures and incentives to promote the purchase of travel insurance for every Ghanaian travelling abroad”.

He said “This will reduce the incidence of distress calls and unbudgeted costs to Ghanaian travelers and their families, and also ensure the welfare and safety of Ghanaians when they are off the shores of the motherland.”

He made the remarks at the launch of the company’s new insurance product, the ‘Unique Travel Policy’.

The product, which is the first real-time online insurance product for travelers in Ghana, covers the main aspects of travel prone to unfortunate incidents and travel mishaps.

Despite the growing uptake of insurance policies in Ghana, it has been observed that travel insurance remains one of the least patronized.

In the view of Mr. Obeng Adiyiah, the Aviation Ministry, through deliberate policy directives can help address the problem.

The insurance travel policy product was launched in partnership with Trust Re of Bahrain, which will serve as the international re-insurance partner.

In attendance were dignitaries such as the Minister of Aviation, Cecilia Dapaah; her deputy, Kobby Okyere Darko Mensah, and the Commissioner of Insurance, Justice Yaw Ofori.

The Managing Director in charge of Operations at UIC, Bernard Ohemeng-Baah, said “there are several travel insurance options on the market. What we are launching is an online travel policy. It’s the first in the Ghanaian market. It’s supposed to make the acquisition and the benefit of re-insurance real-time. … If I buy today on the portal, Unique Insurance in Ghana sees it. … We know at Unique Insurance that you’ve brought a policy and that you’re entitled to benefit. All our assisting partners… wherever you are going in the world, in real-time, they know that Mr. A or Madam B has bought a policy and is entitled to these benefits, so that if you have any problem, you call and get your benefits.”

The Minister of Aviation, Cecilia Dapaah, in her keynote address, encouraged Ghanaians to patronize travel insurance saying, “Being online and cloud-based, it also allows real-time transmission of the details of every purchaser to the international travel assistance partners. Therefore, a Ghanaian traveler is guaranteed prompt assistance on insured events outside of Ghana with Unique Insurance on the Unique Travel Policy. … This is certainly a commendable development within the aviation and insurance industry in Ghana, and I encourage all present to patronize the product.”

Describing the collaboration between UIC and Trust Re as “very welcome and commendable”, the Commissioner of the National Insurance Commission, Justice Yaw Ofori also lauded the initiative.

 

“Fostering innovation within the industry for the benefit of policyholders is key on the Commission’s agenda. It is in this light that the launch of an online international travel insurance product, which is simple to purchase and also eases the process of accessing benefits, comes as an exciting development.”

“The fact that Trust Re, the lead re-insurer of the Unique Travel Policy, has paid-up capital of US$250 million is an important signal. This gives comfort to the National Insurance Commission that purchasers of the Unique Travel Policy can be compensated adequately, and quickly when insured events occur” Mr. Ofori said.

By: Akosua Ofewaa Opoku/citifmonline.com/Ghana