Unique Insurance Company limited in collaboration with Trust Re of Bahrain have launched the first online travel insurance policy in Ghana called Unique Travel Policy.
Managing Director for Unique Insurance Company Limited, Mr. Victor Obeng–Adiyiah speaking during the launch said “it is time for insurers to get creative and we at Unique Insurance want to set the pace by offering a truly value-laden, responsive, first of its kind travel insurance product in the market”.
He therefore recommended the Unique Travel Policy to the Aviation Ministry to look at measures and incentives to promote the purchase of travel insurance for every Ghanaian travelling abroad in order to reduce the incidence of distress calls and unbudgeted cost to Ghanaian travelers and their families, and also ensure the welfare and safety of Ghanaians when they are off the shores of Ghana.
He added that Insurance companies competing merely on price has made most companies worse off and has not inured to the benefit of policyholders, inadequate premiums affect the speed with which claims can be settled.
Mr Obeng Adiyiah commended Ghanaian workers especially Ghana Mineworkers Union, who are majority shareholders, Trade Union Congress (TUC), Public Services Workers Union, Ghana National Association of Teachers, Health Services Workers Union and various worker groups for making Unique Insurance a majority wholly owned Ghanaian Insurance company.
The Minister for Aviation, Hon. Cecilia Abena Dapaah speaking at the event urged Ghanaians to patronize Unique Travel Policy due to its flexibility and huge benefits.
She stated that the Aviation Ministry set forth key priority areas and initiated inventions which impacted significantly on the air transport in the past year therefore for Unique Insurance to introduce this online travel policy to Ghanaians is commendable.
Talking about the flexibility of the policy, she stated that “the product we are launching today can simply be purchased at every travel agency, at the same time that the traveler purchases his or her ticket”.
She said being online and cloud based 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.
She added that the policy has high benefit levels which comply with the requirements of Schengen States and other countries and regions which is certainly a commendable development within the aviation and insurance industries in Ghana.
The Commissioner of Insurance, Mr Justice Y. Ofori also revealed that Trust Re, the lead reinsurer of the Unique Travel Policy has paid up capital of US$ 250 million and that gives comfort to the National Insurance Commission that purchasers of the Unique Travel Policy can be compensated adequately and quickly when insured events occur.