NIC endorses Prudential Life Insurance’s Mekakrawa insurance policy

The National Insurance Commission (NIC) has backed the Mekakrawa insurance policy, which was recently launched by Prudential Life Insurance Ghana for Ghanaians in the informal sector.

Ashanti Regional Manager of the NIC, Farouk Dramani, described the insurance policy as a game-changer and urged the public to be part of it.

Mr. Dramani was speaking at the launch of Prudential Life Insurance’s latest micro-insurance product, known as Mekakrawa, on Tuesday, May 30, 2023.

The big launch was held at the New Kejetia Market in Kumasi, and was well attended by some celebrities and members of the public.

“This [Mekakrawa] is a policy coming to help every individual. We must at all costs be part of this insurance programme to help secure our future. Further, I would applaud Prudential Insurance for keeping up with a good job for so long,” the NIC manager said.

“In Ghana, we have 45 insurance companies today and, as of 2020, Prudential Life was number four. As of 2021, Prudential Life has risen from number four to number three. I think they deserve a very big round of applause.”

Mekakrawa covers death, accidental death, critical illness and total permanent disability, and is especially targeted at Ghanaians in the informal sector.

These include the unbanked, petty traders, students, vendors, wholesalers, retailers and middle to low-income earners.

Mr. Dramani commended Prudential Life Insurance for their loyalty to customers over the years and urged the company to continue to tap into the large numbers in the informal sector.

“The Kejetia Market is big, we have about 50,000 individuals here, so that tells you that you have a huge market to tap into.

“Launching this product here today, I believe it is the best decision. So your staff will have to align and make good use of the numbers you have here.

“I have been in Kumasi for almost 10 months and I have not seen a single complaint from the public to the National Insurance Commission that Prudential Life have not treated them well. That should tell you that Prudential Life is doing well and the Commission is very happy with that, and we support them in whatever they’re doing,” he added.

Meanwhile, Mekakrawa is designed to be easily adaptable and accessible to all manner of people, regardless of their mobile device type and irrespective of where one is located.

Subscribers of partnering telcos can activate the product via USSD and MTN mobile money. One can subscribe to the product by dialing *778# on MTN to register. Monthly premiums include GHS3.0, GHS4.5, GHS9.0, GHS 22.5, GHS 27.0, GHS 36.0 and GHS 45.0.

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