Cal Bank has partnered with Saham Insurance to unveil a new product targeted at customers of the bank and particularly the medium enterprises’ sector.
The new partnership by Cal Bank and Saham which has been made available to customers on the bank’s digital platforms will improve insurance penetration in the country.
This is due to the role the bank will be playing in getting its customers to buy an insurance product from Saham.
At the launch of the product in Accra, the Managing Director of Cal Bank, Philip Owiredu explained the category of customers to be insured under the policy.
Saying the product is made available to all their customers, but particularly, car and homeowners including Small and Medium Enterprises, due to the kind of operations they are involved in.
He noted that buoyant insurance industry is critical to the growth of the Ghanaian economy especially in this time of COVID- 19 pandemic and that Cal Bank is demonstrating its readiness to partner with insurers to support its relevance for national development.
Managing Director of Saham Insurance, Mabel Nyarko Pobley explaining the need for everyone to have an insurance policy, she said the partnership is necessary because it will increase insurance penetration in the country. She also assured customers of enhanced offerings and customer-centric services under the new partnership.
The Commissioner of National Insurance Commission, Mr Justice Yaw Ofori on his part said the contributions of the bancassurance sub-sector is increasingly growing and having a significant impact on the insurance industry and remains an attractive business arrangement as it enables both the insurers and banks leverage.