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Zeepay, a fast-growing fintech and a Challenger Electronic Money issuer (Mobile Money Company), has announced a new partnership with Enterprise Life to provide Beneficiary Insurance to remittance senders from the diaspora known as Zeemicro.

People in diaspora can now purchase insurance cover for their beneficiaries when sending money home and the policy is issued instantly. The service will be available to senders within the United Kingdom directly to Ghana.
Remittance receivers on the policy will benefit from the following: natural death, accident, partial disablement, critical illness and hospital cash income benefit. Through this new collaboration with Enterprise Life, Zeepay is positioned to become a key digital player in the insurance sector contributing to increase penetration which is currently about 1-2% in Ghana.

Mr. Andrew Takyi-Appiah, Managing Director Zeepay said: “The insurance industry in Ghana has a low penetration currently estimated to be below 2 percent. While mobile money penetration is over 60percent in Ghana. This makes the product a perfect fit, as we leverage mobile money and remittance to drive insurance growth in Ghana. The product will focus on the micro sector of the economy where the bulk of population participate.”

Mrs. Jacqueline Benyi, Managing Director of Enterprise Life, the foremost life insurance company in Ghana, speaking on the impact of this new partnership, said this partnership provides another opportunity to extend our affordable and innovative life solutions to Ghanaians in the UK and the diaspora, thus a step towards providing all Ghanaians regardless of location an ‘Advantage in Life’ the reason for which we exist as an organization.