Esich joins life insurance market

Esich Life Assurance Company Limited has started business as a new life insurance firm aiming to provide an innovative range of life products to both formal and informal sector clients.

The Ghanaian company said its vision is to increase financial liberation across the African region through the provision of excellent and trusted life assurance solutions that leverage technology, innovation and superior service delivery.

With an initial working capital of GH¢10million, the company plans to be a market leader with its competitive range of products that will deliver value to clients and profitability to shareholders, said Managing Director Richard Adu-Marfo at the launch in Accra.

“Esich Life is entering the life insurance market with the core aim of rolling out tailor-made and viable products to our cherished business clients. Our products are specifically designed for business associations, groups and churches, as well as schools and individuals.

“We are in business to serve both the formal and informal public as we have specific products to meet the various markets. We want to be the stimulus for the financial liberation of Africa by targetting and supporting businesses in the informal sector to sustain their daily transactions.”

He said the company will apply the “No Premium, No Cover” directive of the National Insurance Commission (NIC) to check against premium loss and enable it to pay claims promptly.

Some of the company’s products include the Esich School Plan, Esich Wealth Creation Plan, Esich Life Memorial Plan, and Esich Group Funeral Plan. The others are Esich Credit Life and Mortgage Protection Plan, and Esich Employee Benefits.

By Patrick Paintsil | B&FT Online | Ghana