Access Bank, Coronation Insurance partner for four-fold insurance package for SMEs

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As further evidence of its commitment to the prosperity of Small and Medium-sized Enterprises (SMEs) – which account for more than 70 percent of businesses in the country, leading financial services provider, Access Bank, has partnered with Coronation Insurance Ghana Limited to provide a four-fold insurance package to small businesses.

Dubbed the Business Protection Insurance, the offering provides low-cost, high-impact insurance covering fire, flood, burglary, personal accident, and allied perils, to ensure small businesses remain as a going concern, following any untoward events.

Unveiling the new insurance package at an SME forum, together with the Managing Director of Access Bank Olumide Olatunji, the Managing Director at Coronation Insurance Ghana, Adedayo Arowojolu, said the partnership was evidence of both outfits’ commitment to the welfare of their customers and ensures they are kept well-informed on the best available products.

“Events in recent times have shown the destructive power of fire and flood… We have come up with this laudable programme where people that have a common interest – small businesses – come together and are informed about the devastating effects of fire, flood, and others,” he said. He added that the programme, not only seeks to provide curative solutions but also: highlight precautionary steps to prevent or mitigate natural and man-made mishaps.

Offering additional insight, Head of Sales and Distribution of Coronation Insurance, Seth Sorgah said, “Businesses are like human beings; they need to be protected. We have therefore bundled four products into one, to provide holistic protection for you and your wares in the unfortunate incidence of fire, flood, burglary, and personal injuries at very good rates.”

The President of the Traders Advocacy Group Ghana (TAGG) Mr. David Amoateng commended Access Bank for their ever-growing interest in meeting the needs of traders and businesses in general and for partnering with TAGG.

He stated that there still remains a dearth of information about insurance, urging the financial institutions to: “educate market women and men on insurance because many people don’t know the importance of insurance and therefore don’t see the need to take one.”

He further called on Access Bank to continue to support businesses with soft loans especially as the yuletide approaches, adding that, belonging to a collective body raises the creditworthiness of business people.

On her part, Group Head, Retail Banking at Access Bank, Matilda Asante – Asiedu, said the bank would leverage its wide network of physical branches, agent bankers, and digital platforms to reach traders even outside city centers.

“We are not everywhere physically but thanks to digitalisation, we can transact anywhere in Ghana.”

She encouraged traders not to defer in taking insurance policies, but to act on the information they had received at the forum


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