Adedayo Arowojolu (2nd right) with his management staff at the launch
Wapic Insurance Ghana has launched its new Motor Insurance product tagged ‘MOOV’ as part of its corporate objectives to transform and illuminate the insurance industry for the benefit of its customers and other stakeholders.
The product, which is a hybrid of Wapic’s old motor insurance product, is intended to meet the needs of customers for budget and lifestyle flexibility.
The motor product comes in four variants, which are the MOOV (basic) for third party motor insurance only; MOOV Plus for third party, fire and theft; MOOV Prestige for basic comprehensive insurance and MOOV Luxury for the maximum motor cover available.
According to Wapic Insurance, motor insurance in Ghana is almost commoditized and customers have limited choices in terms of features and benefits, and therefore bringing innovative products onto the market as a differentiator is crucial.
Adedayo Arowojolu, Managing Director of Wapic Insurance, who was speaking at the media launch in Accra, said the fundamental component of its corporate strategy is customer experience leadership and operational excellence to drive product introduction that were relevant and necessary for the protection of property.
He said the company had positioned itself to lead in the industry’s transformation through innovative management of value drivers for the benefit of the insuring public, adding that “our efforts have culminated in the redevelopment of our motor insurance product.”
Mr Arowojolu said an integral part of the product is the fact that the customer could literary custom-create his insurance cover.
He said there are more product purchase channels for the insuring public.
The MD expressed hope that the product would contribute significantly towards the positive change in perception of insurance, as well address major needs of customers.
A Business Desk report