Star Assurance, one of Ghana’s leading general insurance providers, together with its corporate agency, AssureAdvisors Limited, has launched two refurbished personal insurance products in the Ghanaian market.
Branded as Star Personal Guard and Star Stock Assure, these two products offer tailored insurance coverage for the public. The Star Personal Guard is a 24-hour personal accident insurance policy that indemnifies the insured or their legal representative in the event of death, permanent disability and medical expenses, while the Star Stock Assure protects retailers and other commercial enterprises that sell goods against fire and its related risks.
These refurbished products will be underwritten by Star Assurance and are available on all its platforms with active sales and marketing support provided by all Star Assurance intermediaries.
“These products reflect the continuing pace of change in the general insurance industry, taking into account the changing needs of consumers,” said Ms. Doreen Denu, Managing Director of AssureAdvisors in a brief statement.
She continued, “We leveraged the financial strength and claims handling expertise of Star Assurance and the market knowledge, passion and customer service skills of the team at AssureAdvisors. to offer this suite of products to the general public of insurers.
Star Personal Guard is a tailored, no-frills personal accident insurance policy for everyone. It covers Death, Permanent Disability and Medical Expenses. The policy has three (3) main limited options, namely Platinum, Gold and Silver options for its target market. Silver cover provides a death and permanent disability limit of GHS 5,000 and a medical expense limit of GHS 1,000, while Gold cover provides a death and permanent disability limit of GHS 10,000 and a medical expense limit of GHS 10,000. medical expenses of GHC 2,000. The final and broadest coverage under Star Personal Guard is Platinum coverage. It provides a death and permanent disability limit of GHS 20,000 and a medical expense limit of GHS 5,000. Additionally, the policy can be easily assigned to any beneficiary; in fact, the capital is protected and can be bequeathed to dependents.
The second product, Star Stock Assure, provides insurance coverage for various commodities against major perils such as fires, explosions, riots, strikes, animal impact, earthquakes, floods and disasters. other elements that could pose a threat to businesses. Under this policy, a holder’s inventory is well protected and contractually ASSURED.
“Star Assurance is known for its success in simplifying insurance for customers, and we think that’s important. AssureAdvisors looks forward to working with Star Assurance to take this exciting step of launching products together along this journey,” concluded Ms. Denu.
For his part, Mr. Michael Adomako, Product Development Manager of Star Assurance said, “We have once again demonstrated our commitment to the insurance public and we are delighted with this collaborative effort with AssureAdvisors. We look forward to many more such partnerships with the ultimate goal of bringing credible insurance solutions to our clientele.