First Allied pays claims on insured loans to disaster victims

First Allied, a savings and loans company, has presented cheques for GH¢20,388.33, being claims on insured loans, to victims of the recent Accra flood and fire disaster at a brief ceremony in Accra under its Obrapa Loan Insurance Scheme.

Some of the beneficiaries are Mujeeb Mustapha, who deals in oil filters at Odorna in Accra, and Richard Nartey, who sells computers at the Kwame Nkrumah Circle.

They received GH¢8,945.83, being payment for outstanding loan balance and cash benefits to help them recover from the shock.

Other beneficiary customers of First Allied who were also victims of the June 3 disaster received payments as follows: Stephen Nyarko, GH¢3,042.50; Dominic Nwafo, GH¢3,410; Alfred Sarpong, GH¢1,463, and Ebenezer Aboagye, GH¢3,526.67.

In a related development, Mr Frank Justice Agyei, a customer of First Allied who was involved in a motorbike accident, had his outstanding loan balance and cash benefit totalling GH¢2,804.50 paid to him.

Similarly, Madam Beatrice Bridgett Desewu of Kasoa in the Central Region who was hospitalised for close to 15 days has had GH¢600 of her loan instalment paid through the Obrapa Loan Insurance Scheme.

Innovative services

As part of First Allied’s commitment to provide innovative and responsive financial services for its customers, the Obrapa Loan Insurance Scheme designed by MicroEnsure Ghana and underwritten by Enterprise Insurance Company was introduced to facilitate the continuity of customers’ businesses in the event of disruptive disasters.

Under the product, all loans granted by First Allied are insured against unforeseen events such as death, hospitalisation, disability and destruction of business property or stocks by natural disasters, including but not limited to fire, flood, lightning, earthquake, windstorm, vehicular accidents, explosion, riot, strike, civil commotion, decongestion or demolition.

With its network of 23 branches nationwide, First Allied cherishes the service of providing a broad range of accessible and affordable financial solutions targeted at unbanked and financially under-served customers to deepen the financial inclusion processes and improve livelihoods.

Awards

This service quality has won it several awards from high-profile, well-recognised and prestigious institutions in the country and beyond, including the Platinum Technology Award for Quality and Best Trade Name (Italy 2015), the Most Innovative Product/Service Awards Africa – World Bank (African Project Development Facility) in 2002 and a prestigious member of the Ghana Club 100.

According to the Credits Manager of First Allied, Ms Selina Osei, other claim requests resulting from the Accra flood disaster were still being processed and expected to be paid in the ensuing months.