Telecel Zimbabwe, the country's second largest telco, on Thursday last week ventured into the mobile insurance space after partnering with Zimnat Lion.
Telecel's mobile insurance product will enable its subscribers to pay premiums using their phones.
Monthly premiums, starting from as low as 45 cents, will give subscribers medical, hospital cash back and international travel cover of up to $50 000.
"Customers will be able to make premium payments on a monthly basis from their mobile phones," said Telecel Zimbabwe in a press release.
The company has therefore sought to address this with its Telecare mobile insurance scheme that "allows anyone with a cellphone to register for insurance" cover, he added.Telecel's head of marketing, Clever Isaya, said the Zimbabwean insurance industry was fraught with "negative perceptions when it comes to registration and signing up for insurance".
Stanley Mazorodze, the managing director for Zimnat, told a media briefing on Thursday that the company had "for a long time" been looking for a mobile company to partner" it in developing a micro-insurance scheme.
Telecel Zimbabwe's rival mobile operator, Econet Wireless, terminated its EcoLife mobile based life cover scheme after encountering technical problems with Trustco, a Namibian software company.
Econet executives have previously been quoted as saying that they were looking at re-launching a new mobile life insurance product.
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