Yu wades into insurance to boost market share
VALUE ADDED SERVICES| Sept. 12, 2012, 12:26 p.m.
By Semaj Itosno, Nairobi, Kenya
As competition in Kenya’s mobile telephony reaches fever pitch, operators are getting more intuitive to attract customers.
Now yuMobile has unveiled an insurance scheme that gives a life and disability insurance cover for its pre-pay subscribers.
The company will provide life and disability cover to it subscribers making a minimum call spend per month of Sh100 and the level of cover increases up to Sh60,000 as the mobile phone users call more on the Essar network.
Dubbed “yuCover”, the product is underwritten by Jubilee Insurance and powered by MicroEnsure.
“This product rewards yuMobile subscribers with a renewable monthly life and disability cover based on the amount of airtime re-charged each month. As an introductory offer, yuMobile is extending this Insurance for free up to 31st October 2012 (after which a nominal fee is applicable),” reads yuMobile’s communique.
How the yuCover works
Subscribers simply dial *555# to learn about yuCover, register, access policy details, and make a claim.
The cover offers monthly renewable insurance in the event of loss of life or permanent disability suffered by a yuMobile subscriber. Provided that subscribers top up at least Ksh100 each month, they will maintain this insurance. Subscribers do not have to purchase the airtime in a single transaction as yuCover calculates the cumulative airtime purchased for each month.
The yuCover becomes active on the first day of the month following registration and basis cumulative Recharge value. For example, a registered subscriber who tops up Ksh350 in September will enjoy Ksh20,000 insurance for full month of October. By topping up Ksh550 in October, they will enjoy Ksh40,000 insurance in November.
To make a claim, registered subscribers and beneficiaries simply dial *555*4# or 0750 100 100 and a MicroEnsure agent will return the call to assist with the claim.
According to Jubilee, once submitted claims would be reliably paid within one week.
Essar Telecom Kenya is Kenya’s fourth mobile cellular network under the brand “yuMobile”, launched in December, 2008. The network has a subscriber base of over 2.8M subscribers
MORE VALUE ADDED SERVICES NEWS
Apollo Hospitals, Airtel seal telemedicine dealTwo Indian giants, Apollo Hospitals and Airtel Nigeria, have struck a deal designed to bring affordable health care to Nigerians and Airtel’s Premier customers. Read More
Millicom partners Deezer to bring Tigo Music to 5 African marketsTelecoms and media firm Millicom has announced an extension of its partnership with music streaming service Deezer to take its Tigo Music service to five markets in Africa. Read More
Airtel Money offers KRA mobile tax payment servicesBharti Airtel has partnered with the Kenya Revenue Authority (KRA) to offer Kenyan citizens an opportunity to pay their taxes through Airtel Money. Read More
Embracing mCommerceThere’s a word on the lips of everyone in the know these days, and that word is “mCommerce”, says Red & Yellow. Read More
Airtel Money launches new partnership with MOGASAirtel Uganda and MOGAS have officially unveiled their new partnership that allows customers to pay for any MOGAS products and services using Airtel Money at their 38 stations across Uganda. Read More
Econet launches Connected Car serviceEconet has launched yet another revolutionary product branded the Econet Connected Car. Read More
Tigo cash trains over 2,000 agentsAs part of efforts to scale up mobile financial services, particularly in the informal sector, mobile network operator, Tigo is training over 2,000 agents in its award-winning mobile money service, Tigo Cash. Read More
Airtel Money to launch cross border money transfer service across East AfricaBharti Airtel has announced plans to launch a cross border money transfer product in East Africa. This is a first in market initiative across Africa and will enable Airtel Money customers to send, receive and withdraw money from their Airtel Money wallets. Read More
MTN set to support money transfers between Rwanda and UgandaMTN Uganda is partnering with MTN Rwanda to deliver cross border transactions between the two countries. Read More
Former Kampala mayor demands UGX8bn from MTN UgandaMTN Uganda has found itself in protracted lawsuit involving copyrights on caller tunes in a case whose outcome could set a precedent for similar scenarios in future. Read More
FEATURED STORYGrowing African focus on data security
Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.
COMPANY NEWSVMware reports third quarter 2014 results
VMware, the global leader in virtualization and cloud infrastructure, today announced Year-over-Year Revenue Growth of 18% to $1.52 Billion in its financial results for the third quarter ...