Yu wades into insurance to boost market share

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
Yu wades into insurance to boost market share

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



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

TransUnion launches Nipashe credit checking solution for Kenya

TransUnion has launched an innovative new SMS short code solution that enables consumers in Kenya to easily access their credit information.  Read More

Orange Money Botswana tops 300,000 subscribers

Orange Money Botswana has announced that its customer numbers have reached the 300, 000 mark. Read More

Airtel, Wari expand financial inclusion in Nigeria

Airtel Nigeria has collaborated with payment solution provider Wari, to provide an innovative payment platform for Nigerians. Read More

Glo Xchange agents roll out operations on mobile money

Globacom has announced its readiness to roll out the first set of market-ready agents for its mobile money service, Glo Xchange. Read More

BotswanaPost releases app for electricity purchasing

BotswanaPost has officially released a smartphone app allows users to users to purchase prepaid electricity using mobile phones. Read More

GeoPoll, Kantar Media Unveil Kantar-GeoPoll Media Measurement in Africa

GeoPoll’s mobile platform and media measurement service is to be combined with Kantar Media’s experience in audience measurement methodology. Read More

Study: online gambling goes mainstream

New data from Juniper Research has found that more than 1 in 10 adults worldwide will engage in some form of mobile or online gambling by 2019. Read More

Is Kenya ready for social commerce?

With 99% of Kenyans accessing the internet through smartphones, many factors still hamper the growth of social commerce, says Jumia’s Communications Manager. Read More

MTN Ghana holds 2nd Mobile Money forum in Accra

MTN Ghana held its second Mobile Money Stakeholders’ Forum in Accra this week, under the theme maximizing the potential of mobile money to drive financial inclusion in Ghana.  Read More

Now parents can use mobile to pay kids for doing their chores

ZAZOO has partnered with Funifi to add a secure mobile payment mechanism to an app that encourages kids to do their chores.   Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Young innovators shine during pitch sessionsYoung innovators shine during pitch sessions

Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.

IN DEPTH

High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.