News Archive  

MTN launches life insurance service through mobile handsets

MTN has partnered with a South African insurance company to offer life insurance through mobile phones. Mi-Life has been launched in Ghana in association with Hollard Insurance and will be available through MTN’s Mobile Money banking service, launched in July 2009. As of December last year it had 4.3 million customers in 11 countries.
 Mobile Money will offer life insurance in Ghana (Photo:..
 
 
MTN has partnered with a South African insurance company to offer life insurance through mobile phones.

Mi-Life has been launched in Ghana in association with Hollard Insurance and will be available through MTN’s Mobile Money banking service, launched in July 2009. As of December last year it had 4.3 million customers in 11 countries.

The plans will cover funeral costs and offer Ghanaians a service that is often too expensive for most as MTN says it will "dramatically reduce the cost of insurance".


READ RELATED STORIES FROM THE WDM CONTENT NETWORK

To read the latest edition of African Business Review, click here.

Africa’s telecoms movers and shakers

Top smartphones: Opening doors to a communications revolution

How to raise an online profile in Africa



MTN said yesterday that MTN Mobile Money customers would be able to buy life insurance via their handsets and submit claims, queries and make premium payments, said Bruno Akpaka, General Manager for MobileMoney in Ghana.

“Twenty-two per cent of people in Ghana have insurance; 55 percent say they can’t afford it. In terms of affordability, we’ve tried to address that,” said Jeremy Leach, Head of Micro-insurance at Hollard.

Leach added that more Ghanaians have MobileMoney than bank accounts Ghanaians will be able to pay premiums as low as one cedi ($0.65) per month on their mobile phones ach says since more Ghanaians have mobile money than bank accounts, this will revolutionize their access to life insurance.

MTN are already benefiting from increased mobile penetration in the continent – find out how by clicking here. The company has also set itself an ambitious target of doubling its client base in Kenya.



Featured Articles + MORE Featured Articles >>