MTN MoMo and Britam Insurance have partnered to help boost the penetration of insurance services in Uganda.
The new partnership will see Britam customers use MTN mobile money to access third-party insurance but according to officials from both companies, with time, all insurance products will be able to be accessed and paid for using MTN platforms.
How to use MTN MoMo to buy motor 3rd party insurance from Britam
All you need to do is dial *165*4*5# to buy 3rd party insurance using MTN MoMo and follow the prompts. For the first time ever, you can get your readily printed Britam sticker from select MTN Uganda outlets.
What the officials said:
Allan Mafabi, the Britam CEO, says the partnership will help the company ride on MTN Uganda’s popularity and network to sell insurance products to members of the public.
“This is a partnership that we think will ensure simplicity and convenient services to our customers. since we pride in being the best company in settling claims that has seen us be in the top three players in the country.“
Steven Mutana, the MTN Mobile Money CEO, says that the partnership reasons with the telecom company’s goals to ensure services to people wherever they are.
“MTN believes that everyone deserves benefits of a modern digital network and therefore this partnership is democratization of insurance. With this partnership, customers will conveniently pay for insurance in the comfort of their offices and homes.“
Edward Kasato from the Uganda Insurance Regulatory Authority believes that such partnerships will help the insurance sector make more gains in terms of penetration.
“This is a good idea and as the regulator, we welcome such. The telecom industry already has a big customer base and partnering with insurance sector will take the industry to another level.“
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