peter
Business Reporter
ECOSURE, the micro-insurance product from Econet Life, has played a significant role in raising the country’s insurance penetration from as low as five percent to over 16 percent.
Through its innovative insurance product, and riding on its group’s wider mobile telephone footprint, EcoSure provides cover to thousands of Zimbabweans.
General manager, Mr Godwin Mashiri, said the insurance service covers more than three million people, who all register and maintain their cover using the mobile phone.
“We are proud that through EcoSure we have extended insurance cover to millions of Zimbabweans, and in particular that we have successfully reached millions of previously marginalised and financially excluded citizens, who now know what insurance is and are benefitting from its cover,” said Mr Mashiri.
EcoSure allows Zimbabweans to sign up for micro-insurance and pay their monthly premiums from wherever they are using their mobile phones. The claims are also settled via mobile money using the same digital mobile channel.
“Leveraging digital solutions has been key for us in scaling the service, keeping premiums low and reaching the previously uninsured,” said Mr Mashiri.
He added that in the past year alone, EcoSure helped more than 10 000 families accord decent burials to their loved ones because of the affordable funeral cover that it offers.
The company was recently recognised as the most innovative insurance firm in its industry category, with the adjudicators lauding it for making client communication simpler through the use of innovative technologies.
During the Covid pandemic, the digital nature of EcoSure has meant that the health and safety of clients is supported by registrations, payments of premiums and the settlement of claims via digital means.
Online Reporter