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Friday, January 27, 2023
HomeBusinessTelone Launches Insurance Platform

Telone Launches Insurance Platform

Telecoms giant, Telone yesterday launched the Insure-Me service which seeks to bring convenience to customers through offering various insurance products from a single combined digital touch point.

Through INSURE-ME, TelOne will provide insurance companies with a platform to sell various insurance as the business gets a commission for distributing the insurance-based products.

Speaking at the platform’s launch, TelOne Managing Director Chipo Mtasa said the development is going to give customers the option to access various insurance products under one virtual roof.

“This new offering is anticipated to bring convenience to customers through offering various insurance products from a single aggregated digital touch point in the comfort of customer homes,” Mtasa said.

She added that the platform has already onboarded eight short-term insurers and three life/funeral players. The short-term insurers are Old Mutual Insurance, Zimnat Lion Insurance, Nicoz Diamond, Champions Insurance, Sanctuary Insurance, Credsure, FBC Insurance new kid on the block, and AFC Insurance.

“Fidelity Life Assurance, Old Mutual Life Assurance and Zimnat Life Assurance are the life and funeral players on the platform,” Mtasa said.

Telone Chief Operating Officer Engineer Lawrence Nkala said the state-owned enterprise will provide insurance companies with a platform to sell various insurance products under distributorship arrangements with the different players.

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He added that besides contributing to customer experience in the sector, the introduction of this integrated virtual marketplace will contribute to improving the reach of insurance products and the consequent revenue growth.

The 2021 IPEC Insurance Report indicates that the Insurance sector wrote gross premium amounting to ZW$49.19 billion (in nominal terms) during the year-ended 31 December 2021, indicating an increase of 165% from ZW$18.56 billion for the year ended 31 December 2020

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