MTN and MMI Holdings introduce insurance cover Using Mobile Money
MTN Uganda, in partnership with aYo, today announced innovative micro-insurance products, Recharge with Care and Send with Care. The two are the first products launched by aYo – a joint venture between MTN and MMI Holdings – announced in September last year. aYo was formulated to have a strong focus on delivering micro-insurance solutions across the African continent.
aYo Recharge with Care offers MTN pre-paid customers an easy way to get free hospital or life cover. Whenever you load MTN airtime, you will receive 30 days’ free cover. To sign up, simply dial *296# and choose the cover you prefer: MyHospital or MyLife.
Adding aYo Send with Care to MTN Mobile Money transfers means that, in the unfortunate event of your passing or should you be hospitalised for a night or more, aYo will pay triple the amount you sent to your beneficiaries, either in one lump sum or in 12 equal monthly instalments, depending on your cover level. All you have to do is dial *165*1*4# to start Sending your money with Care.
“We are very excited to bring two very innovative products to our customers in Uganda. aYo helps you look after your loved ones, and we even reward you for doing so. If you interact with either of our products on a regular basis, we give you bonus value which, when it grows to UGX2,000, can be cashed out to your MTN Mobile Money wallet, used to buy more cover or MTN airtime,” said aYo Uganda Marketing Manager, Thomas Sekanwagi.
Commenting on this new partnership, Wim Vanhelleputte, Chief Executive Officer at MTN Uganda said: “We are delighted to partner with aYo to launch yet another set of products that further expands and strengthens our bouquet of mobile financial services offerings. Send with Care adds a further layer of security and customer-facing benefit by adding cover to funds sent using MTN Mobile Money while maintaining the convenience that has become a core feature of Mobile Money itself.”
"We are also very excited about Recharge with Care because for the first time, we are able to offer free cover and consequently, peace of mind, on all airtime recharges on the MTN network,” he concluded.
Edwin Kwesiga, Chief Executive Officer at aYo Uganda commented: “aYo is delighted to partner with MTN on this exciting venture. This partnership gives us an ideal opportunity to demonstrate the value of life and healthcare cover to their subscriber base. This will be achieved by building innovative products closely aligned to the real life and healthcare needs of the Ugandan consumer and will be backed by an awesome customer experience.”