by HASSAN ONYANGO
KAMPALA – MTN Mobile Money (MoMo) Uganda and Sanlam believe their partnership would enhance affordability to insurance among citizens.
The mobile operator and finance firm have expanded their ties with the rollout of a mobile-based insurance platform – Cover by MoMo- which they anticipate to bring simple, affordable and inclusive insurance services closer to Ugandans.
“For too long, insurance has felt out of reach for many, too much paperwork, complicated processes and simply not built for the everyday Ugandan. But now, that changes,” said Hellen Kirungi, Senior Manager of Loans and Savings at MTN MoMo.
A bundled service, Cover by MoMo covers illnesses, accidents and life.
The Family Cover Insurance Package is the first offering under Cover by MoMo.
It offers life and hospitalisation cover from a minimum of Sh500 (US$0,14) per month for up to six family members.
“We know insurance has not always been easy to access. That’s why we’ve reimagined it with convenience, affordability, and inclusivity at its core,” said Richard Yego, MTN Momo Chief Executive Officer.
Nicholas Wavamuno, Sanlam Uganda Business Intelligence and Growth Manager, also speaking at the launch, said, “The product is a testament of the partnership and combination of Sanlam Uganda’s underwriting expertise and MTN’s robust digital platform, MoMo.”
In April, MTN MoMo and Sanlam Investments East Africa launched a micro-investment platform – Yinvesta – enabling Ugandans to invest a minimum Sh1 000 ($0,28), earning daily interest.
– CAJ News
