Zambia’s second largest mobile operator MTN has signed a partnership agreement with Hollard Life Insurance aimed at providing educational cover for school children.
The policy called EduSure will be distributed under the MTN platform and enable customers to access the insurance facility on mobile phones with premiums being deducted from their mobile money accounts.
The MTN network will serve as a distribution channel while Hollard Insurance will act as the underwriter for the product and provide policy administration.
The agreement is expected to help grow MTN’s number of mobile money account customers.
MTN Zambia chief executive officer Abdul Ismail said insurance in Zambia has not been made available or targeted at the low-income market until now.
Ismail said the insurance cover can be signed by customers between the age of 18 and 65.
“The policy has a minimum monthly cover of K1.50 ($0.29) and a maximum of K10, 000 ($194) and can be signed up by clients between the age of 18 and 65,” Ismail said.
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