Mobile Finance

New mobile insurance services on the way in Uganda and Jordan

New mobile insurance services on the way in Uganda and Jordan

The continuing advances made by insurance services into the mobile communications sphere are illustrated by new insurance-related partnerships in two very different markets: Uganda and Jordan.

Britam Uganda, a leading diversified financial services group, and Airtel Mobile Commerce Uganda Limited, which operates Airtel Money Uganda, have launched a strategic partnership to expand access to regulated insurance, investment and other inclusive financial solutions through mobile-first channels.

The partnership establishes a long-term platform through which Britam and Airtel Money will combine financial-services expertise, digital infrastructure, customer reach and familiar payment behaviour to make protection and investment easier to discover, understand, pay for and use.

The partnership will be brought to market under the Insurance Ku Ssimu campaign platform. It is designed to reduce barriers such as distance, paperwork, limited operating hours and time away from work, while maintaining clear accountability, customer protection and the standards required of regulated financial services.

Britam brings capabilities across general insurance, life assurance and asset management. Airtel Money brings a nationwide digital payments platform, an extensive agent ecosystem and communication channels that reach customers across urban, peri-urban and rural communities.

Together, the organisations say they will develop and distribute solutions based on demonstrated customer needs and subject to the relevant regulatory approvals. 

The first live use case is Motor Third Party insurance. Airtel Money customers can dial a code, enter the required vehicle details and authorise payment securely using their Airtel Money PIN. Following a successful transaction, the customer receives confirmation by SMS and can retrieve the digital Motor Third Party sticker at a supplied link.

Britam and Airtel Money say they will undertake media engagement, market activations, digital education and live demonstrations to help customers understand the role of insurance and investment, the services available through the platform and where to obtain support.

Meanwhile in Jordan, Orange Money, the e-wallet owned by Orange Jordan, and Middle East Insurance Company (MEICO), one of Jordan's oldest and largest insurance providers. have signed a strategic memorandum of understanding (MoU) to develop insurance services and products that offer an innovative digital experience that is easily accessed and can be purchased via the wallet’s app. This partnership comes as part of the cooperation framework aimed at promoting innovation in the insurance technology field and fostering insurance inclusion for different segments of users.

As part of the agreement, MEICO’s Haseen product will be integrated into Orange Money’s wallet. The newly launched online product is apparently the result of a hackathon last year, organised by the UNDP in partnership with the Central Bank of Jordan, the Jordan Insurance Federation, the Institute of Banking Studies, and the FinTech Academy, to develop advanced insurance products.

Orange Money is one of the most prominent e-payment service providers in Jordan, with more than 1.7 million registered wallets and a market share exceeding 50%.



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