By James Anyanzwa
You can now buy a Personal Accident (PA) cover from APA Insurance Company in the comfort of your work place or home, using your handset mobile phone.
This follows the launch of a mobile-based service dubbed ‘APA Kopa Bima’ by APA Insurance in conjunction with Rapid communications and AAR credit services that will allow the customers to make premium payments in monthly installments, while they enjoy full cover benefits.
The annual premium is as low as Sh600, to make it affordable to majority of Kenyans. APA Kopa Bima is specially designed to provide a wide range of benefits including death or permanent disability of Sh100,000 and hospital and funeral expenses at a maximum value of Sh20, 000 each.
New technology
Speaking during the launch, Apollo Group CEO Mr Ashok Shah said, “We are constantly looking to utilise new technology as a means to increase penetration and accessibility of insurance services not only in Kenya, but in the entire East African region”.
The transaction is paperless and done entirely on the mobile phone. “Mobile phones have continued to transform how we conduct business. As an added value to mobile subscribers, we are looking forward to providing more solutions, which will allow subscribers access and ease to various services in the market”, said Rohit Mediratta, Chief Operating Officer of Rapid communications.
Once subscribers dial *695#, on both Safaricom and Airtel networks, it will be possible to follow an easy process that shall provide product information, registration process and claims notifications. Premium payments shall be via the mobile money transfer —Mpesa and Airtel money. Registered customers will also buy cover for their loved ones.
This use of mobile insurance will also spur the growth of mobile commerce. The World Bank estimates only 10 per cent of Kenyans access conventional banking facilities.
“The simplicity and accessibility for mobile phones and services compared to complicated and costly bank account explains the phenomenal growth of mobile commerce in Kenya,” added Rohit Mediratta.
