Airtel Money provides insurance and micro saving services via mobile phone

Sep 12, 2013

Airtel Money has announced the establishment of a strategic partnership with MMI Holdings Limited, an insurance-based financial services company, designed to broaden its range of services.

Airtel Money has announced the establishment of a strategic partnership with MMI Holdings Limited, an insurance-based financial services company, designed to broaden its range of services.

This new agreement will give Airtel Money Customers
access to insurance and micro savings services via mobile phone in five countries: Ghana, Kenya, Nigeria, Tanzania and Zambia.

Commenting on the partnership, Airtel Money's director Chidi Okpala said that Airtel customers are poised to benefit greatly from this new agreement which eliminates all the hassles and complications involved in buying insurance and micro savings services, Capital FM reports.

He added that while a huge part of the African population still doesn't have access to financial services, the mobile telephony penetration rate in Africa keeps growing each year.

Many experts believe that mobile phones will transform the insurance sector in Africa and even globally. Research published by African Business shows potential for 1.5 to three billion new policies among low-income consumers around the globe, while insurance penetration currently stands below five percentADNFCR-2976-ID-801636694-ADNFCR