Britam Insurance, MTN Mobile Money partner to ease insurance access
Britam, a leading diversified financial services group listed on the Nairobi Securities Exchange, has today launched a strategic partnership with MTN Mobile Money Uganda Ltd that will see the global telecommunications giant distribute Britam’s insurance products through MTN MoMo agents and utilize MTN Mobile Money as a payment platform.
The partnership – dubbed Insurance Everywhere – is part of the Britam Group focus on customer centricity as it is aimed to improve accessibility of their services to current and new clients with a digital first approach.
The partnership will have an initial focus on Motor Third Party Insurance, which is a statutory policy within Uganda, but will in the long run also take on other personal product lines such as Travel Insurance and Domestic Packages in the future.
The Britam group has already seen success in its digitization efforts with parent company Britam Holdings generating KES Sh1.4 billion (UGX 150bn) in new business though revamped digital channels after the 2020 Covid-19 outbreak.
As a result of this progressive investment in this business process management software, Britam Insurance have been able to positively navigate the effects of the pandemic with robust business continuity.
“Our strategic formula is based on customer experience and this is why we are committed to multi-channel distribution to increase accessibility and choice. We are working with long-term partners such as MTN Mobile Money Uganda Ltd who share our digital first vision and approach to customer service and are looking forward to our customers benefiting from this”, said the Britam CEO Mr. Allan Mafabi who was speaking at the launch.
The partnership will see MTN MoMo Agents utilize the Agent App Motor Third Party System to serve customers whilst customer payments will be made through MTN MoMo Assisted Payments. All a customer needs to do is to dial 1654*5# to buy 3rd party insurance using MTN MoMo; aside from getting a sticker from our authorised Britam offices, agents and / or distributors, one can walk into the selected MTN shops to print out the insurance sticker.
Speaking at the launch held at Sheraton Kampala, Rwenzori Ballroom, the MTN Mobile Money Ltd General Manager, Mr. Stephen Mutana looked forward to the partnership with Britam Insurance: “Our partnership with Britam Uganda offers a glimpse of what the future should look like; we are thankful that Britam Insurance has seen the possibilities of what MTN MoMo can do to simplify and streamline the business operations process while easing the lives of customers. Combined with our large distribution network, we believe that we will offer additional excellent customer services to current and potential Britam Insurance clients”.
Other guests that were present at the launch included senior officials from the Insurance Regulatory Authority (IRA), Uganda Police – Traffic Division, MTN Uganda Executive Management Committee, Britam agents and distributors and senior journalists from the media.