Airtel
Nigeria has collaborated with MicroEnsure and Cornerstone Insurance in order to
launch its latest, free insurance product. The product offers Airtel customers
life and hospitalisation insurance with increasing benefits based on monthly
airtime recharge.
The
product, which is named Airtel Insurance is packaged to deliver insurance
services and encourage insurance culture among Nigerians. According to Airtel,
the product has been endorsed by the National Insurance Commission (NAICOM). It
is open to all Nigerian residents between the ages of 18 and 65 years. Dial
*259# to register for the service.
All
hospitalisations are covered, both for natural and accidental causes, with no
medical exclusions, making it widely accessible and generous free insurance
cover in the country.
Airtel
Insurance rewards Airtel customers with a renewable monthly life and
hospitalisation cover based on the amount of monthly airtime recharged.
Customers can qualify for this insurance by recharging as little as N1,000 with
Airtel each month, and as they increase their monthly recharge, they earn more
insurance cover – with up to N 500,000 and N50,000 of life insurance and
hospitalisation cover per month. Airtel Insurance becomes active on the first
day of month following registration, and is based on the amount of airtime
recharged the previous month, with a minimum monthly recharge of N 1,000
Customers
also have a variety of packages to choose from. With a monthly recharge of
N1,000 Airtel insurance gives the customer N10,000 hospitalisation and N100,000
life insurance while N5,000 recharge will earn customers as much as N25,000
hospitalisation and N250,000 life insurance. A N10,000 recharge will attract
N50,000 hospitalisation and N500,000 life insurance.
Chief
Commercial Officer, Airtel Nigeria, Mr. Maurice Newa explained that majority of
Nigerians especially the middle and low income earners in Nigeria cannot afford
most available insurance policies due to income levels and complicated
insurance processes. He said the Airtel Insurance plan on the other hand was
designed to make affordable insurance available to everyone in a simple manner.
“In line with
our vision to enrich the lives of Nigerians and offer them quality services,
Airtel Nigeria collaborated with two very reputable insurance organisations to
package this innovative product which guarantees our customers quality,
affordable and accessible insurance services. This further corroborates
Airtel’s commitment towards creating a robust platform that helps customers
accomplish their professional and personal success and goals in life,” Mr. Newa
said.
“MicroEnsure
is proud to be leading the world as a mobile insurance provider, and this
launch in Nigeria marks a milestone in free mobile insurance offerings,”
commented Peter Gross, Regional Director for MicroEnsure Africa. “This
combination of insurance products, all offered for free, is unprecedented in
the industry here, and we take pride in introducing a cutting edge
micro-insurance product here in Nigeria.”
Mr. Ganiyu
Musa, Group MD of Cornerstone Insurance PLC, said, “Cornerstone is delighted to
be at the forefront of providing truly innovative products and channels
combinations that address the Nigerian situation. That we are grossly
under-insured as a nation is very well documented; we are glad to be able to
provide a platform for millions of financially excluded Nigerians to enjoy the
benefits and peace of mind of insurance – for free. As we say at Cornerstone,
“The Future” is, indeed, “Assured.”
IT NEWS AFRICA
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