VodaBima to increase inclusivity in digital insurance uptake

Dar es Salaam. In a bid to enhance inclusivity of insurance usage in the country, Vodacom Tanzania PLC, through its VODABIMA service available on M-Pesa, has launched a comprehensive digital insurance campaign that will benefit both outpatient and inpatient cover plus motor and life cover across the country at an affordable cost.

Speaking at the campaign launch, Vodacom M-Pesa Director, Epimack Mbeteni, noted that after launching motor insurance in collaboration with over 16 partners in the country in 2021, the company has now expanded its insurance portfolio.

This includes the introduction of individual health insurance in partnership with Assemble Insurance, Life Insurance in partnership with Sanlam Insurance and Group Life Insurance in collaboration with Jubilee Insurance as part of the company's journey to lead the revolution by bringing inclusivity to the sector nationwide.

"We are excited to launch an extensive insurance campaign including our comprehensive health insurance product dubbed 'AfyaPass' that caters to both outpatient and inpatient services available at different hospitals nationwide. Accessible through mobile phones and specifically M-Pesa, this service aims to simplify access and increase the inclusivity of insurance usage for everyone. AfyaPass is a very affordable product available at an annual cost of as little as 70,000 Tanzanian Shillings per person. Additionally, one can enroll another person onto their cover at any time because everything is done via the mobile phone," Mr. Mbeteni explained.

Mbeteni also highlighted VODABIMA’s motor insurance product which offers both third-party and comprehensive covers at an affordable cost as well as the life insurance offering.

“Our life insurance product which is set to cover our customers and their relatives in times of death or disability has also been made available to groups to provide peace of mind and stability to Tanzanians,” detailed Mr Mbeteni.

On his side, the Director General of Tanzania Insurance Regulatory Authority (TIRA) Dr. Baghayo Saqware highlighted that the digital insurance campaign will boost the insurance industry as it will boost both access and affordability of insurance products in Tanzania thus increasing uptake.

“I commend this initiative of using mobile phones to access insurance services, as it will help in raising customer’s number, but I can advice you to review your products from time to time, this will give you visibility on when and how you need to upgrade your products,” said Dr Saqware while citing that in 2022, insurance industry comprised of 17.8 million which equals to 28.9 percent of the total population in Tanzania.

Through digital innovation, VodaBima aims to facilitate an affordable way of accessing insurance services, which has been hindered by various challenges, including a lengthy process to reach service providers.

"This launch aligns with supporting the Government's efforts to ensure that all Tanzanians have health insurance regardless of their economic status. Using our extensive mobile communication network, reaching over 21 million customers nationwide, we believe that many people will benefit and be reached more effectively. Joining VodaBima is easy and affordable because it does not require individuals to visit insurance offices, and they can pay gradually according to their capacity," added the M-Pesa Director.

Since its inception about two years ago, VodaBima has sold over 1.5 Million policies to over 200,000 customers across its portfolio of services i.e Motor, Health and Life insurance.

The insurance service’s launch was followed by the introduction of significant insurance premium financing for different customers, along with life insurance, all of which play a crucial role in the welfare and development of Tanzanians.

"I would like to take this opportunity to urge our customers and Tanzanians in general to make the most of this opportunity. This service is important for everyone because it prepares us for unforeseen circumstances and relieves us of worries when faced with problems. No one knows when they will encounter difficulties and how prepared they will be. Insurance is a sure solution to protect yourself and your loved ones," concluded Mr. Mbeteni.