Africa-Press – Eswatini. Orchard Insurance Group, in partnership with MTN Eswatini, has launched a new product called Emoyeni Funeral Benefit.
The product has a maximum cover of E30 000 with monthly contributions from as little as E20.
The launch of the product was held at Sibanesami Hotel yesterday.
Orchard Insurance Group Business Development Manager Melisizwe Mdluli said the new product was easily accessible and convenient as the application process is quick and easy.
“One of the highlights of the application process is that it takes quite a short time to complete an application via the MoMo marketplace,” he said.
He mentioned that this was a product that was reserved for MTN subscribers and Mobile Money users as it was currently only available on the MoMo marketplace.
“It is however under development to ensure that it is available under USSD for clients who do not use WhatsApp,” he said.
He added that another good thing about the product was that clients would have an option to add their extended family members.
Limit
“We understand that we have parents and extended family members so you are allowed to add them and you have a limit of six extended family members and limit of four parents,” he said.
He mentioned that the minimum premium they have on the product starts from contributions as little as E20 per month for E10 000 cover, E40 for E20 000 cover and E60 for E30 000 cover.
“The fact that you can make payment via Mobile Money makes it all convenient for the client,” said Mdluli.
He added that any amendment that a client would wish to make was available at their fingertips as they could do those amendments on the same platform they used to apply, the MoMo Marketplace.
“These amendments include changing of personal details which include addresses, marital statuses and beneficiaries and benefit options. These would then apply in the details of your policy without you coming to our offices,” said Mdluli.
Seamless
He mentioned that the claims process was one that would be very seamless as claim forms could be sent electronically or physically.
“For claims there is a waiting period of six months maximum for natural deaths and no waiting period for accidental death,” he said.
2025 strategy is for platforms development – MTN
MTN Senior Manager AML, Risk Compliance Gugu Simelane who represented the chief executive officer (CEO) said at the core of their 2025 strategy was the development of platforms, FinTech and APls, to becoming an enabler for businesses wishing to plug into their platforms which would leverage the reach of the MoMo Wallet.
“It is of particular significance to me and the MTN FinTech team to be able to provide our platform, the MoMo Marketplace, to a partner like Orchard Insurance,” she said.
Simelane mentioned that the MTN FinTech strategy’s success was dependent on partnerships and by leveraging such partnerships, the use of MoMo goes beyond traditional means and explores new avenues for the different customer needs.
Achievable
“It is the participation of businesses such as Orchard Insurance that also makes our financial inclusion goal achievable,” said Simelane.
She explained that MoMo Marketplace was a digital platform where they brought businesses and their customers together to exchange value.
“This platform is accessed via WhatsApp, a very familiar social networking application where there is a step-by-step process,” she said.
She mentioned that with the MoMo Marketplace platform, MTN FinTech desire to improve the way members of the public accessed services and also ‘ensures we grow with the world in making payments simpler and the MoMo Marketplace platform had been active for a while as most clients enjoyed the convenience of purchasing MTN Bushfire tickets using it this year’.
“It is convenient to the businesses and the customers, I would like to implore all of us to support the businesses on the MoMo Marketplace platform as it is simple and shall minimise costs to access services for Mobile Money customers, thus fully obtaining the value for their money,” she said.
She further appreciated Orchard and MTN FinTech teams for a job well done in delivering this solution and partnership, which seeks to simplify premium remittance and increase accessibility of insurance products. The product can be accessed on WhatsApp on 7808 400.
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