Airtel Africa Partners With MicroEnsure to offer Mobile Micro Insurance to Africans

09:30:00


Airtel recently announced a strategic partnership with MicroEnsure, the world’s leading provider of mass market insurance products. Through the partnership, MicroEnsure will provide insurance services to Airtel’s customers in Africa.

Mobile network operators in Africa have identified the growing demand for financial services, and micro insurance – a form of insurance designed specifically for low-and-middle income consumers – is no exception.  According to a study published by Making Finance Work for Africa, from 2010 to 2012 micro insurance grew more than 200% on the continent.  Even so, fewer than 20 million Africans outside South Africa have any form of micro insurance, less than 5% of the potential 400 million customers in sub-Saharan Africa.

The investment makes Airtel the first mobile network operator in Africa to offer an insurance product to its customer base. The insurance package will include a range of insurance products including life, accident, health, agriculture and other forms of insurance.

According to Andre Beyers, Chief Marketing Officer for Airtel Africa, “In many of our markets, less than 5% of our customers have any formal insurance products and there is demand for insurance offerings that are simple, affordable and reliable.  Our partnership with MicroEnsure will deepen our value added services to our customers and provide access to insurance.”

Peter Gross, Regional Director of Africa for MicroEnsure, said:  “With Airtel’s initiative to prioritize insurance in its product portfolio, insurance in Africa will change forever. The peace of mind that Airtel subscribers will have through insurance will support Airtel’s aspiration to be the most loved brand in Africa.”

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