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Insurers want to leverage on mobile money

06 November 2012, 09:57

Nairobi - Insurers are urging mobile phone companies to harmonize their services so that Kenyans can use mobile money products across all networks and promote number portability to increase the distribution of insurance products.

Mobile number portability (MNP) enables mobile telephone users to retain their mobile telephone numbers when changing from one mobile network operator to another and CIC Life Assurance Managing Director David Ronoh said MNP could enhance access to micro-insurance products by the low income market.

According to Capital News, Ronoh believes that M-Bima leverages on mobile money technology for distribution of the Insurance products, premium collection and agents commission payments as well as facilitates other policy administration processes.

- For more visit Capital News


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