Benin: MFS launches mobile insurance for cyclists
MFS Africa has launched Zem Aussur – a mobile insurance product for drivers of motorcycle taxis, known as zémidjans.
MFS Africa is a leader in providing mobile financial services across the African continent to un- and under-banked individuals.
This was MFS Africa’s joint venture with its partners MTN Benin and Nouvelle Société Interafricaine d'Assurance (Group NSIA).
“Like motorcycle taxis throughout Africa, Cotonou’s over 140,000 zémidjans, or ‘zems’, are an integral part of the transportation industry, providing thousands of commuters with convenient connections in and around cities,” read the group's statement.
“Organised but often unregulated and informal, the entrepreneurial transport providers face similar challenges: long hours, sub-standard road infrastructure, high traffic congestion, over loading, demanding clients and – until now – no health insurance.”
Zem Assur, a unique, affordable, and accessible mobile insurance service, covers zem drivers’ medical and pharmacy expenses, permanent disability, and death resulting from road accidents.
Customers sign up for Zem Assur coverage via their mobile phones by entering a simple USSD code, and pay only 5000 FCFA for one year of coverage.
According the group, premiums are collected directly from the client’s MTN Mobile Money account. The product is available to any MTN Mobile Money account holder aged 18-65.
Source: CNBC Africa 7 December 2014