Despite insurance uptake doubling from 2009 to 2013, it is still one of the least utilised services in Tanzania. By bringing insurance services into the M-PESA portfolio, Vodacom Tanzania is able to remove the barriers to these products, making it easier for customers to access services.
VodaBima enables customers to save up for insurance throughout the year. The customer will be sent an alert when the vehicle insurance is about to expire. VodaBima will begin with vehicle insurance and expand to other types of insurance as it evolves.
M-Commerce Director for Vodacom Tanzania, Epimack Mbeteni said, “Vodacom aims to bridge the gap of access to insurance services by offering a digital solution that will cut down costs and increase access to insurance products.”
Vodacom M-Commerce Director, Epimack Mbeteni (Centre) flanked with the Chief Executive Officer of Britam Tanzania Raymond Komanga (Left) and Director of Marketing and Research at the Tanzania Insurance Regulatory Authority (TIRA) raising placards to symbolise the launch of a newly VodaBima service in Dar es Salaam. Courtesy of Vodacom Tanzania.
Through this new service, VodaBima is leveraging M-PESA’s technology infrastructure and network, making insurance products more accessible and is a part of Vodacom’s digitisation agenda to bring services closer to customers through mobile innovation and technology.
Vodacom Tanzania is Tanzania’s leading mobile operator and financial services provider, with over 14.1 million customers. M-PESA was first introduced to Tanzania 13 years ago and is now Tanzania’s largest mobile financial service, with over 12 million customers.
M-PESA, originating from a joint venture with Vodafone, the British government and Safaricom, allows customers to deposit and withdraw money from their M-PESA wallet through over 106,000 agents across Tanzania alone. The M-PESA ecosystem connects businesses, banks and government agencies making digital payments possible and encouraging financial inclusion across the continent.
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