FBC Insurance Company is proud to announce the launch of “yako”(an innovative, game changing and fully digital third party insurance service) which will change the face of insurance in Zimbabwe. The innovative and world-class service, which is now available on the market, allows vehicle owners to purchase a secure and affordable instant third party insurance service for private cars, commercial vehicles, buses, motorcycles, trucks, trailers and caravans, using a basic feature phone (kambudzi) or smartphone.
Announcing the development, Roy Nyakunuwa (Acting Head-FBC Group Marketing) said, “We are thrilled to announce the launch of a convenient, accessible, reliable , affordable and secure third party insurance service called “yako” today, Monday 27 January 2020. “yako” is a brand new USSD based digital insurance on-boarding product which allows anyone to purchase Third Party Motor Insurance instantly using a mobile device (phone, tablet etc).
As part of FBC Group’s digital transformation and innovation drive, this is a breakthrough product in our market which brings convenience, security and comfort to the motoring public, allowing them to purchase Third Party Motor Insurance instantly using the mobile wallets of all the Mobile Network Operator Channels (i.e Telecash, OneMoney and Ecocash) as well as the ZIPIT platform.”
“This does away with the need for clients to visit a branch physically to submit identity documents, bringing convenience to the clients as they insure their vehicles in the comfort of their homes or offices. The product is for everyone with a vehicle registered in Zimbabwe.
To access the Digital Insurance service, anyone can dial *220# wherein they have an option to choose between Banking Services and Insurance Services. When signing up to register, one must select Option 2 (Insurance Services) to access the Insurance platform. They then select the “Third Party” option and proceed with the instructions,” added Roy Nyakunuwa.
Insurance cover is for a minimum period of 4 months or one term but can be purchased for the entire year. The vehicles that qualify for this platform are registered vehicles in Zimbabwe which are not exempt from paying third party insurance. They should have a minimum value of ZWL$ 10,000 third party liability. The product comes with a considerable number of exciting benefits for the motoring public. Clients will enjoy priceless convenience through purchasing instant insurance
anywhere and anytime by dialling *220#. It is also cost effective for the clients because it eliminates the expenses of travelling to a physical insurance provider’s shop and the fatigue of waiting in long queues.
FBC Insurance Company is a short term insurance subsidiary of the FBC Holdings Group (a diversified financial services powerhouse). It is a leading local insurance company which takes pride in having more than fifty one (51) years of experience in offering customer-focused insurance services.
It aims to be a market leader in creating stakeholder value in the Zimbabwean insurance industry and providing world-class insurance solutions that meet the needs of its customers. FBC Insurance is the local insurer of the future, having fully embraced world-class technology and digitalisation in its operations.
Issued on 27 January 2020