Kenya Orient launches mobile insurance product with sign up via sms

smartphone security

smartphone security

Kenyan innovations are increasingly being driven by mobile. Mobile is the device that the largest population in Kenya is able to interact with. SMS is also a feature that reaches out wide and clear. That’s why it’s quite a fete when an insurance company launches a mobile insurance cover that will be activated by SMS.

“As the non-life segment moves beyond motor insurance, we are looking beyond the usual product avenues to give Kenyans compelling affordable and convenient solutions as well as deepen the penetration of insurance in the country,” said Kenya Orient Managing Director, Mr Muema Muindi.

Kenya Orient launched this insurance product that is activated by sending an SMS to code 70707 and is tied to the GSM SIM card. The subscriber then gets an SMS with a link to the Kenya Orient Mobile site, then they complete the sign up process.

The devices are then registered using the same National ID or Passport number that the SIM  card is registered with. Each device gets a unique policy number which will have premiums as low as Kshs 999 a year. Standard rates for SMS apply.

“KOIL uses state-of-the-art technology to confirm the details of your device and calculates an insurance value based on the make, model and year of purchase of the device. Additionally, the insurance value also takes into account the expected depreciation of the device over the next 12 months. Therefore the insurance value will always be lower than the retail price of the device at the time you are taking up the policy,” said Mr Muindi, who urged Kenyans to take advantage of the cover in droves.

The sign-up process to the product named Orient Mobile is done using the device to be insured. DR. Fred Matiang’i , the ICT Cabinet Secretary for Kenya was elated that the transaction was paperless and entreprenurs are using ICTs to make business easier.

“I can comfortably say that Orient Mobile is part of the attainment of Vision 2030 and I do believe that it will stir the insurance industry, creating a vibrant and competitive environment, paving way for competitive products whose innovation will be based on the IT Platform.,” said Dr Matiang’i.