Motor vehicle owners will have another player in the insurance market to ease the pain of securing an insurance package that meets their custom needs. Dubbed Next Taxi Insurance, the plan, as its name suggests, targets taxis and car owners in general.
The product is devised under the partnership of Resolution Insurance and Insure Afrika.
The KES 2 billion market is admittedly seeing significant gains for the past couple of years as companies embrace digital products to ease adoption for the masses.
While Next Taxi sounds futuristic by focusing on online access, its features are not entirely new. At the launch event, the group demonstrated a use-friendly sign up process that is online-based that we are kind of used to now. However, this needs tech-savvy people, which is seldomly the case with our ageing parents or people who are not good at computers. In fact, simple activities such as viewing a quote need a couple of clicks on the Internet.
It also takes on local payment methods including Safaricom’s M-PESA (no, Airtel Money isn’t available, yet), which is more of a necessity than an ’innovative’ feature for a business that needs to survive in the Kenyan market.
“Innovation is inevitable in our growing Insurance industry and we as Resolution Insurance are making strides in making it easier to have access to fast and reliable insurance solutions from the comfort of their desired location,” said Resolution Insurance Managing Director Ms. Alice Mwai during the launch event held at the Stanley Hotel in Nairobi.
“We are bringing insurance closer to the customer and with a few clicks, taxi owners and drivers will be able to finish up with their insurance purchase or renewal within a matter of minutes. This new product will change how insurance works by bringing in the aspect of digitized insurance solutions that increase efficiency for the driver and owners while making the insurance processes more seamless and paperless for all parties involved,” added Insure Afrika Founder and C.E.O., Gagan Hayer
Perhaps the most effective niche Next Taxi can use to score points over competitors is claim repayment, which is notably slow for motor vehicle owners who have had the chance to deal with slow processes and frustrations fronted by traditional insurance companies. Another aspect it can exploit to win the hearts of motorists is dependable customer care experience that claims 24-hour support that we hope will address clarifications in case the online platform is unresponsive or unsatisfactory.
Lastly is the ability for a driver to customize premiums based on their needs, and what they can afford to pay for, including road rescue charges, political violence and terrorism, among others. It is an extra feature that future Next Taxi users will appreciate owing to the discomfort of being locked in a rigid plan.