Orange Kenya and CIC Insurance group have partnered to launch a mobile based insurance product dubbed Orange Bima that will allow subscribers to insure their mobile devices up to Kshs 40,000 as well as sign-up for a life cover of up-to Kshs 100,000. Orange Bima offers affordable daily premium payments of just Kshs 1 which is deducted from airtime credit. In other terms, it costs as little as sending a text message from your device, most mobile service providers in the country charge around the same amount for sending a text message within their network.
Speaking on the development on behalf of Orange Kenya’s CEO Mr. Mickael Ghossein, Orange Kenya’s Chief Business Marketing Officer Mireille El Helou said Orange Bima added convenience in the insurance sector by allowing flexible and timely premium payments. The product was strategic in the company’s effort to increase the overall insurance penetration in Kenya, Mireille added.
“Insurance policies are vital in solutions that help cover risk, they save subscribers on substantial amounts of money in the event of unforeseen occurrences. Orange Kenya was therefore keen on playing its part when it comes to the use of mobile devices by subscribers. Orange Bima will cover the device against all risks, said Ghossein.
On his part, the managing Director of CIC Insurance Mr. Nelson Kuria said the partnership will help boost insurance penetration, especially in the life insurance segment.
Kuria also added that companies in the insurance segment were ready and willing to appreciate support from other likeminded corporate players to bolster the insurance uptake in the country. At CIC Group, they were pleased that Orange had opened up its subscriber base to CIC so that they would offer their life cover product at very competitive rates.
How to use Orange Bima Service
To get a life cover from CIC Insurance, subscribers can use the following USSD Code: *242#, and then follow instructions. This ensures the service is fully flexible and can be accessed anywhere be it at home or office and offers a wide range of premium payment periods ranging from daily, weekly to monthly deductions from airtime credit. Kuria also pointed out that CIC Insurance wanted to tap into opportunities offered by rapid growth in the telecommunications sector to widen its market share through its mobile premium payment platform dubbed “CIC M-Bima”, by targeting mobile subscribers.
Orange Bima will cover Orange mobile subscriber’s devices as well as offer life cover to those who purchase devices from Orange shops from August 5th, 2014. The policy insures the device against all risks and a life cover against accidental death, and customers will have a choice of either Silver, Gold or Platinum insurance covers, attracting annual premiums of Kshs 365, Kshs 1,000 and Kshs 2,000 respectively.
The life cover is however open to all Orange mobile subscribers, insuring against accidental or natural death, with the choice of Diamond, Platinum and Infinity plans. Annual premium for the Diamond cover will be Kshs 240, Kshs 600 for Platinum and Kshs 800 for the Infinity cover. To register for any of the covers, subscribers will be required to dial *242#.
Using the new cover, subscribers can also insure up to 2 devices. To claim your device +life cover, please visit your closest Orange shop with any necessary documentation. For Life cover only, they can be made at any CIC Insurance branch
The subscribers can as well change their payment plan between daily, weekly and monthly at any time by dialling *242# and following the on screen instructions to manage their account.