MFS Africa has launched Zem Aussur – a mobile insurance product for drivers of motorcycle taxis, known as zémidjans.
MFS Africa is a leader in providing mobile financial services across the African continent to un- and under-banked individuals.
This was MFS Africa’s joint venture with its partners MTN Benin and Nouvelle Société Interafricaine d'Assurance (Group NSIA).
“Like motorcycle taxis throughout Africa, Cotonou’s over 140,000 zémidjans, or ‘zems’, are an integral part of the transportation industry, providing thousands of commuters with convenient connections in and around cities,” read the group's statement.
“Organised but often unregulated and informal, the entrepreneurial transport providers face similar challenges: long hours, sub-standard road infrastructure, high traffic congestion, over loading, demanding clients and – until now – no health insurance.”
Zem Assur, a unique, affordable, and accessible mobile insurance service, covers zem drivers’ medical and pharmacy expenses, permanent disability, and death resulting from road accidents.
Customers sign up for Zem Assur coverage via their mobile phones by entering a simple USSD code, and pay only 5000 FCFA for one year of coverage.
According the group, premiums are collected directly from the client’s MTN Mobile Money account. The product is available to any MTN Mobile Money account holder aged 18-65.
“Benin is my home,” said MFS Africa chief executive Dare Okoudjou.
“The zem drivers are the life blood of our cities, and we are proud to provide them with the peace of mind that comes with Zem Assur. Our objective is to provide simple, relevant solutions for African consumers using the power of mobile phones, and Zem Assur is an exciting new addition to our product portfolio, he added.
Alain Lath Houngue, chief executive of NSIA Insurance said as a leading and trusted bank and insurance company across Africa, NSIA were proud to bring Zem Assur to its customers.
“Your ability to earn an income is our most important asset. Accident, illness and disability cover are critical to zemidjan drivers’ livelihoods and those of their families. With Zem Assur, we are extending the promise of NSIA quality coverage and care to even more Beninois,” added Houngue.
Brice Houndonougbo, head of Mobile Money at MTN Benin, is thrilled with the development.
“This product is the culmination of a good partnership between us, NSIA and MFS Africa. MTN Benin always strives to bring products that add value to our customers,” he said.
“Through Zem Assur, we can bring affordable mobile services to Zem drivers, it is reassuring to them and their families to know that they are covered while they work. Our mobile services are bringing prosperity to our customers.”
“Zem Assur is a testament of African innovation, a demonstration of what we can achieve when we collaborate to solve African challenges.”