Netone launches OneCover, a Funeral micro- mobile insurance product

Netone launches OneCover, a Funeral micro- mobile insurance product

Insurance24 Reporter

HARARE, Mobile network company Netone has unveiled an affordable micro mobile insurance OneCover that offers Funeral insurance to its subscribers.

The product offer according to acting chief executive officer Brian Mutandiro is underwritten by First Mutual Life.

“OneCover seeks to drive inclusion through affordable plans, ease access, leveraging on the reputation and the market share of Netone Cellular. The user experience is 100% mobile, from sign-up to claims initiation,” Mutandiro said at the launch of the product.

OneCover is a voluntary opt-in service which will be available to any NetOne prepaid and post paid subscribers who will register through a self-assisted USSD *404#, SMS 404 and mobile insurance App.
“Subscribers will have the privilege to add on their dependents so that the cover caters for everyone including the senior citizens,” he said.

Mutandiro said OneCover premiums and claims payments will be made via Mobile Financial Service platform.

Premiums will be deducted automatically from subscriber’s wallet and in the event that one doesn’t have sufficient funds in his account, a reminder will be send to notify the policy holder that the premium is due.

“Like any other insurance, OneCover has a waiting period, were except for accidental death, the waiting period for all plans will be three months on the Main Life assured.”

Accordingly, there shall be 6 months waiting period on other adult dependants, non-biological children, biological children above 23 years age attained and subsequent spouses.

Subscribers will enjoy a leeway of either upgrading or downgrading the cover/plan through the manage policy option.

According to Mutandiro, Netone and FML call centres which operates 24hrs will assist on claims. In another development, Netone also introduced OneTech which is a scheme for existing and prospective subscribers and is bankrolled by BancEasy, a subsidiary of BancABC to the tune of $10 mln.

Under this scheme, Netone customers will have an option to choose from a variety of smartphones from reputable international brands like Apple, Samsung, Huawei, Nokia, Alcatel, ZTE and Lenovo.

“To buy a smartphone, customers will get a loan from BancEasy which they will use to pay for the device,” Mutandiro said.

The devices will; come with complimentary free OneFusion airtime for 12 months with customers getting a maximum of OneFusion $20- per month, depending on the device one choses to purchase.