Press Release date:3/26/2013
Kampala, Uganda – 25th March 2013
MTN Uganda launches Mobile Money Premium Payment Mode and Home Delivery Service with Insurance Company of East Africa (ICEA)
On 21st March, 2013 the Insurance Company of East Africa (ICEA) launched the Mobile Money Premium Payment Mode and Home delivery service.
The Insurance Company of East Africa (ICEA) was established in November 1964 through a merger of three companies namely Eagle Star Insurance Company of UK, Welfare Insurance Company of and New Zealand Insurance Company. The Insurance asset base for the ICEA Group is in excess of US$ 300 million making it the highest capitalized Insurance business in the market
ICEA provides services to over 30 major organisations in Uganda and thus has a high reputation both locally and internationally.
Through a partnership with ICEA, MTN Uganda launched the first Mobile Money insurance premium payment platform in Uganda in February, 2012. Through this partnership ICEA clients would be able to channel their insurance premiums through the MTN Mobile Money service.
The Chief Executive Officer of ICEA said, ”We thank MTN Uganda for the partnership they signed with us last year. MTN took a bold decision to partner with an insurance company to provide a payment platform when no one else was willing to venture into the unknown. Insurance is increasingly becoming an area of focus for Ugandans and we are pleased that this has been further facilitated by MTN through its Mobile Money service”.
At the press launch of the Mobile Money Premium Payment Mode and Home Delivery Service, the Chief Executive Officer of Insurance Regulatory Authority, Mr. Kadunabi Lubega applauded MTN for the continued innovations that are relevant to the public and encouraged other companies in the industry to follow suit in adoption of technological solutions to serve their customers better.
The MTN Uganda Chief Marketing Officer Ernst Fonternel emphasized MTN Uganda’s commitment to continue focusing on improving the customer experience by providing user relevant products and services.
“At MTN we are committed to continuous innovation to meet the different needs of our customers. Bulk payment solutions are now available for insurance customers using the MTN Mobile Money platform. We encourage insurance companies to adopt the same for disbursements of their customers’ claims,” Fonternel explained.
This will go a long way in making insurance services more accessible for customers that work and live far from Kampala. This service is now available to the close to 100,000 potential insurance customers and the over 7.7million customers found on the MTN network; the benefits are exponential.
With more than 20 million transactions each month the MTN Uganda Mobile Money service now contributes meaningfully to MTN Uganda’s revenue. As per the GSMA 2012 Global Mobile Money Adoption survey, MTN Uganda ranks 2nd in terms number of active Mobile Money customer accounts. These positive indicators confirm that MTN Mobile Money service is the most secure and efficient system in Uganda. We guarantee our customers that MTN Mobile money service is reliable and safe. During the last 12 months, MTN has continuously improved its internal controls and deployed new features to ensure that all its systems and applications remain safe and reliable for MTN Mobile Money customers.
Currently the MTN Mobile Money service provides access to perform the most popular financial transactions that the ordinary Ugandan requires. This includes purchase of airtime, school fees payment, TV subscriptions, purchase of goods and services, payment of water and electricity bills, payment of salaries and secure money transfer from one account to another, just to mention a few. Through a partnership with Western Union, MTN subscribers registered for Mobile Money can send and receive Western Union Money Transfer transactions in their mobile accounts from 450,000 locations in 20 countries around the world- this is another first from MTN Uganda.
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Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 31 December 2012, MTN recorded almost 190 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at www.mtn.com and www.mtnfootball.com