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| picture courtesy of EcoSure |
Econet Wireless is well known for new products in the telecoms services.Econet seemed to venture in everything from money, remittances to cars and water.
Towards the end of last year, Econet Wireless launched EcoSure, the mobile insurance product that took the place of a similar but failed Ecolife.
Two months later, we’ve been
told by Econet that EcoSure has registered over 1 million users, an
uptake that translates to 150,000 new users every week. It’s a
faster uptake than what Ecolife was registering in its first half
year back in 2011(1.6 million in 7 months). These are impressive
numbers, so what’s the secret behind this?
EcoSure auto-debitIt’s a
no-brainer. Micro-insurance products that ride on the extensive reach
of mobile telecoms are an awesome idea. EcoSure is solving a real
problem, addressing a huge market and they have figured out dynamics
like pricing.
 |
| picture courtesy of techzim |
Most Econet subscribers say they were involuntarily “signed
up” for the service and had to find out from the mobile network why they had received a notification telling them that they had to keep my
EcoCash wallet funded with $1 every month for the EcoSure auto-debit
facility to work.
Why should something that has
an auto-debit facility be automatically pushed onto subscribers
anyway?
You can read the statement from Econet regarding their million user milestone below.
EcoSure hits 1 million
users
Econet has once again
scored a new blockbuster service to follow in the footsteps of
EcoCash. In just two months, the company’s insurance service,
EcoSure, has registered over one million new customers.
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
See more at:
http://www.techzim.co.zw
conet
has once again scored a new blockbuster service to follow in the
footsteps of EcoCash. In just two months, the company’s insurance
service, EcoSure, has registered over one million new customers.
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpufconet has once again scored a new blockbuster service to follow in the footsteps of EcoCash. In just two months, the company’s insurance service, EcoSure, has registered over one million new customers.
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpuf
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpufconet has once again scored a new blockbuster service to follow in the footsteps of EcoCash. In just two months, the company’s insurance service, EcoSure, has registered over one million new customers.
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpuf
conet
has once again scored a new blockbuster service to follow in the
footsteps of EcoCash. In just two months, the company’s insurance
service, EcoSure, has registered over one million new customers.
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpuf
EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless CEO Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mr Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of $500 to $5 per month for a pay-out of $5 000, the most popular package is the $1 per month, which has a pay-out of $1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.
- See more at: http://www.techzim.co.zw/2015/03/a-million-sign-ups-in-two-months-how-is-ecosure-growing-so-fast/#sthash.zO0NiwU7.dpuf
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