Econet Wireless ventures into car insurance

Published: 30 January 2018

LEADING telecommunications company, Econet Wireless Zimbabwe has ventured into car insurance business to provide road traffic accident cover and comprehensive cover for vehicles.

The firm said its insurance called iDriveSure, is a product that comes with three packages which include the third party, comprehensive standard and comprehensive plus.

"It is unique and appealing because of the added benefits which include free airtime (road traffic accident) only, roadside assistance and vehicle tracking services," it said.

Premiums are pegged at $35.60 for third party insurance and 4.5 percent of motor vehicle book value for comprehensive cover.

Econet added that iDrivesure product was supported by EcoSure, Steward Bank and Econet connected car in partnership with Tib insurance brokers.

Econet said customers can pay for their cover using EcoCash, cash or Zimswitch-enabled bank cards.

It said iDriveSure also allows one to pay for Zimbabwe National Road Administration (Zinara) fees, Zimbabwe Broadcasting Corporation (ZBC) licence fees and all other vehicle insurance at any Econet shop or Steward bank branch.

Econet has over the years diversified its business and is now offering a number of schemes tailor-made for the different sections of society.

The iDriveSure product will be the second insurance product from Econet Wireless coming after the EcoSure funeral scheme launched in 2014.

Last year Econet combined its EcoSure and EcoCash services for the convenience of its customers.

In 2013, Econet developed a weather-indexed drought insurance cover for smallholder farmers making it easy for them to make financial claims if their crops fail as a result of uncertainties such as drought.

The telecommunications firm through its FinTech and non-telecommunication business units also provides a number of products and services.
- zimpapers

Tags: Econet,