FBC Launches Digital Third Party Insurance Service

FBC Insurance Company has launched a digital third party insurance called “Yako”.

The service allows vehicle owners to purchase a secure and affordable instant third party insurance service for vehicles using either a basic feature phone or a smartphone.

Acting Head-FBC Group Marketing Roy Nyakunuwa said the service brings convenience, accessibility and reliability to customers.

“Yako” is a brand new USSD based digital insurance on-boarding product which allows anyone to purchase Third Party Motor Insurance instantly using a mobile device,”

“As part of FBC Group’s digital transformation and innovation drive, this is a breakthrough product in our market which brings convenience, security and comfort to the motoring public, allowing them to purchase Third Party Motor Insurance instantly using the mobile wallets of all the Mobile Network Operator Channels (i.e Telecash, OneMoney and Ecocash) as well as the ZIPIT platform.”

The platform will bring less hustle to clients who do not have visit a branch to submit identity documents, s as they insure their vehicles
in the comfort of their homes or offices.

“To access the Digital Insurance service, anyone can dial *220# wherein they have an option to choose between Banking Services and Insurance Services. When signing up to register, one must select Option 2 (Insurance
Services) to access the Insurance platform. They then select the “Third Party” option and proceed with the instructions,” added Nyakunuwa.

Insurance cover is for a minimum period of 4 months or one term but can be purchased for the entire year. The vehicles that qualify for this platform are registered vehicles in Zimbabwe which are not exempt from paying third party insurance. They should have a minimum value of ZWL$ 10,000 third party liability.

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