Telecoms giant Globacom has launched an affordable mobile phone insurance service that covers screen and water damage, with daily premiums starting at just N50. The service, developed in partnership with technology firm Cubecover, is the first of its kind in Nigeria.
Available to both new and existing Glo subscribers, the plan provides protection worth up to N50,000 for screen repairs or replacements, depending on the extent of the damage. Coverage activates only after 30 consecutive days of active subscription.
How the device protection service works
Globacom’s Head of Value Added Services, Mojeed Aluko, stated that, depending on the extent of the damage, subscribers are eligible for free screen replacements or repairs up to N50,000. However, the protection doesn’t start until a customer keeps their subscription active for 30 days in a row.
“For as low as N50 daily, N300 weekly, or N600 monthly, our customers can access meaningful protection that helps them stay connected even when accidents happen,” Aluko said.
To activate the insurance, users must dial *70131# and select a preferred subscription plan. New customers can enroll by purchasing a Glo SIM and device at any Gloworld retail outlet. Subscription fees are deducted from airtime, either one-time or automatically.
After payment, subscribers receive a link to perform a diagnostic test on their phone. If the device passes inspection, its IMEI number is registered with Cubecover to finalise enrollment.
Device protection service to reduce high cost of phone repairs
According to Deji Macaulay, managing director of Cubecover, the collaboration will help consumers who are worried about the high expense of phone repairs.
“This service is unique because of its simple enrolment process, affordable micro-premiums, and fast verification technology. It offers real peace of mind to millions of Nigerians,” he said.
Globacom defined the offering as a technologically enabled innovation that aims to improve device longevity, facilitate seamless connectivity for consumers, and lessen the financial burden of unplanned phone damage.
Glo’s partnership with Wave5 to provide data connectivity in densely populated areas
To reduce mobile network congestion and enhance data connectivity for users in densely populated areas, Techpression reported that telecommunications company Globacom teamed up with Nigerian public Wi-Fi infrastructure provider Wave5 Wireless to pilot an urban Wi-Fi offload project in Lagos.
In a joint statement released on July 13, the companies revealed that the partnership uses a Build-Operate-Revenue Share model, which enables it to smoothly offload 3G and 4G traffic from Glo’s mobile network onto Wave5’s Wi-Fi infrastructure.
The service, which has the potential to serve over 200,000 mobile users, will be implemented during the pilot phase in strategic locations like the Tejuosho and Arena markets and 15 LAMATA bus shelters throughout Lagos.
Both companies claim that the service will have reasonable daily access fees beginning at N500, supporting roughly three hours of use over 200 days a year, with an estimated recurring revenue of $7.2 million.