Users of MTN Uganda may now purchase insurance from aYo in the form of life or hospital coverage using their MTN Senkyu reward points.
MTN Uganda is making it easier for more people to get insurance coverage through their loyalty program, which rewards people who use MTN services often. It is noteworthy because it will benefit those in the health and life insurance industries for the first time.
MTN’s Partnership with the Insurance Company
aYo is an insurance company that provides an easy way to get hospital and life cover. Register on your mobile phone for aYo Recharge with Care and get a minimum of 30 days’ aYo Cover every time you load MTN airtime. You can also add aYo Send with Care cover to the money you send home through MTN Mobile Money.
It is quick, convenient, and simple to use. In the past five years, the company has signed up 16 million consumers throughout the African continent and markets where it operates.
With this new addition to MTN Uganda’s already popular loyalty program, more people will be able to get insurance. Users who sign up for aYo Insurance through the MTN Senkyu Loyalty program are guaranteed that aYo will cover their medical expenses in the case of an emergency or accident. aYo also provides financial support to the departed person’s family in the event of their death.
Susan Kayemba, the senior manager of digital services for MTN Uganda, announced the new development and stated that it is just another example of MTN’s dedication to providing its consumers with the upsides of a digitally connected life.
Allan Lwanga, the CEO of aYo Uganda, says that insurance coverage effectively promotes financial inclusion because it gives regular Ugandans a social safety net that helps them get back on their feet after unplanned crises.
Lwanga continues. We’ve always thought that insurance in Uganda should be available to everyone and simple to use. We will be able to reach even more people by enabling users to purchase aYo insurance using Senkyu at a time when more and more Ugandan users are purchasing the insurance to safeguard themselves and their families in the event of hospitalization or fatality.
Solomon Rubondo, a former official with the Insurance Brokers Association of Uganda, told the media that aYo and MTN had simplified the idea of insurance.
He also said, “I applaud MTN and aYo for tackling the intangibility of insurance and making it possible for more people who could not get it before.” Let’s see more developments like this in insurance. Let’s domesticate insurance even further.
The Director of Supervision for the Insurance Regulatory Authority, Bernard Obera, liked what MTN and aYo did. He advised insurers to use innovations to provide insurance services to more individuals.
Read also: aYo Ghana CEO Assumes Pan-African Role To Accelerate Growth
How aYo Senkyu works
To access this service, customers can dial *141# or use the MyMTN App to register and subscribe to this option. Customers who sign up for aYo through Senkyu will get 75 points taken out of their wallets each month for the next six months. They will be offered insurance worth UGX 90,000 for aYo MyLife Cover and UGX 120,000 for aYo MyHospital Cover that covers accidents during this period.
In MTN Senkyu’s aYo menu item, users can:
- Activate and redeem points for aYo cover.
- Cancel subscription
- View the expiry date of their aYo cover.
- Add, view, or remove beneficiaries.
By dialling the aYo USSD code (*296#), eligible users can claim their insurance coverage. After verification, their pay-out is deposited into their MTN MoMo account.
Customers who use MTN and MTN MoMo receive points. Customers get extra points on their birthdays and the anniversary of when they joined MTN. The points earned can be redeemed for aYo insurance, minutes, MBs, SMS, or by using MTN MoMoPay to purchase goods and services. If points are not redeemed after 90 days, they will expire.