Safaricom’s M-PESA and Nyala Insurance S.C. (NISCO) have partnered to provide the Ethiopian insurance industry with secure, seamless and convenient mobile payment solutions at the Memorandum of Understanding ceremony, held at the M-Pesa office on Friday.
This partnership will enable NISCO’s customers to use M-PESA’s digital solution platform to expedite seamless premium payments, policy renewals, and other insurance-related transactions.
Read also: Safaricom brings high-speed Internet to Gambella with 4G launch
Furthermore, Nyala Insurance may reach a larger consumer base by streamlining its payment procedures with real-time transaction processing.
By encouraging financial inclusion and fostering the expansion of the digital economy, the collaboration also advances the objectives of Digital Ethiopia.
Safaricom, Nyala Insurance S.C. expresses their optimism
Ato Tegegn Masresha, Nyala Insurance’s Chief Customer Officer, said during the MOU signing event that NISCO’s insurance service operations will be enhanced by the partnership with Safaricom M-Pesa by providing more flexible options.
“This collaboration allows us to deliver unparalleled convenience to our customers, enabling them to access our services seamlessly and securely through M-PESA,” Masresha said.
“By leveraging this partnership, we will reinforce our commitment to innovate and enhance customer satisfaction by making insurance transactions simpler and more efficient,” he stated.
Read also: Fresh crisis erupts between Genghis Capital and Safaricom over M-Pesa-backed unit trusts
Safaricom emphasised the need to propel the growth of digital financial services in Ethiopia by working with Nyala Insurance, providing clients with a more effective and convenient method of handling their insurance payments.
Elsa Muzzolini, Safaricom M-PESA’s Chief Digital Financial Services Officer, highlighted the significance of the collaboration, stating, “Our commitment to supporting Ethiopia’s digital economy is evident through providing businesses like Nyala Insurance with the necessary digital tools to enhance customer connections.”
The growth and use of digital platforms is currently NISCO’s top priority to improve the effectiveness and client convenience of its services. In the Ethiopian insurance market, the insurance company also leads in providing smartphone insurance services.