Nyala introduces insurance for smart phones

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(Photo: Anteneh Aklilu)

Nyala Insurance introduces a new insurance line called ‘Le-mobile’ which is the first mobile insurance in Ethiopia.
In collaboration with Ethio telecom and SZM Engineering PLC, Nyala Insurance has launched the first of its kind insurance product in Ethiopia.
The new insurance product is designed to protect hand held mobile phones and the product will be sold digitally in partnership with Ethio telecom and SZM Engineering. By effecting a premium payment of one birr to one birr and fifty cents based on package selected per day, any smart phone user can enter in to a contract with Nyala Insurance just by sending an ‘ok’ text message via 813. Direct premium payment will be from Ethio telecom airtime.
Nyala mobile insurance is said to provide cover for screen damages, mobile phones lost because of theft or any other related reasons.

(Photo: Anteneh Aklilu)

Tegene Masresha, executive officer of marketing and business development of Nyala Insurance said after conducting a rigorous feasibility study towards the applicability and viability of the product, the company delved into the product to become the pioneer to launch such kind of an insurance product in the Ethiopian market.
As he stated the policy is systematically designed to effectively meet the growing needs and demands of customers.
The policy is therefore expected to give the much needed relief for a number of smart phone users across the nation with an insignificant daily premium payment.
In order to give the insurance cover to all the smart phone apparatuses, Nyala Insurance has collaborated with Ethio telecom’s data base through media platforms.
The service is fully self-serviced by Nyala, in which users can purchase insurance by downloading Nyala mobile insurance application and when accident ensues one can claim via three options; one directly through the Nyala mobile insurance website, the second through the Nyala partners mobile vending and repair up store and lastly through direct calling the Nyala call centers.

(Photo: Anteneh Aklilu)

According to Nyala insurance, customers can also get similar replacement for the stolen or damaged smartphone model device.
As Tegene claimed, the new product will be a strategy to stay competitive and in order to outreach their customers enhancing insurance service through continuous product development efforts.
It is to be recalled that the 25 years old Nyala was the pioneer to introduce Micro insurance and political violence insurance.
According to Ethio Telecom, the sole telecom service provider, there are currently 64 million connected devices on its network of which 32 percent of it is smart phones.
Android has by far the largest share of the mobile operating system market in Ethiopia, being used in over 90 percent of the smartphones in the country while the share of Apple’s iOS in the Ethiopian market only amounts to 5.73 percent.