TNM says it has paid out over K115 million worth of life insurance claims under its Moyo Cover Plus Insurance available to customers registered on its mobile money-transfer service, Mpamba.
TNM’s Chief Commercial Officer, Daniel Makata, confirmed in an interview that the total of K115 million has been paid to 500 people since September 2013 when the service was launched.
“I am happy to report that the service has been very successful in achieving the set purpose of assisting customers to access life Insurance cover which they use to offset various expenses and in some cases investing for surviving family members,” said Makata.
While hitherto TNM Moyo Cover was limited to life insurance, recent additions to the product now brings more value to TNM subscribers as it also entitles individuals to accidental permanent disability and hospitalisation insurance cover.
“We settle all claims within 72 hours,” he said.
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