FBC Insurance Company has announced the launch of “yako” which they are positioning as “an innovative, game-changing and fully digital third party insurance service which will change the face of insurance in Zimbabwe.”
Yako which is now available on the market, allows vehicle owners to purchase an instant third party insurance service for private cars, commercial vehicles, buses, motorcycles, trucks, trailers and caravans, using a basic feature phone (kambudzi) or smartphone.
Announcing the development, Roy Nyakunuwa (Acting Head-FBC Group Marketing) was pretty excited by the new offering:
“yako” is a brand new USSD based digital insurance on-boarding product which allows anyone to purchase Third Party Motor Insurance instantly using a mobile device (phone, tablet etc). As part of FBC Group’s digital transformation and innovation drive, this is a breakthrough product in our market which brings convenience, security and comfort to the motoring public, allowing them to purchase Third Party Motor Insurance instantly using the mobile wallets of all the Mobile Network Operator Channels (i.e Telecash, OneMoney and Ecocash) as well as the ZIPIT platform.
Being a USSD based product means customers can renew their insurance without having to go to any physical branch.
The product is for everyone with a vehicle registered in Zimbabwe, not juts FBC clients.
To access the Digital Insurance service;
- dial *220#
- select Option 2 (Insurance Services) to access the Insurance platform.
- then select the “Third Party” option and proceed with the instructions
Yako Insurance cover is for a minimum period of 4 months or one term but can be purchased for the entire year. The vehicles that qualify for this platform are registered vehicles in Zimbabwe which are not exempt from paying third party insurance.
They should have a minimum value of ZWL$ 10,000 third party liability. The product comes with a considerable number of exciting benefits for the motoring public.