Resolution Insurance in partnership with Insure Afrika have launched an innovative product that allows motorists to purchase vehicle insurance faster, seamlessly and conveniently using their devices.
Dubbed Next Taxi Insurance, the solution is Kenya’s first online-only motor PSV insurance product that will help taxi owners and operators reduce the cost and time it takes acquire and renew motor insurance.
The insurance provider has introduced the solution in collaboration with Insure Afrika, who are the developing partners. Car owners will be required to log on to the platform and provide profile details of the driver.
The platform then generates a quotation based on this profile details and car specifications provided by the client after which payment can be made via mobile money or plastic card. Their insurance sticker will be delivered to the desired location.
The revolutionary product will help Resolution Insurance deepen uptake of its motor vehicle insurance offering and consequently shore up its margins, as well as minimize operating costs at a time when competition in the industry is increasingly steeper.
The product is a variation of the motor commercial product and targets individuals and corporates that use motor vehicles as chauffer driven taxis. The cover will provide comprehensive motor insurance for both the car and driver.
“Innovation is inevitable in our growing Insurance industry and we as Resolution Insurance are making strides in making it easier to have access to fast and reliable insurance solutions from the comfort of their desired location,” said Resolution Insurance Managing Director Ms. Alice Mwai during the launch event held at the Stanley Hotel in Nairobi.
She added; With our strategic partnership with Insure Afrika we aim to grow this product and ensure chauffer driven taxis have quick access to protective and easily accessible insurance solutions.
Insure Afrika Founder and C.E.O Gagan Hayer spoke on the benefits of the product “We are bringing insurance closer to the customer and with a few clicks, taxi owners and drivers will be able to finish up with their insurance purchase or renewal within a matter of minutes. This new product will change how insurance works by bringing in the aspect of digitized insurance solutions that increase efficiency for the driver and owners while making the insurance processes more seamless and paperless for all parties involved.”
Next Taxi Insurance is a driver in the transition of insurance products becoming more digitized and easier to access to both clients and insurers. Product innovation within the insurance industry is soon to grow, bringing a variety of benefits to customers.
Resolution Insurance is on the forefront in designing and creating more creative and innovative products to foster growth and product variety while propelling the industry to the NEXT level of insurance.
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