Kenya Orient Insurance Limited has today officially launched insurance cover targeting mobile devices that use a GSM sim card. The owners of genuine devices would be able to get the cover by paying annual premiums from as low as KES 999.
The great thing about Orient Mobile is that it is open to all data-enabled phones. According to Kenya Orient Managing Director, Mr Muema Muindi.
“As the non-life segment moves beyond motor insurance, we are looking beyond the usual product avenues to give Kenyans compelling affordable and convenient solutions as well as deepen the penetration of insurance in the country,”
The sign-up process can only be done from the device which is to be insured. The process is initiated by sending a Short Message Service (SMS) with the word MOBILE to the code 70707 and is completed by a link on the internet. A phone will be eligible to be insured if it is less than 2 years old from the date of purchase.
The standard SMS and data rates as charged by the mobile network operator will be applied.
Orient Mobile clients can register multiple devices using the same National ID or Passport number. However, the cover for each device will have to be purchased separately and each device will have a unique policy number.
The sign up is simple. Send an SMS with Mobile to 70707. The customer will then receive an SMS with a link to the Orient Mobile website. Click on this link to continue with the sign-up process.
Mr Muindi urged Kenyans to take advantage of the cover:
“KOIL uses state-of-the-art technology to confirm the details of your device and calculates an insurance value based on the make, model and year of purchase of the device. Additionally, the insurance value also takes into account the expected depreciation of the device over the next 12 months. Therefore the insurance value will always be lower than the retail price of the device at the time you are taking up the policy”
Good stuff, I have been waiting for someone to try this.