O’MARI, the fintech subsidiary of Old Mutual Zimbabwe, has announced the launch of its new digital-first, low-cost home insurance product O’mari HomeCare, underwritten by Old Mutual Zimbabwe Insurance Company.
This innovative offering is designed to provide affordable and accessible insurance for homeowners.
The new product leverages on digital technology to streamline the application process and coverage delivery, which can be done on a mobile phone via the O’mari mobile app or WhatsApp, eliminating the need for in-person visits or paperwork.
Managing director Arthur Matsaudza said the digital-first approach allowed O’mari to offer competitive pricing while maintaining a high standard of service.
“Our goal with this new home insurance product is to make essential coverage more accessible and inclusive for Zimbabwean homeowners,” Matsaudza said.
“We seek to empower homeowners with the protection they need. By utilising technology, we can significantly reduce the cost of providing home insurance and we can pass these savings on to our customers.”
O’mari HomeCare includes cover for structural home damage due to fire, lightning, explosions and falling trees, providing simplified solutions for homeowners.
Customers can choose from various cover levels to fit their needs and budgets.
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O’mari HomeCare offers flexible payment options, including monthly instalments, with premiums starting at just US$2,50 per month significantly lower than the industry minimum of US$5,00 per month.
The launch builds on O’mari’s mission to leverage on technology to expand access to financial services in Zimbabwe.
O’mari has already established a strong presence in the fintech sector and O’mari HomeCare represents an important expansion of its product portfolio.
O’mari HomeCare is a product born out of collaboration with Old Mutual Insurance Company.
“We are excited to partner O’mari to provide our customers with an affordable, flexible and accessible home insurance solution,” said Gloria Zvaravanhu, managing director of Old Mutual Zimbabwe Insurance Company.
“The launch of O’mari HomeCare aligns with our commitment to delivering innovative financial solutions that improve the lives of Zimbabweans. Together we want to bridge the insurance penetration gap and foster greater financial inclusion and wellness” she added.
