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Econet launches mobile phone insurance

Gift Noko, Econet Insurance’s Chief Insurance Officer

Econet Insurance, a leader in innovative short-term insurance solutions, has launched a new insurance package that covers mobile phone damage. 

The package, named Moovah Mobile Phone Insurance, was introduced in response to customer insights, according to Gift Noko, Econet Insurance’s Chief Insurance Officer.

“We are constantly seeking ways to meet our customers’ needs. This new package helps them protect their mobile phones against accidental damage, including cracks, shattered screens, and any impact damage,” Noko said at the launch event in Harare on Friday.

Mobile phones are essential tools for business, social, and educational purposes, storing sensitive information and cherished memories. However, accidental damage can significantly disrupt daily life, and Moovah Mobile Phone Insurance has set out to mitigate that disruption. 

Describing the insurance process, Noko said customers simply register their phones using the short code *901#. They are then required to get their device verified at the nearest Moovah Agent or Econet Shop throughout the country. 

He said all phones up to three years old are eligible for insurance coverage. “Customers just need to provide their phone model, IMEI number, and date of manufacture. Premium payments can be made conveniently via the EcoCash USD Wallet, and at any Moovah Agents or Econet Shops.

“In the event of a claim, customers can submit their device to any Moovah repair centre for assessment. Approved claims may result in device repair or replacement,” Noko explained.

The launch of the mobile phone damage insurance package coincides with a significant growth in the global device insurance market, which is expected to reach $193.5 billion by 2031, highlighting the increase in demand for such services.

EcoCash Holdings Chief Commercial Officer Gilbert Tsongorera said the group was committed to enhancing the mobile phone experience. 

“With our new insurance package, we are providing customers with the confidence and assurance they need to fully enjoy their mobile devices, knowing that they are protected against unexpected setbacks,” he said.

He said the insurance package was affordable, with premiums based on a phone's value. “For instance, a phone worth $100 will have a monthly premium of $2.26,” he said.

In addition to mobile phone insurance, Moovah offers a range of insurance solutions, including Vehicle Cover, Home Comprehensive Cover, Legal Insurance, Crop and Livestock Cover, Plant and Equipment Cover, Electronic Equipment Cover, Liabilities Cover, Fidelity Guarantee Cover, and Theft or Fraud Cover.

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