Econet’s EcoSure reach 1-million users in two months

ECONET Wirless’s insurance service, EcoSure has registered over one million new customers since its launch on December 10 last year.
Econet says, EcoSure has been registering more than 150 000 new customers per week as it emerges as Zimbabwe’s largest micro-insurance provider by customers.
Econet Wireless chief executive officer Douglas Mboweni acknowledged the phenomenal acceptance of the new service, saying it offers the possibility that Zimbabwe could achieve universal insurance coverage before the end of the year.
“We have a situation where families do not have to deal with the shock of unplanned funeral costs after the loss of a loved one,” he said.
Mboweni said although the packages available ranged from those with premiums of 50c per month for a pay-out of US$500 to US$5 per month for a pay-out of US$5 000, the most popular package is the US$1 per month, which has a pay-out of U$1 000.
The Econet boss also revealed that in keeping with the “Econet tradition” of rolling out many innovations around a new service, plans are well advanced to launch other insurance products.
“We have a massive pipeline of new insurance products to satisfy every need that you can imagine. Some of these products have never been seen anywhere in the world before. We don’t want to spoil the surprise by talking about them prematurely,” he said.