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Home Business Old Mutual’s O’mari launches home insurance solution
Business
August 15, 2024

Old Mutual’s O’mari launches home insurance solution

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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 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.

O’mari HomeCare includes coverage for structural home damage due to fire, lightning, explosions, and falling trees, providing simplified solutions for homeowners.

O’mari HomeCare includes coverage for structural home damage due to fire, lightning, explosions, and falling trees, providing simplified solutions for homeowners.
Managing director Arthur Matsaudza said the digital-first approach allows 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,” said Matsaudza.
“We seek to empower homeowners with the protection they need.  By utilizing 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 coverage 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.

O’mari HomeCare also offers flexible payment options, including monthly installments, with premiums starting at just USD$2.50 per month – significantly lower than the industry minimum of USD$5.00 per month.

The launch builds on O’mari’s mission to leverage 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.

The O’mari HomeCare is a product born through collaboration with Old Mutual Insurance Company.

“We are excited to partner with O’mari to provide our customers with an affordable, flexible and accessible home insurance solution,” said Gloria Zaravanhu, 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.