aYo, a mobile micro-insurance joint venture between MTN and SA’s third-biggest insurer Momentum Metropolitan, seems to be winning the minds, hearts and wallets of existing and new customers.
In 2017, Momentum Metropolitan and MTN launched aYo, a micro-insurance joint venture.
It began its roll-out in Uganda in January 2017 and has also been deployed in Ghana and Zambia.
With insurance penetration low in many countries in the African region, aYo aims to draw on the resources and capabilities that both companies provide to improve this and offer relevant, accessible and easy-to-use insurance solutions to consumers.
“Our aYo joint venture recorded almost six million registered insurance policyholders,” MTN informed investors on Wednesday.
In 2018, aYo clients enrolments increased by a pleasing 233% to 4 million year-on-year.
aYo provides you with a fast, convenient and easy to use insurance right on your cell phone. You enjoy hospital and life insurance cover through airtime deduction (Recharge with Care) or when you send MoMo (mobile money) to your family or loved ones (Send with Care).
It brings you an easy way to get hospital cover for accidents (not illness) and life cover.