Kenya: Press Release: PA Insurance Unveils Platform for Instalment Payment of Motor Insurance Online
Tuesday, 21 April 2015
Nairobi, 21 April 2015 --- APA Insurance has launched a new platform that allows motor vehicle insurance policyholders to pay their annual premiums online in up to six monthly installments.|
The payment platform dubbed ‘MwezikwaMwezi’, developed in conjunction with Swahiba Insurance Agency, is meant to make purchase of motor vehicle insurance easy, affordable and convenient.
Usually, a whole year’s premium for motor vehicle insurance is paid in one lump sum. The ‘MwezikwaMwezi’ proposition introduces flexibility in these payments by breaking them into three or six installments. Besides, payments and registration are all handled online for convenience.
According to Mr. Michael Odour, Chief Executive Officer of APA Insurance, APA was a choice partner because the firm has a product that is approved by the Insurance Regulatory Authority that allows payments for motor vehicle insurance in installments.
‘At APA Insurance, we are committed to continually rewrite the rules of insurance. Our new proposition eliminates our customers’ headache in paying for motor vehicle insurance. In addition to staggering premiums into several installments, they can now enjoy the convenience of making the payments online,’Oduor added.
Customers signing up for ‘MwezikwaMwezi’ are required to submit their personal details and those of their vehicle registration, logbook and valuation certificate online, besides indicating where they would like the policy to be delivered. They will also make a one-off fee of 1.5% of the annual premium.
‘For as long as designated payments are made on time, the comprehensive vehicle insurance remains current,’ explains Oduor.
This new proposition follows the unveiling of the Globetrotter Travel Cover that insures travelers against loss or damage of luggage during travel, delayed departure of booked flights, the event that they cannot get to their destinations because of hijack, loss of essential documents, medical expenses and personal accidents. It also covers personal liability for accidental injury to third party or damage to their property.