Commuter indemnity product to launch
Last year winners of the Development Bank of Namibia’s Business Innovation Award, Go Safe ‘Eenda Nawa’ are set to launch a mobile insurance product for commuters next month at the eCommerce Africa Conference to be held in Cape Town. Founder of Go Safe, Regto Ndemufayo David plans to launch their product which is set to offer N$20 cover per trip to commuters with N$5,000 funeral cover and also N$500 airtime contribution towards the family for burial arrangements.
The 24-hour travel cover works when users simply SMS their full name to a Go Safe number before every trip to town for shopping or long distance travels and they will be covered for medical and funeral services in the case anything happens to them on the road. “There is a need for a simplified insurance for the low wage earner,” said David. He is confident that the payout amount is a significant contribution to those that have little or no income in affording a decent burial. As for now Go Safe will have to cough up the compulsory N$4 million needed to be registered with Namibia Financial Institutions Supervisory Authority (NAMFISA). “We cannot afford the amount so are currently in talks with already registered insurance providers in partnering,” said David.
Plans are also underway in extending the mobile insurer as a franchise to neighbouring SADC countries such as South Africa, Zambia, Zimbabwe, Botswana, Angola, Malawi and other African countries such as Kenya, Nigeria and Ghana were public commuting is the common means of transport.