Page 7 - Promising-Starts-in-Mobile-Microinsurance
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PROMISING STARTS IN MOBILE MICROINSURANCE: TIGO SENEGAL & TELENOR PAKISTAN
INSURANCE PREMIUMS AS A PERCENTAGE OF GDP (2012)
10%
8.6%
8%
6%
3.7%
4% 3.0%
2% 1.4%
0%
INDUSTRIALISED AFRICA MIDDLE EAST AND
COUNTRIES EMERGING ASIA CENTRAL ASIA
Figure 1: Global insurance penetration 5
Promising new players: Tigo Senegal & Telenor Pakistan
This case study examines the early performance of two young mobile microinsurance initiatives.
Part 1 features Tigo Kiiray, a life insurance product of Tigo, an MNO in Senegal that launched in April 2012 in partnership with mobile
microinsurance specialist Bima. This section will focus on the operational model and product design that allowed Kiiray to reach 13% of
Tigo’s 3 million GSM subscriber base . 8
Part 2 focuses on the strategic motivations for MNO-led mobile microinsurance, examining how Telenor Pakistan is using insurance to
drive customer behaviour across both its core GSM and mobile money business. Its GSM product, Talkshawk Mohafiz, is being offered
through a global joint venture with mobile microinsurance specialist MicroEnsure, and has gained significant traction in its first 2 months
of operation by registering almost 400,000 subscribers.
TYPE OF INSURANCE COMMERCIAL
OFFERED MODEL
24%
PART 1
48% 52%
NON-LIFE LOYALTY-BASED INSURANCE MADE FOR
76%
LIFE PAID PREMIUMS THE MASS MARKET:
Figure 2: Existing mobile microinsurance initiatives TIGO & BIMA IN SENEGAL
8. Millicom Financial Reports
4
INSURANCE PREMIUMS AS A PERCENTAGE OF GDP (2012)
10%
8.6%
8%
6%
3.7%
4% 3.0%
2% 1.4%
0%
INDUSTRIALISED AFRICA MIDDLE EAST AND
COUNTRIES EMERGING ASIA CENTRAL ASIA
Figure 1: Global insurance penetration 5
Promising new players: Tigo Senegal & Telenor Pakistan
This case study examines the early performance of two young mobile microinsurance initiatives.
Part 1 features Tigo Kiiray, a life insurance product of Tigo, an MNO in Senegal that launched in April 2012 in partnership with mobile
microinsurance specialist Bima. This section will focus on the operational model and product design that allowed Kiiray to reach 13% of
Tigo’s 3 million GSM subscriber base . 8
Part 2 focuses on the strategic motivations for MNO-led mobile microinsurance, examining how Telenor Pakistan is using insurance to
drive customer behaviour across both its core GSM and mobile money business. Its GSM product, Talkshawk Mohafiz, is being offered
through a global joint venture with mobile microinsurance specialist MicroEnsure, and has gained significant traction in its first 2 months
of operation by registering almost 400,000 subscribers.
TYPE OF INSURANCE COMMERCIAL
OFFERED MODEL
24%
PART 1
48% 52%
NON-LIFE LOYALTY-BASED INSURANCE MADE FOR
76%
LIFE PAID PREMIUMS THE MASS MARKET:
Figure 2: Existing mobile microinsurance initiatives TIGO & BIMA IN SENEGAL
8. Millicom Financial Reports
4
