Econet launches mobile phone insurance

Econet Insurance, a leader in innovative short-term insurance solutions, has launched a new package covering mobile phone damage. Named Moovah Mobile Phone Insurance, the package was developed in response to customer feedback, according to Econet Insurance's Chief Insurance Officer, Gift Noko.

"We are constantly seeking ways to meet our customers' needs. This new package helps them protect their mobile phones against accidental damage, including cracks, shattered screens, and any impact damage," Noko said during the launch event in Harare on Friday.

Mobile phones are essential for business, social, and educational purposes, storing sensitive information and cherished memories. However, accidental damage can significantly disrupt daily life. Moovah Mobile Phone Insurance aims to mitigate that disruption.

Noko explained that customers can register their phones using the short code *901#. They must then verify their devices at the nearest Moovah Agent or Econet Shop. All phones up to three years old are eligible for insurance coverage. Customers need to provide their phone model, IMEI number, and date of manufacture. Premium payments can be conveniently made via the EcoCash USD Wallet, or at any Moovah Agents or Econet Shops.

"In the event of a claim, customers can submit their device to any Moovah repair center for assessment. Approved claims may result in device repair or replacement," Noko added.

The launch of Moovah Mobile Phone Insurance coincides with significant growth in the global device insurance market, which is expected to reach $193.5 billion by 2031, reflecting increased demand for such services.

EcoCash Holdings Chief Commercial Officer Gilbert Tsongorera emphasized the group's commitment to enhancing the mobile phone experience.

"With our new insurance package, we are providing customers with the confidence and assurance they need to fully enjoy their mobile devices, knowing that they are protected against unexpected setbacks," he said.

The insurance package is affordable, with premiums based on a phone's value. For example, a phone worth $100 will have a monthly premium of $2.26.

In addition to mobile phone insurance, Moovah offers a range of insurance solutions, including Vehicle Cover, Home Comprehensive Cover, Legal Insurance, Crop and Livestock Cover, Plant and Equipment Cover, Electronic Equipment Cover, Liabilities Cover, Fidelity Guarantee Cover, and Theft or Fraud Cover.