Telecoms giant Econet has launched an innovative short-term motor vehicle insurance service, EcoSure Moovah.

The service will offer vehicle insurance cover, ZINARA and ZBC licence discs — as well as free delivery of insurance cover notes and licence discs to the customers’ premises at no extra cost — all payable directly from the customer’s mobile phone, the company has said.

Speaking at the launch of the product in Harare this afternoon, Econet’s Cassava FinTech Zimbabwe CEO Eddie Chibi said EcoSure Moovah was set to disrupt the short-term insurance industry for the good of motorists through its attractive value proposition.

“This innovation, which follows in the footsteps of our phenomenally successful EcoSure Funeral cover and our existing pioneering, mass market products, is sure to shake the industry for the good of the motoring public,” Mr Chibi said, referring to EcoSure.

Ecosure currently provides cover to over 2 million Zimbabweans.

“Not only will EcoSure Moovah offer choice and flexibility through the option of customers to pay their premiums monthly, but it will also offer incredible value addition through bundled benefits of up to $5 000 at very competitive and affordability premiums,” said Mr Chibi.

Cassava FinTech is the Econet group’s business in charge of rolling out financial technology and other digital services.

Among Cassava’s product portfolio is the award-winning mobile money service EcoCash, which now boasts 8 million customers in Zimbabwe alone, and has been lauded for its immense contribution to financial inclusion in country.

Mr Chibi said EcoSure Moovah would leverage economies of scale within the Econet group, allowing it to offer a host of unique bundled benefits to its users, who would enjoy great convenience on many levels.

“If a motorist moves to Moovah today, they will have the convenience of carrying out the entire transaction of insuring their vehicle from the comfort of their home or office and, in addition, they will have the option of having the insurance note and licensing discs delivered to their door step,” said Mr Chibi.

Motorists would have multiple payment options to renew their vehicle insurance, on their mobile phone via USSD, using a mobile App or on a desktop via the web.