Micro insurance via mobile from Dialog, Ceylinco Insurance and Milvik Lanka

Tuesday, 14 May 2013 00:30 - - {{hitsCtrl.values.hits}}

Rs 1 per day, million rupee insurance cover from Dialog

Dialog Axiata PLC Sri Lanka’s mobile market leader announced today that it had partnered with premier insurance provider Ceylinco Insurance and technology partner Milvik Lanka to deliver a one million Rupee accident cover for a daily premium of Rs. 1. The revolutionary micro-insurance product is enabled and delivered via Mobile technology and is available to Dialog’s 7.8 million pre-paid and post-paid subscribers across Sri Lanka.

Dialog mobile customers would now have the opportunity to subscribe to the insurance programme direct from their mobile, with daily or monthly premiums being automatically debited to their pre-paid or post-paid accounts respectively. Post-paid customers can also opt for extended levels of accident cover at graduate daily premiums of Rs. 2 up to Rs. 5 for extended cover of Rs. 2 Million to Rs. 5 Million.

Dialog Axiata PLC Director/Group Chief Executive Dr. Hans Wijayasuriya, commenting on the company’s foray in to mobile-based insurance offerings said: “Mobile Technology enables products and services from across multiple sectors to be delivered to a vast majority of the population in a formulation which maximises affordability and convenience. We are privileged to have Ceylinco Insurance and Milvik Lanka, an associate of BIMA as our partners in the creation and delivery of this pioneering micro-insurance product which segments an insurance premium in to daily sachets for the benefit of millions of Sri Lankan citizens. The launch of this micro-insurance product supplements our ongoing innovation thrust to deliver financial inclusion, leveraging on the power of mobile technologies. Our mobile money service eZ Cash has revolutionised the mobile money interchange and payment landscape in Sri Lanka and likewise, I am confident that micro-insurance via mobile will transform insurance delivery and adoption in to the future.”

The innovative accident policy covers accidental death and disability. The micro-insurance product is billed to be the first in a portfolio of micro-insurance services to be developed going forward.

Ceylinco Insurance Managing Director / Chief Executive Officer Ajith Gunawardena voicing his thoughts on the new venture said: “For us as the leader and trendsetter in the insurance industry, this is yet another opportunity to enhance the value added services we provide to the public. This new service makes use of cutting edge mobile technology, offering convenience and real-time benefits to the people of Sri Lanka. Through this new programme, customers of Dialog could obtain an insurance cover without leaving the comfort of their home or office. Ceylinco Insurance is pleased to join hands with two global giants, Dialog Axiata and Milvik Lanka to be a part of this innovative concept. We strongly believe that affordability and accessibility is vital, in order for the benefits of insurance to reach a wider public.”