By Moses Nyirenda
Centenary Bank has launched digital insurance products and services which can be accessed and managed by customers through the bank’s mobile App, ‘CentreMobileMw’ available for android devices.
The products and services include motor vehicle insurance and funeral expense plans.
Speaking in Lilongwe on Saturday, the Bank’s Principal Bancassurance Officer, James Msiska, said customers can select insurance and policies of their choice through the App.
“Customers can compare and select policies tailored to their needs in real time. For example, on motor vehicle insurance, one can compare premium quotations from five of our partner insurers and select the one that better suits their budget,” Msiska said.
The insurance cover can either be under comprehensive or third-party on private or commercial vehicles which customers can conveniently pay using the platform and they can pick their insurance discs at any Centenary Bank branch convenient to them.
Msiska stated that, for funeral insurance, customers can include their family members.
“Besides one registering for him or herself, customers can further select the number of family members to cover and the desired payout amount.
“For example, with a premium of K200, one would benefit a payout of K200,000, and a premium of K1,000 for the maximum coverage of K1,000,000,” he stated.
Msiska said, through the digital insurance services, the Bank aims to improve customer experience and meet the evolving needs of clients through their mobile platform as the streamlined process allows customers to efficiently evaluate and purchase policies completely through the App.
One of the bank’s customers, Caroline Phiri, applauded the Bank for coming up with the digital services saying they would save customers in times of need.
The digital insurance services are also aimed at reducing paper usage thereby making a positive environmental impact.
