Comviva, the global leader in providing mobile solutions beyond VAS, on Tuesday said it has entered into a partnership with Banglalink, the second largest cellular service provider in Bangladesh, with 24 million customers and 28% market share to launch mobile insurance premium collection service over its mobiquity mobile financial services platform.
Branded ‘Mobile Cash Insurance Pay’, the service has been launched in partnership with Jiban Bima Corporation, the country’s largest life insurance company. This is the first time a South Asian mobile services provider has launched an insurance service linked to the mobile wallet.
Announcing the service offering, Solaiman Alam, Head mCommerce, PR and Communication, Banglalink commented,“Banglalink is committed to leveraging technology to bring a broad range of convenient, affordable financial services to customers. Our partnership with Comviva to provide m- insurance payment services would drive higher uptake of insurance services among previously low-income underserved segments. The service represents another step ahead in broad-basing access to financial services in Bangladesh.”
Speaking on the occasion, Milind Pathak, Vice President, South Asia, Comviva, commented, “With widespread usage of the mobile to perform everyday financial transactions, mobile users are now differentiating between mobile service providers based on the range of services they offer – and the increased convenience and affordability these bring.”
The insurance service represents a series of innovations to broaden uptake of mobile financial services and promote financial inclusion in a country where 87% of the population is unbanked. Earlier, Banglalink was the first operator in South Asia to offer mobile IMT services to customers along the UAE- Bangladesh corridor.