Grameenphone on Monday introduced ‘Nirvoy Life Insurance’, a microinsurance product underwritten by Pragati Life Insurance and powered by MicroEnsure Bangladesh.
Nirvoy Life Insurance rewards Grameenphone subscribers with free life insurance cover based on the amount of airtime used each month. The product has been simplified to make it easy to use and it is free for the subscribers.
Subscribers can qualify for Nirvoy Life Insurance by using Tk 250 of airtime each month and the more airtime the subscribers use, the more free insurance they earn up to a maximum of Tk 50,000 of benefit upon death.
Nirvoy Life Insurance becomes active on the first day of the month following registration and the total insurance benefit is based on the subscriber’s airtime usage in the previous month.
Grameenphone chief marketing officer Allan Bonke said, ‘Nirvoy Life Insurance is an exciting new venture for Grameenphone by providing protection for our subscribers who have never been able to afford insurance. By expanding our range of services, we are enhancing our customer experience with real value and peace of mind to our subscribers.’
Pragati Life Insurance managing director Md Jalalul Azim said, ‘Using mobile phone technology we are able to reach millions who were previously unable to access meaningful insurance protection.’
‘Insurance take up is low in Bangladesh yet the man on the street worries about the risks they face every day’, said MicroEnsure Asia COO Martin Fuller.
-With New Age input
