MTN MoMo Zambia takes the leap into insurance

The MTN subsidiary has announced a new service that enables customers to make secure health and motor insurance payments.

by Staff Writer

MTN Mobile Money (MoMo) Zambia is growing its ecosystem with accessible and reliable protection solutions, having announced its entry into the health and motor insurance payments markets.

According to the company, the launch is a big step toward positioning MoMo as a comprehensive insurance marketplace that offers numerous insurance solutions on a single digital platform.

It went on to say this expansion is made possible through two inaugural partnerships with Mzanu Financial Services, offering Banja Life Assurance and Health Insurance, and Master Business Associates Risk Advisory Services, providers of Insurance Made Easy Through Technology (IMETT), a mobile-first solution designed to simplify insurance distribution and advance financial inclusion across Zambia.

The company said: “Both Master Business Associates Risk Advisory Services and Mzanu Financial Services participate in the partnership in their capacity as licensed insurance intermediaries, enabling customer access to products underwritten by registered insurers.”

It added that this service, available via the USSD code *115#, is designed to help Zambians protect what matters most: their health, families, and assets.

Further, the company said: “While mobile money usage continues to grow across the country, insurance has traditionally remained out of reach for many due to complex processes, low awareness, and reliance on face-to-face interactions.

“MTN MoMo aims to change that by putting protection directly into the hands of customers, while also creating a competitive digital environment that encourages more affordable and accessible insurance offerings.”

MTN went on to assert that by operating as a marketplace, MoMo allows for the digital delivery of numerous insurance solutions, boosting transparency, expanding customer choice, and encouraging healthy competition in the industry.

“This competition is expected to play a key role in lowering barriers to entry and making insurance more inclusive for everyday Zambians,” said the company.

Speaking on the launch, MTN MoMo CEO, MKomba Malukutila, highlighted that the service is a growing marketplace. 

“Insurance should not feel complicated or intimidating,” he said.”