Orange Kenya and CIC Insurance Group have jointly launched a mobile insurance product called Orange Bima. The product will give the subscribers of Orange Mobile to insure their mobile devices with a sum of up to KSh40,000, as well as sign up for a life cover for up to KSh100,000.
The service will cost the subscriber a shilling a day, which will be deducted from their airtime. If the users do not have airtime for a day, the premium amount owed will be deducted once they top-up next within 30 days. So far, this is the lowest per-day premium payment in the country.
Orange Kenya CEO, Mickel Ghossien said that this product will increase the overall insurance penetration.