SureBuddy, has launched to bring sponsored insurance and insurance related products to users in Uganda by allowing consumers to watch advertisements in order to earn free insurance cover as a reward.
Johan Basson, SureBüddy spokesperson said that SureBuddy’s ad images are non-intrusive, use very little data, and disappear with a click.
SureBüddy’s cover is paid by the advertiser. SureBüddy then uses the advertising revenue to reward the user directly with cover.
Insurance penetration in Africa is amongst the lowest in the world, even though there is a crucial need for it. SureBüddy aims to make insurance less-intimidating, understandable and affordable.
“The distrust in insurance products forced us to start with non-insurance products. Starting with screen cover means that clients will feel immediate gratification – when their phone screens break, they can have them repaired immediately. The only thing that the User will ever pay for is an administration fee to the repairer of maximum 10% of the repair value. This will start building trust in the concept of insurance and the initial purchase decision is easy because it free. Over time, they can change to insurance products such as life cover, as their understanding and trust increases from this experience,” says Basson.
To gain consumer trust towards free credible insurance plans, SureBüddy will implement the first phase of its service by providing screen cover in conjunction with Phone Doctor, and have partnered with Africell, a top telecommunications group in Africa
“It’s an honour for us to be associated with such a great innovation. For us at Africell, it’s about giving our customers the best services at the cheapest costs on the market. We understand that mobile phone technology has shifted from physical keypads to touch screens so user experience is largely dependent on a functional smartphone screen. SureBüddy is pledging to help us ensure our customers’ phone screens stay in tact, and are fixed whenever they break. This is a milestone for us.” Milad Khairallah, Africell Commercial Director noted.
Uganda is the first-to-market for SureBüddy but the firm aims to roll out into 11 Sub-Saharan Africa countries, as well as India, Turkey, Indonesia, Philippines, Pakistan with South American countries to follow.
SureBüddy will work closely with Swiss Re to ensure that they find the right insurance partners in every country.
“Swiss Re is committed to make the world more resilient, apply fresh perspectives and create smarter solutions with our clients to help the world move forward. SureBuddy will make sure that we get more protection to more consumers in a very innovative way.” says Thys Nieuwoudt, Swiss Re CEO Life & Health Africa.