MTN MoMo Brings Health and Motor Insurance to Mobile Phones
MTN Mobile Money Zambia has launched a new digital insurance marketplace that allows customers to securely access and pay for health and motor insurance services directly on the MoMo platform, marking a major step in expanding digital financial services in the country.
The new service enables customers to purchase insurance via the *115# USSD code, positioning MTN MoMo as a one-stop marketplace that brings together multiple insurance options on a single digital platform. The initiative is aimed at increasing access to affordable and trusted insurance solutions, particularly for underserved populations.
The insurance marketplace has been launched through partnerships with Mzanu Financial Services and Master Business Associates Risk Advisory Services. Mzanu Financial Services is offering Banja Life Assurance and Health Insurance products, while Master Business Associates Risk Advisory Services provides IMETT (Insurance Made Easy Through Technology), a mobile-first insurance distribution solution. Both partners are licensed insurance intermediaries, facilitating customer access to products underwritten by registered insurers.
MTN Mobile Money said the initiative addresses long-standing barriers to insurance uptake in Zambia, including complex processes, limited awareness, and reliance on face-to-face interactions. By integrating insurance into the MoMo ecosystem, the company aims to make protection services more accessible, transparent, and convenient for customers across the country.
Speaking at the launch, MTN Mobile Money Chief Executive Officer, Mr Komba Malukutila, said the platform represents a growing marketplace that will continue to expand. He noted that the company plans to onboard additional insurance partners to broaden customer choice and strengthen the value of the platform.
Mr Malukutila said the marketplace reflects MTN’s vision of building a comprehensive digital financial ecosystem where insurance services are simple, accessible, and available from multiple trusted providers in one place.
Meanwhile, Master Business Associates Risk Advisory Services Chief Executive Officer, Ms Cindy Chibambo, said the IMETT platform is designed to meet customers where they are by leveraging trusted digital technologies.
She added that the partnership with MTN MoMo will enable the provision of motor insurance products from several insurance providers, including Professional Insurance, NICO, ZSIC, Madison, General Alliance, and Swan.
Chief Executive Officer of Mzanu Financial Services, Mr Munya Javangwe, said the collaboration represents a significant step towards making affordable and relevant insurance accessible to more Zambians.
He noted that digital platforms such as MTN MoMo allow solutions like Banja Kava to reach customers in a way that aligns with their daily lives.
The service is targeted at a wide range of customers, including young adults, families, small business owners, and people in rural areas who rely heavily on mobile money services but have limited access to traditional insurance providers.
Customers can access insurance services by dialling *115#, selecting Option 7 (Financial Services), then Option 3 (Insurance), and choosing their preferred cover.
MTN Mobile Money said the initiative aligns with its broader commitment to driving financial inclusion by expanding access to essential financial services and strengthening Zambia’s digital economy.
