Cash-based on-demand Life Insurance in Zambia

The Briisk Mobile App interface integrates with the distribution partner agents’ existing digital workflow and in one sales call, the agent now not only sells electricity and airtime but also insurance.
Using the functionalities of the Briisk ITP, we developed an innovative insurtech solution for Upendo Africa. The on-demand life insurance product is provided by Prudential Life Assurance Zambia. The Briisk Mobile App interface integrates with the distribution partner agents’ existing digital workflow and in one sales call, the agent now not only sells electricity and airtime but also insurance. Customers pay in cash, on a monthly or up-front basis for several months. This means that they can provide security for their families through a financial service which they would otherwise be excluded from.

We have seen significant, double digit conversion in this sales channel and since the onset of COVID-19 crisis we have measured a significant increase in sales of this type of on-demand life insurance policy.
"97% of all payments in Africa are still in cash, but insurers are not geared for cash collections. Additionally, lower-tier market segments prevalent in emerging countries only have low and potentially inconsistent cash availability. Therefore, we developed a pay-as-you-go micro-insurance and micro-finance solution that is sold via a digitised face-to-face agent channel for airtime and electricity. Briisk provided us with the digital insurance solution to integrate with our agent channel at the point of sale. Our agents are in full swing now and we are seeing significant conversion for this innovative, digital life insurance solution."

Mark Parker, Group CEO Upendo

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