One of Malawi’s leading insurers, General Alliance Insurance Company has signed an agreement with MalCom which will see MalCom, operators of MobiMax, collecting insurance premiums on behalf of General Alliance.
The MobiMax Charge Card enables the card holder to access goods and services even at a time when the card holder does not have money in the bank, as the card does not link to the cardholder’s bank account.
Speaking after the signing ceremony on Tuesday, General Alliance’s Business Development Manager, Hastings Kapesa, said the development will enable MobiMax Charge card holders to buy insurance policies from the company.
He said the agreement will also allow card holders to pay their premiums in instalments by debiting the card holder’s account at discounted premiums.
“The service will increase General Alliance’s market share and reduce debt management headaches.
The product is efficient and effective as it has been approved by the Reserve Bank of Malawi,” said Kapesa.
MalCom Limited Chief Executive Officer Chris Kanyuka said his company is excited about getting into an agreement with General Alliance that expands the MobiMax Charge card cashless transaction platform.
“We believe that with this arrangement, MobiMax will increase its number of card holders and thereby also increase the size of cashless transactions in Malawi.
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