Even though the market has become more competitive in Africa, many insurers still rely on traditional methods to reach customers. While other industries have been pro-active in their adoption of mobile technology due to its convenience and reach, insurance has generally been slower to adapt. Ashok Shah, Group CEO of APA Apollo, examines this. “Mobile technology can have a significant impact on the insurance industry by attracting new customers and retaining former policyholders. However, getting access to a mobile device is the first step towards broader financial inclusion. This empowers people to access affordable financial products like insurance. Fortunately, mobile phone ownership is on the increase across the continent due to devices becoming increasingly affordable and WiFi hotspot
The significant penetration of smartphones, lowered connectivity costs, high speed internet technologies and supportive government regulations is driving the growth of the global consumer telematics market. This is according to a new Consumer Telematics Market – Growth, Trends, Forecast, Demand, Outlook Upto 2024 report by Transparency market research. The reports, also notes that the growing demand of big data analytics and related services is also an important factor influencing the growth of the market. Moreover, proliferation of cloud-based services in order to deliver personalized experience to the end-user is also expected to positively impact the market’s demand. Telematics is the subdivision of information technology that consolidates computers and wireless telecommunica
Africa’s smartphone market experienced a quarter-on-quarter (QoQ) decline of 6.4% during Q4 2017, according to the latest insights announced by International Data Corporation (IDC). The global technology research and consulting firm’s Quarterly Mobile Phone Tracker shows smartphone shipments were down to 20.3 million units for the quarter. Year on year (YoY), this represents an 18.0% decline, meaning the YoY improvement seen in the previous quarter did not extend to the year’s final – and traditionally strongest – quarter. In the feature phone space, shipments totaled 33.4 million units, up 3.1% QoQ after decreasing in the previous quarter. Year on year, the feature phone market was up 9.9%. Feature phones continue to account for a majority share (62.2%) of the region’s overall mobile p
Truecaller, unwanted texts and phone calls filter firm has set up its Sub – Saharan Africa office in Nairobi led by Zakaria Hersi as Director of Partnerships for Africa. Hersi will be spearheading Truecaller’s expansion plans in the region as the firm aims to drive its numbers. Truecaller has more than 50 million users in Africa and identifies more than half a billion calls a monthly in the region, and 50 percent of SMS received are spam. In Kenya the application blocks and filters more than 4.4 million calls and 14 million spam SMSes per month. Late last year Truecaller launched its Developer Program with Truecaller SDK its mobile identity product for digital start-ups and app developers, they will be doubling down on their monetization initiative, and introduce its Truecaller
PayJoy, a mobile distributor and Allied Mobile, are collaborating to bring smartphone payment plans to markets across Africa. Allied Mobile will use PayJoy Checkout, a paperless finance system for customers without access to formal credit, and the patented PayJoy Lock which enables “pay-as-you-go” access to the phone. Consumers will be able to access these smartphone payment plans in mobile retail stores operated by Allied Mobile in 38 countries, starting with initial pilot countries. This partnership aims to solve fundamental barriers to mobile internet adoption in Africa. Africa is the least developed region in the world for mobile connectivity and adoption. More than half the population in Africa are using mobile services, yet only a quarter are accessing the internet via mobile.