Lebanon: AROPE Insurance launches mobile micro life plan
Source: Middle East Insurance Review | Nov 2015
AROPE Insurance, a member of the BLOM Bank Group, has launched “Allo...Hayete”, a mobile microinsurance plan that promises to make life insurance accessible to everyone in an easy, flexible and adequate manner.
The plan covers death resulting from sickness, accident, passive war and terrorism, and at an adequate cost for people with limited income. The amount of coverage upon death is LBP5 million (US$3,320) to the beneficiary.
The product is offered in cooperation with technology service provider InMobiles and mobile network operators Alfa and Touch. Available only via SMS, it allows fixed and prepaid line owners aged between 18 and 60 to join the programme regardless of their nationality, provided they are residing permanently and legitimately in Lebanon.
“Subscribing to this programme is very easy and doesn’t require filling any application form or document at AROPE Insurance,” said the insurer in a statement. Subscription can be done by sending a free SMS, followed by keying in the personal details of the insured person and the beneficiary. A certificate number is then sent through the person’s mobile phone to confirm the subscription. An original certificate bearing the signature and seal of AROPE Insurance can be retrieved any time upon subscriber request.
The cost of the plan amounts to US$3 per month, $0.7 a week, or $0.1 a day for all ages. “Allo…Hayete” allows policyholders to amend their payment frequency, change their beneficiary or even cancel their subscription any time by sending a free SMS.
LBP100 = US$0.07