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aYo Uganda micro insurance hits 500,000 customers

Edwin Kwesiga, aYo Uganda CEO; Wim Vanhelleputte, MTN Uganda CEO and Imran Mahomed, aYo Holdings CEO. FILE PHOTO

kampala, Uganda | JULIUS BUSINGE | Over 500,000 customers have signed up for MyHospital and MyLife micro-insurance covers offered by aYo Uganda Limited since opening shop in Uganda in Sept. 2016.

This was confirmed by the firm’s Chief Executive Officer, Edwin Kwesiga. aYo Uganda is a subsidiary of aYo Holdings Limited, a joint venture between MTN Group and MMI Holdings.

Speaking to The Independent on the sidelines of the new aYo two months promotion dabbed “Fuuka Don ne aYo”, Kwesiga said they have paid out over Shs 100 million in form of claims to over 150 customers.

“We are on course to becoming the biggest insurance service provider,” he boasted, adding that in the next three months, they target to have increased the number of customers on these products by 100% to one million.

Micro insurance is a very important tool in getting low income earners out of poverty as it protects them against losses that threaten their progress.

Thomas Sekanwagi, aYo’s marketing manager said their entry into insurance aims to increase insurance penetration that has muted at 1%for many years compared to an average of over 2% for the East African region.

Kwesiga said one of the challenges they are dealing with, is the negative perception by people that insurance companies do not pay the insured (client) when the loss occurs.

In defense, he said that aYo does not require a lot of paperwork like it is for other big policies that insurance companies offer.

“We process and pay our claims in 72 hours,” he said. Meanwhile, the new promotion will see those signed up for it stand a chance to win instant MTN airtime worth Shs10, 000 daily and entered in a draw to win Shs 1 million every week for eight weeks.

9 comments

  1. Is it possible for me also to get a job in your company?

    • Being insured with Ayo is a very good opportunity for us to save n get medical access in time, it is working for me n my family, its worth recommending that’s why I always recommend it to everyone around me

  2. Tusubira simon

    I need more explanation please thanks

  3. Can you please put for illnesses cover please

  4. there is no way of putting insurence on the illness because this for those who had got accidents or lost a familly member. some are claiming even for transport accidents,ayo isn’t helping them, sometime we’re asking why? there are people who are located far from the hospital,after having an accident at work,home,transporter,… they go to the health centre IV, ayo can’t support them?

  5. Why does my balance only show for the air time purchased at the time eg when I load 1500/= air time then daily *296#, balance is 15000/= as if that is the only airtime purchased.
    There should be increments each time I load airtime.
    Please clarify.
    Thanks

  6. it is very good for me, it can help me and my family. so I want know, how can I withdraw my money if I am very far from service centre? please show the code to withdraw if possible, I am suffering.

  7. I don’t know how ayo really work but I need to now more

  8. Dear Ayo Team,

    Good Morning, how can i be sure that you can help if am a victim of accident, when some of your clients are complaining e.g;
    sylvie kyakimwaSeptember 20, 2019 at 8:04 am
    there is no way of putting insurence on the illness because this for those who had got accidents or lost a familly member. some are claiming even for transport accidents,ayo isn’t helping them, sometime we’re asking why? there are people who are located far from the hospital,after having an accident at work,home,transporter,… they go to the health centre IV, ayo can’t support them?

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