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Nigerian insurtech startup, ETAP partners AIICO to redefine car insurance

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Nigerian insurtech startup, ETAP has entered into a partnership with frontline insurance firm, AIICO Insurance which will make it easier for Nigerians to to buy car insurance and make claims, driving increased penetration of car insurance in the country.

The Chief Executive Officer (CEO) of ETAP, Ibraheem Babalola, who announced the partnership with AIICO, said with the new arrangement, buying and claiming on car insurance would be as easy as “taking a picture, providing drivers with access to a range of daily, weekly, monthly and quarterly plans to choose from.”

“We are proud to collaborate with AIICO Insurance on this transformative collaboration,” Babalola said.

“The app’s ability to reward safe driving habits while providing rewards for doing so as well as quick access to insurance purchase and claims payment will undoubtedly empower car owners and encourage responsible behaviour on the roads.

“We invite everyone to download the app from Apple App Store or Google Play Store and experience a new dimension of driving,” he added.

Also commenting on the partnership, Gbenga Ilori, head of retail business of AIICO Insurance, said:

“We are elated to unveil our collaboration with ETAP, marking the inception of a transformative era in car insurance. By harnessing the power of gamification, we are poised to shift perceptions around car ownership and driving in Nigeria.

“This initiative will not only elevate the driving journey but also significantly enhance safety on our roads”.

The ETAP app uses machine learning to build intelligent risk profiles that determine appropriate premiums for each driver, allowing them to achieve lower premiums by driving safely, the company said.

By using advanced telematics, the driving experience is gamified to improve driving behaviour and drivers can earn Safe Driving Points that can be exchanged for shopping vouchers for the most in-demand retail outlets, fuel, cinema and concert tickets, and other exciting experiences, the company added.

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Zambian Tech authority orders Airtel to compensate subscribers over poor services

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The Zambia Information and Communications Technology Authority (ZICTA) has ordered Airtel Networks Zambia PLC to commence the process of paying compensations to all its subscribers over poor and inefficient services.

According to local media reports, the mobile telecommunications giant has been experiencing network and service outages in most parts of the country which has led customers complaining about the poor services.

The agency, which has the mandate of overseeing the telecommunications industry in the country, gave the directives in a statement in Lusaka on Fruday through its Corporate Affairs Manager, Hanford Chaaba.

Chaaba said the payment of compensation to affected subscribers was in line with the approved compensation policy within five days from December 8.

“The Authority has also directed the network provider to, using all available platforms, immediately engage the public regarding the recent network outages and provide assurance of their resolution,” Chaaba said.

He added that the network provider had been further directed to urgently put in place measures that would ensure that such outages were averted, promising that the agency would increase its monitoring of the network.

In the statement, Chaaba encouraged members of the public to continue reporting any issues related to unavailability and quality of network or service.

He also urged Airtel to submit a longterm plan on how to improve it network resilience to the authorities.

“The Authority will actively monitor network performances of all services providers to ensure that the Quality of Service (QoS) guidelines are strictly adhered to,” Chaaba said.

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Egyptian online auto parts startup Mtor raises $2.8m funding

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Egyptian online auto parts startup, Mtor, has announced raising $2.8 million in pre-seed funding to enable it expand its product portfolio to digitise local car workshops in the country.

Co-founder and CEO of the startup, Mohamed Maged, who made the announcement, explained that with the funds which were secured from Algebra Ventures with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and a number of local and global angel investors, the firm was set to expand its offering.

“With the new funds, we aim to become the most trusted partner for our mechanics by empowering them to better cater to the car owner’s needs in terms of quality parts and fast service,” Maged said.

“It can be a car owner’s nightmare to get their car serviced. Mtor was founded to fundamentally transform this reality and make the process easier and more efficient, empowering a layer of local car workshops that are well rounded with quality parts, a suitable price position, and a good customer experience.

“The local automotive aftermarket is inefficient with a fragmented and scattered supply chain. Workshops and mechanics face many challenges, including limited product availability, inaccurate fitment data, and a lack of price transparency.

“These issues inevitably trickle down to car owners, who are also faced with limited-service quality guarantees and a complex, time-consuming spare parts procurement process.

Mtor aims to overhaul this system through its controlled, tech-enabled marketplace, backed by its proprietary Mtor Mechanic app, where pricing, availability, and fitment data are reliably just a click away,” the CEO stated.

He added that the funds raised would be used to further grow Mtor’s product suite, digitise local car workshops, and eliminate major inefficiencies in the automotive spare parts supply chain in Egypt and the region.

Founded in 2022 by Maged, Moaz El-Megharbel, Mohamed Altaf, and Khaled Kandil, Mtor provides a unified platform for local car workshops and on-demand automotive spare parts at reasonable prices.

It has delivered over 70,000 orders, partnering with over 2,500 car workshops in the greater Cairo area, according to the company’s profile on its website.

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