ALLIANCE Insurance and Lesotho PostBank (LPB) yesterday announced a new partnership that will allow for payment of insurance premiums through the LPB’s Khetsi mobile money platform.
Alliance Insurance chief financial officer, Mohapinyane Taole, said the deal would allow all their insurance policy premiums to be paid through LPB’s mobile money platform.
He said the groundbreaking partnership would enable both partners to reach new levels of service they have not managed before.
“We have made a deal with Lesotho PostBank to use their Khetsi platform to pay our premiums,” Mr Taole said.
“The deal is going to advance achievement of our mandate of our availing our services closer to wherever people live. It has always been a challenge to us to increase the number of payment platforms for our clients especially in remote parts of the country.”
He said the deal is expected to allow many people to access insurance services which they did not have before because of the shortage of payment options.
Mr Taole said the arrangement would also positively improve economic activity in remote parts of the country as people will not need to travel to towns to pay their insurance premiums.
“Through this deal, money will circulate within the local area to develop it through engagement of many Khetsi agents.”
For her part, LPB chief sales officer ‘Mathabo Tšehlo, said their relationship with Alliance was for the mutual benefit of their two sets of clients.
She said there would be no extra costs for customers to pay premiums using the platform. Paying through Khetsi will help clients obtain printed slips which they can use as proof of payment.
“We are proud of this partnership and we are confident that it will make it easier for people to transact. This is actually part of our mandate as a banking institution. This is the beginning of good things to come from our partnership with Alliance Insurance going forward.”
Launched by LPB in May 2019, Khetsi is a payment platform aimed at advancing financial inclusion among the unbanked population.
Ms Tsehlo said the deal would also contribute towards job creation through persons engaged as Khetsi agents. She said they currently have over 250 agents in different areas of the country.