Jubilee Life Insurance has announced significant progress in expanding access to insurance services through its digital payment platform, NxtPe, with the company reporting over Shs700 million in transactions since its launch in November last year.
The innovation, which supports a range of payment options including one-off payments and standing orders, is being lauded for revolutionizing premium payment processes, particularly for clients outside urban and banking infrastructure.
“NxtPe was designed with accessibility at its core, particularly for underserved and unserved market segments,” said Adrine Twinamatsiko, customer experience manager at Jubilee Life Insurance.
“The platform has been especially impactful for individuals in rural areas or those without easy access to traditional banking infrastructure.”
Using a mobile-first approach, NxtPe allows customers to manage their life insurance policies remotely, removing the need for physical visits or paperwork.
Through the platform, clients can make payments using mobile wallets, access their statements instantly, and enjoy automatic policy reconciliations.
According to Twinamatsiko, the platform is not only increasing convenience but also playing a vital role in deepening financial inclusion.
“It allows for easy premium payments, instant access to one’s statement, and automatic policy reconciliations via mobile wallets, enhancing financial inclusion for those who were previously excluded from traditional financial systems,” she said.
Jubilee Life has invested in partnerships with telecom companies like Airtel Uganda and, soon, MTN Uganda to extend the platform’s reach even further.
It has also deployed direct agent networks and utilized WhatsApp-based phone marketing to connect with clients in more remote areas.
While celebrating the success of NxtPe, Jubilee Life also acknowledged the risks that accompany digital transformation, particularly around cybersecurity and fraud.
Twinamatsiko noted that the company has implemented a robust set of protective measures.
“Some of the measures in place include automated document verification systems, a dedicated team investigating suspicious claims, implementing security measures, limiting system access, conducting frequent audits by internal and external teams, and requiring dual approvals for changes to customer details and payments,” she said.
The launch of NxtPe followed months of research, including client feedback sessions, surveys, and focus groups, revealing a growing demand for a simplified, accessible insurance payment solution.
The innovation has since earned the company industry recognition, with Jubilee Life named second runner-up in the Most Innovative Life Insurer category during the 2024 Insurance Regulatory Authority Innovation Awards.
With the growing traction of NxtPe, Jubilee Life Insurance appears to be setting a new standard for digital service delivery in Uganda’s insurance sector, paving the way for a more inclusive future in life insurance coverage.