Wednesday 11 May 2016

Motor Insurance : Insurance companies go digital

Insurance companies and Zinara have introduced electronic covernotes for motor vehicle insurance. So if you follow the news you have probably bumped into this statement from Zinara: 

“The Zimbabwe National Road Administration (Zinara) in conjunction with insurance companies would like to notify all motorists, transporters, companies and the public that for their convenience, Zinara and insurance companies will implement the computerisation of third party motor insurance cover with effect from May 1 2016,”

I have to say I personally pleased with this move and you should be too. If you are still wondering what this means I  will explain. Before the beginning of this month (May 2016), when you bought motor insurance you used to be issued with a manual  covernote on paper from a book that produced carbon copies. This has since been replaced by an electronic copy which will be machine printed when you get your Zinara licensing.

How is this going to benefit you, you might ask.  The electronic covernote will prevent you from buying fake insurance. The insurance market had been flooded with a lot of fake insurance policies which were very tempting for the ordinary car owner. However getting these fake policies meant one was not able to get the full benefits of insurance. Because motor insurance is now issued electronically you are guaranteed that you will get authentic insurance and all the benefits that are due from the policy in the event of an accident.

Thumbs up to everyone who was involved in this development!