Set up for the rapid collection of insurance premiums and the payment of claims by mobile money and bank cards, the Cinetpay technological platform exchanges monthly nearly 6.5 billion FCFA (approximately 12 million USD) with more than 600,000 transactions secure, according to company officials.
Given the slowness of the repayment of insurance premiums to companies paid by an insured to the Ivorian Mutual Insurance Company (Sidam), which sometimes went beyond a week, Idriss Marcial Monthe, director general of the firm Cinetpay, created this solution. Who also carries out the collection process with the operators to satisfy the end customer.
“We have made a commitment to be able to make repayments within 24 hours through digital services and to allow insurers to pay insurance premiums more easily, which in its time was difficult … We collect funds which are subsequently housed in the Cinetpay merchant back office. What is interesting with us, if you belong to a partner bank in our firm, the same day you have your funds available directly in your bank account. It is the customer experience that we want to be able to perfect, “explains Sales and Marketing Director Amani Jean Rodolphe.
Created in 2016, this platform is present in the eight WAEMU countries. With a view to digitizing the entire payment process in insurance activities in order to be closer to the populations, she often organizes discussion meetings with companies to explain the merits of this solution to them.
