Jubilee-NxtPe enhances insurance accessibility and penetration

Jubilee Life Insurance has registered marked growth in usability on its NxtPe platform, indicating a strong appetite for innovation within the sector. To date, approximately UGX 700 million worth of transactions have been processed through the payment management solution from several customers who have already embraced it. 

Rolled out last November, NxtPe is an innovative platform that accelerates the payment process and supports automatic policy reconciliations with speed, enhancing effectiveness.  It supports a variety of payment methods, including one-off payments, standing orders, and standing order cancellations, making it flexible and adaptable to diverse client needs. 
According to Adrine Twinamatsiko, Customer Experience Manager, Jubilee Life, NxtPe was designed with accessibility at its core, particularly for underserved and unserved market segments. By utilizing a mobile-first approach, the platform has eliminated the need for physical visits to agency offices and cumbersome paperwork. 
“The platform has been especially impactful for individuals in rural areas or those without easy access to traditional banking infrastructure. 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,” elaborated Ms. Twinamatsiko. 
Jubilee Life Insurance has explored various approaches and synergies to ensure that NxtPe enhances convenience and reaches underserved markets. These include digital marketing and mobile app partnerships with Airtel Uganda and soon MTN Uganda, as well as direct agent distribution networks in remote areas and phone marketing through WhatsApp messaging, among others. 
Acknowledging that fraud poses the greatest threat to digital and online financial innovations, Twinamatsiko revealed that various safeguards have been implemented to ensure customer protection to maintain the integrity of the transaction process. 
“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, among others,” she said.
The rollout of NxtPe followed an extensive needs assessment that incorporated various methods, such as detailed surveys, in-depth focus groups, and candid client feedback sessions. This thorough process revealed a substantial segment of our customer base yearning for a more streamlined and user-friendly premium payment experience. This is the gap that NxtPe has filled well, for which Jubilee Life Insurance was awarded 2nd runner-up for the most innovative Life Insurer solution during the just-concluded Insurance Regulatory Authority Innovation Awards – 2024.