A tripartite agreement between Nib Bank, its independent offshoot Nib Insurance, and ride-hailing company Yango allows drivers to access insurance services with premiums settled through weekly trip bonuses. Drivers can make monthly premium payments themselves or have Yango settle the amount with the insurer based on their earned trip bonuses. Announced at Nib’s headquarters on Wednesday, the partnership also lays the groundwork for potential credit services set to be provided by the Bank for drivers.
Tewodros Mehari, Deputy Manager at G2g IT solutions (Yango’s partner in Ethiopia), says they want to minimize the trouble their drivers face when dealing with the fallout after an accident occurs. He indicated plans to introduce a courtesy car arrangement allowing drivers to access a vehicle if their own becomes immobilized in an accident.
“Car repair could take several months,” Tewodros told Shega.” We don’t want our drivers to lose their livelihood in the meantime.”
Courtesy car provisions are part of the insurance package offered by some companies primarily based in Europe. Tewodros also relayed Yango’s intentions to provide drivers with financial assistance equal to what they would earn had their car not been damaged.
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