Old Mutual Life Assurance has announced a strategic partnership with fintech disruptor NxtPe and Airtel Mobile Commerce Uganda Limited (AMCUL), the mobile money arm of Airtel Uganda, to introduce a more efficient and accessible method for paying life insurance premiums. The partnership marks a significant milestone in Uganda’s journey toward greater financial inclusion and digital transformation in the insurance sector.
For years, paying life insurance premiums in Uganda often involved cumbersome processes, such as manual bank standing orders, long queues at branches, or reliance on intermediaries. These methods were not only time-consuming but also prone to missed payments due to delays or restricted banking hours.
According to Joshua Akena, Head of Operations at Old Mutual Life Assurance, the newly launched platform eliminates these barriers by allowing customers to pay premiums instantly via Airtel Money. More importantly, it introduces automated recurring payments, enabling policyholders to set up standing orders directly from their mobile wallets.
Joshua Akena Head operations, Old mutual Life Assurance
Akena said this innovation empowers users to manage their policies conveniently from anywhere in the country such as their homes, at work, or on the move.
“We know that life is busy, and managing financial obligations can be overwhelming, and that is why we have made it easier for our customers to stay on top of their premiums. With just a few taps on their phones, they can now make instant payments or set up automatic deductions through Airtel Money,” Akena said.
He noted that the platform not only simplifies premium payments but also ensures uninterrupted coverage—an essential feature that gives customers peace of mind.
He said the integration of Old Mutual’s insurance services with mobile wallets aligns with Uganda’s national agenda of accelerating digital financial inclusion, adding that the partnership supports this vision by bridging the gap between insurance and digital finance.
“By bringing together mobile wallets and life insurance under one seamless solution, we are contributing to the broader goal of improving financial accessibility across the country. This is not just about convenience, but about empowering people to take charge of their financial futures,” he said.
According to Japhet Aritho, Managing Director of AMCUL, the collaboration is another step in Airtel Money’s mission to extend the benefits of financial services to every Ugandan, regardless of geography or income level.
Japhet Ariho- MD Airtel mobile Commerce Uganda Limited (AMCUL)
“Whether you’re deep in a village, in the market, or commuting in the city, you can now pay your insurance premiums with complete ease. Automatic standing orders eliminate the risk of missed payments, and that kind of peace of mind is priceless,” he said.
Airtel Money has over 12 million active mobile wallets across Uganda, a number that continues to grow as the platform expands its reach to underserved and unbanked communities.
It should be noted that Uganda’s life insurance penetration remains low—currently under 1% of GDP, trailing behind regional averages. Experts believe that simplifying premium collection through mobile channels could increase policy renewals by up to 30% within the first year, while also attracting younger and more tech-savvy demographics.
Nxtpe Business Partner -Neelesh Pratap singh.
To make a payment, Old Mutual customers can simply visit https://kora.nxt.pe/oldmutual and follow the simple on-screen instructions for a seamless transaction experience.
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