Vo­da­com de­vice in­sur­ance drives surge in rev­enue

RISKSA Magazine - - CR -

Vo­da­com’s latest an­nual re­port doc­u­ments a surge in rev­enue from its in­sur­ance di­vi­sion in South Africa, led by de­vice in­sur­ance. The com­pany an­nounced its fi­nan­cial re­sults for the year ended March 2015 and re­ported a recorded 36 per cent in­crease in its in­sur­ance busi­ness that of­fers con­tract, life, fu­neral, and other in­sur­ance cover. While over­all South African ser­vice rev­enue de­clined 2.7 per cent to R47 bil­lion, in­sur­ance-re­lated rev­enue grew to R441.4 mil­lion, from R324.6 mil­lion in 2014. The mo­bile op­er­a­tor be­gan selling in­sur­ance af­ter the Fi­nan­cial Ser­vices Board (FSB) granted them a long-term in­sur­ance li­cence in 2012. The group’s mo­bile cover ranges be­tween R35 for a phone with a value of up to R1 000, and R245 for phones be­yond R15 000. The num­ber of ac­tive smart data de­vices on Vo­da­com’s net­work in­creased 29.7 per cent to 11.6 mil­lion – of which 9.3 mil­lion are smart­phones, 1.1 mil­lion are tablets and 1.2 mil­lion are modems.

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