By Andrew Nkolola
CEO of aYo Zambia
aYo Zambia has received recognition for the Most Innovative Ecommerce Product in Zambia by the Institute of Finance and Economics in October 2022 and followed that up in November 2022 with three awards at the Pensions and Insurance Authority Industry awards: Micro-insurance product of the year, Best Customer Centric Experience, and Product and Service Innovation of the Year.
aYo’s success in Zambia stems from its simplicity in offering, ease in accessibility and affordability of cover, all stemming from linking insurance to actual customer needs and general consumer behaviour.
aYo was launched in Uganda in January 2017, and has spread its operations to Ghana, Zambia and Côte d’Ivoire. It is also readying itself to officially launch in several major markets where MTN and Sanlam have a footprint, as it evolves into a key player in the African microinsurance market, using a ‘pay as you go’ insurance model that gives policyholders the flexibility to have the cover they need at any given time.
aYo services are available to all MTN Zambia subscribers via their mobile phone by simply dialing *296# and thereafter selecting their insurance package of choice. Claims are also intimated and processed digitally and paid into the customers Mobile money wallet timely.
The aYo Zambia team is led by Andrew Nkolola who is Chief Executive Officer at micro insurer aYo Zambia, a subsidiary of aYo Holdings, 50% joint ownership by MTN and Sanlam that provides affordable, easy-to-use insurance products to more than 2.5 million Zambians.
Andrew holds a Bachelor of Arts degree in Public Administration from the University of Zambia and is an alumni of the International Microinsurance Master Program class of 2019.
Andrew has more than 16 years’ combined experience in the mobile payment solutions and life insurance sectors, with a strong track record of business development, underwriting and premium accounting in the Zambian market.
Before joining aYo in December 2019, he headed strategy and operations for Innovate Life Assurance, with a clear focus on corporate and retail partnerships, business development and strategic planning. He previously held senior and middle management positions at ZSIC Life Limited and African Life Assurance respectively.
