Finance

Big South African insurer launches mobile operator

Old Mutual has launched a Mobile Virtual Network Operator (MVNO) service ahead of the launch of its bank at the beginning of 2025. 

The insurance giant will be offering competitive mobile services designed to meet the needs of today’s dynamic and connected world, it said in a statement. 

Old Mutual said it would target customers in the lower-income segment market by providing customers with “unparalleled value in data packages”.

“The launch of the MVNO service, which will be known as Old Mutual Connect, is a part of our Integrated Financial Services (IFS) strategy to deliver tangible value-added services to our customers,” CEO designate of OM Bank Clarence Nethengwe said. 

Nethengwe is also the managing director of Old Mutual’s Mass Foundation cluster and is expected to lead the bank’s charge when it launches early next year.

“Affordable data and reliable connectivity are critical for our customers in the Mass Market to fully participate in the mainstream economy. It is also an important enabler for our customers to interact with the rest of our propositions digitally,” he said.

“Our MVNO will be leveraging a multi-operator core network agreement to deliver reliable and highspeed mobile services.”

The insurance giant said it has utilised its deep understanding of the mass market to deliver a proposition that will meet these customers’ core needs. 

Old Mutual Connect’s proposition includes:

  • Easy access to SIM cards and data. For R5, customers can get a SIM card from any Old Mutual branch. Customers can also buy data and airtime from various channels, including branches, partners, and digital.
  • Unparalleled value from a variety of data bundles that can be personalised to individual needs.
  • Simple onboarding, with hassle-free assistance, is available to RICA your SIM or port your number at any Old Mutual branch near you.
  • Reliable and trusted network coverage is set to be provided with access to solid and reliable LTE network coverage across the country, leveraging Old Mutual Connect’s partners’ infrastructure.

Old Mutual Connect’s data deals comprise:

  • Sign up bundle – Activate your SIM and get a free 1 GB of data.
  • Double-up bundle promotion – Two-for-one data bundle when you purchase any data product, get an additional purchased bundle for free.

“Old Mutual has been committed to delivering exceptional products and services that enhance the lives of its customers,” Nethengwe said. 

“The launch of the MVNO product is a testimony of how far we are committed to go to ensure that our customers’ needs are fully met.”

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