Nirvoy Life opted by 1m customers

Nirvoy Life, a free life insurance product for Grameenphone customers has been opted by over one million customers. Nirvoy Life was launched in June 2013 and rewards Grameenphone subscribers with free life insurance based on the amount of airtime used each month. The product is underwritten by Pragati Life Insurance and powered by MicroEnsure Bangladesh. After one year in service it has 1.4 million people on board. Nirvoy is based on a simple philosophy of easy registration and hassle-free claim settlement. Depending on their monthly usage, a subscriber can earn coverage up to BDT 50,000 in the following month.So far GP has successfully settled 51 claims worth BDT 2 million. All claims have been settled within seven days. In many cases, claims have been settled within 24 hours, according to a statement.