ICEcash has developed a web-based solution for the insurance industry to issue electronic cover notes for motor vehicle insurance.  This solution has been adopted industry wide and with effect from 1 May 2016 Zinara will no longer accept paper based cover notes as proof of insurance for licensing purposes.  When Zinara issues a licence, the Zinara Platform queries the ICEcash platform, which returns the insurance information for that particular vehicle. This solution not only eliminates fake cover notes, but ensures that vehicles licensed have valid insurance for at least the duration of the licensing period.  In addition to this, the ICEcash Electronic Cover Note platform manages financial settlement between the various stakeholders, including the payment of the Government Levy to the Road Traffic Safety Council, Zimra (Zimbabwe Revenue Authority) for the stamp duty as well as the payment of commissions to brokers and agents.

Traditionally insurance products have only been offered to people employed in the formal sector, as collecting monthly premiums from people in the informal sector is very difficult and not cost effective.  ICEcash has developed a platform that specifically caters for this and monthly premiums are collected via a debit order. This has been done for the Evolution Insurance Group.   All unfulfilled debit orders are reported to the insurance company and their agents can contact the individuals to ensure that they load value into their ICEcash account to avoid losing the insurance cover.  This type of platform opens up many opportunities to a market sector that traditionally has been denied access to these types of financial services products.