Insurances are exploring new channels such as mobile apps to reach out to their customers. However their reach as of today is limited to smart phones leaving out the majority of the market, which has only feature phones in particular in emerging markets.

tecways has developed and is making a comprehensive tecMtransact platform available for banks and other providers, such as insurances to connect with its customers in a secure one-to-one communication with the capability to store any health or other insurance card in the platform. These new "mobile insurance cards" are becoming a secure interactive platform for insurer and its customer to issue policies, cross sell, up sell, resolve queries and to settle claims in a full digital manner with digital signature.

For the first time insurances will be able to fully automate its processes, thus being able to reach larger masses of the population and this in a fully secure manner, without any man-in-middle-attacks possible.

The bottom of the pyramid are not only unbanked but also uninsured. It is this segment of the population which requires insurance protection more than any other segment, since it has no assets to fall back and any calamity could lead to their complete financial ruin.

As part of the tecMtransact ecco system it will is easy to implement cross-selling solution between the various service providers to get access to a large consumer base.