MOTOR THIRD PARTY.
Service Cops Limited is the technology partner behind the Motor Third Party Insurance Platform. The Insurance Regulatory Authority (IRA) working with the Uganda Revenue Authority (URA) and other stake holders such as the Ministry of works and Transport have streamlined the Motor Third party Insurance acquisition through this platform in Uganda.
*The platform unifies the selling and processing of the Motor third party insurance in Uganda; providing industry reports and necessary analytics for stakeholders to make decisions
*The platform enables collection of tax revenue to URA; upon payment of the MTP Insurance the tax is automatically paid to the Tax authority hence providing efficiency
*Provides convenience by providing multiple channels of payment
* Fosters compliance since clear details of vehicles are required during payment.
*The solution has stopped any possibility of fraudulent MTP stickers
*Improved Claims process and Reduced Fraud case: There is a general outcry in the populace about Insurance companies not being able to compensate them yet they have consumed Motor Third Party Insurance. This is largely attributed to a huge fraud and forgeries network in the Motor Third Party space, which leaves a lot of unsuspecting consumers conned because the insurance companies are unable to compensate them in cases of forgeries. This project will go a long way in addressing this challenge.
*Traceability in the consumption of Motor Third Party Insurance: Owing to the Centralization of the consumption process and data, it will be easy to trace payments done for this service. This will go a long way in protecting the public, which in most cases may not even keep the records of payments once they get displaced or lose them.Linkage Benefits to Government: The collaboration of the various government agencies involved in the Motor Industry will bring about some benefits to government which will range from an improved regulatory framework, improvement of road safety, easier enforcement mechanisms and growth in government revenue.
*Real time payment gateway.
*Real time invoicing and reporting.
*Access to a management information system
Motor third tax payers.