Affordable medical insurance launched via Safaricom
VALUE ADDED SERVICES| Jan. 23, 2014, 4:48 p.m.
Safaricom limited, Britam and Changamka Micro-insurance have jointly launched an affordable micro-insurance health cover which will widen the bracket of the population with access to medical insurance.
The health insurance product known as Linda Jamii is an affordable and comprehensive medical cover that will provide a family premium cover at an annual subscription of KES12, 000 for a cover valued at KES 290,000.
The cover will cater for in and out patient, maternity, dental, optical, a hospitalisation income replacement benefit of Kshs.500 per day to take care of lost income while in hospital and in the case of death, funeral expenses.
Linda Jamii has adopted a micro-saving model which will use M-PESA as the premium collection platform. Through M-PESA, one can pay premiums in installments and can access partial benefits after accumulating KES 6,000 in contributions.
“Kenya has for a long time been accused of lacking a culture of adopting insurance. However we believe that the real reason that 97% of the population caters for their medical expenses out of pocket, is because of the cost of insurance premiums. Therefore, Linda Jamii is to medical insurance what M-PESA is to financial services. They both promote inclusion,” said Safaricom CEO Bob Collymore.
Statistics indicate that only 3 percent of the Kenyan population has health insurance-mainly employer based policy- meaning about 38.8 million Kenyans have no health insurance.
“Linda Jamii has been tailor made to ease the medical burden particularly for people working in the informal sector. This product will enable them to access medical care in more than 600 hospitals countrywide and our goal is to grow that to 1000 by mid this year,” said Britam’s Group MD Benson Wairegi.
The idea of Linda Jamii was conceived by Changamka which recognized that many Kenyans were being locked out of the medical cover bracket by the cost of the medical packages on offer.
“The vast majority of the Kenyan population does not have a steady income. Subsequently, they cannot afford the premiums of existing medical covers which in essence leaves quality healthcare as the reserve of a privileged few. The introduction of Linda Jamii is therefore meant to fill this gap and shatter this medical cover glass ceiling thus allowing more Kenyans to access and enjoy better healthcare,” said Changamka CEO, Sam Agutu.
One can register for Linda Jamii in all Safaricom shops, Uchumi and Postbank outlets as well as select M-PESA agents countrywide. The policy covers persons from age 18-75 years at entry, children under 18 years are also covered through their parents.
MORE VALUE ADDED SERVICES NEWS
TNM pays K19.9m with mobile insuranceMalawian mobile network service provider TNM has announced that it has paid a total of K19.9 million worth of claims to beneficiaries of TNM Moyo Cover, the operator’s on-mobile life insurance policy. Read More
DRC mobile banking faces challenges in remote areasIsidore Monga is a civil servant whose salary, like millions others in the Democratic Republic of Congo (DRC), is now being paid via mobile banking. Read More
Orange, Bank of Africa to offer new mobile financial services in AfricaIn the coming months, Bank of Africa and Orange Money customers will be able to transfer money directly from their Orange Money account to their BOA account and vice versa simply with their mobile. Read More
Over 20m airtime advances through PasavuteNet1 Mobile Solutions in partnership with Supa Pesa, has serviced more than 20 million airtime advance requests for the advance airtime service Pasavute from Telekom Networks Malawi (TNM). Read More
Smart wearables market to generate $53bn hardware revenues by 2019New findings from Juniper Research revealed that the global retail revenue from smart wearable devices will treble by 2016, before reaching $53.2 billion by 2019, compared to the $4.5 billion expected this year. Read More
MFarmer SMS redefines market access for Ugandan farmersUgandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. Read More
University of Yaounde I adopts MTN Mobile MoneyMTN Cameroon has signed a partnership agreement with the University of Yaounde I for the use of the MTN Mobile Money solution by students for their financial transactions with the university. Read More
Agents say Glo Xchange will empower NigeriansAgents of Nigeria’s super mobile money agent network, Glo Xchange have commended Globacom for the platform which is aimed at deepening financial inclusion and promoting Nigeria’s electronic payment system. Read More
Tigo Tanzania launches mobile money savings serviceMillicom-owned Tigo Tanzania has launched Tigo Wekeza - “Tigo Invests” - the world’s first mobile money service that allows customers to earn automatic returns on their balance. Read More
MasterCard, Apple to Integrate Apple Pay Cardholders for mobile paymentApple has unveiled Apple Pay that will enable MasterCard cardholders to use their iPhone 6, iPhone 6 Plus and Apple Watch for everyday purchases. Read More
FEATURED STORYMFarmer SMS redefines market access for Ugandan farmers
Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures.
BEST READ NEWS
IN DEPTHNIG President speaks his mind
Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.
COMPANY NEWSSAP innovation transforms how Governments conduct business
SAP Africa kicked off its public sector innovation roadshow in Johannesburg, to highlight how the SAP innovation solutions portfolio including, cloud and big data, supports all levels ...