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
Terragon Group to unveil African-focused Mobile Advertising Technology at MWCNigeria-based Terragon Group is set to unveil its dynamic data monetisation and advertising platform, described as a first for mobile in developing markets, at MWC. Read More
MTN demonstrates the benefits of its video on demand offeringMTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering. Read More
Vodacom, Tigo agree on mobile money interoperabilityMillions of M-Pesa and Tigo Pesa customers in Tanzania will soon be able to send and receive money directly into each other’s wallets. This follows the recent signing of a mobile money interoperability agreement between Tigo and Vodacom. Read More
Airtel Ghana launches DOTGO SMS Web browsing serviceAirtel Ghana has deployed DOTGO’s SMS-based Internet service, which enables any mobile phone to be Internet-accessible without data or Wi-Fi. Read More
MoneyGram reaches 25,000 locations across AfricaMoneyGram has announced an agreement with Safaricom that enables consumers in over 90 countries outside Kenya to send funds directly to nearly 20 million customers of M-PESA. Read More
TrustPay defines new space in cashless payment, commerceTrustPay has officially launched a new range of innovative m/e Commerce merchant solutions it says are set to accelerate economic growth in developing markets. Read More
Econet launches Dial a DocEconet Wireless has launched a new service that will allow subscribers to access health advice 24/7 via a mobile phone. Read More
Multi-bank mobile money goes live in EthiopiaThe new interoperable HelloCash mobile money platform has gone live in Ethiopia, aiming to provide financial services to all Ethiopians. Read More
Mobile app makes work easier for health workersThe iAfya mobile health information app is gaining momentum in Kenya, as health workers increasingly use it to learn and to educate communities. Read More
FEATURED STORYMalawi Govt denies clinging to ‘Cashgate’ software
The Malawi Government will not exclude the software brand that has been in use for the country’s Integrated Financial Management System (IFMIS), but it has rejected reports implying that it is ‘clinging’ to the old system.
BEST READ NEWS
IN DEPTHKenya’s digital TV battle hots up
Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.
COMPANY NEWSMTN demonstrates the benefits of its video on demand offering
MTN showcased the benefits of FrontRow when it streamed high bandwidth video content onto multiple mobile devices using its video on demand (VOD) offering.VMware appoints Bask Iyer as chief information officer
VMware has announced the appointment of Bask Iyer to the role of senior vice president and chief information officer (CIO) of VMware.