Affordable medical insurance launched via Safaricom
VALUE ADDED SERVICESBy BiztechAfrica - 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
Safaricom marks 7 years of M-PESASafaricom is marking the 7th anniversary of the launch of its successful mobile money transfer service, M-PESA. Read More
SA’s Net1 launches MVC solution in USSouth African-based Net1 Mobile Solutions, a business unit of Net 1 UEPS Technologies, has launched its Mobile Virtual Card (MVC) technology with selected partner, Pay in Private, in the United States. Read More
NSE introduces enhanced notification system via mobile, emailThe Nigerian Stock Exchange has enhanced its notification system, with alerts to be sent to investors by phone or email each time they buy or sell a security. Read More
Digital music worth $9bn this yearMahindra Comviva and Ovum Consulting predict that India, Africa, Latin America and South East Asia will be exceptional markets for digital music growth. Read More
MasterCard, Etisalat celebrate award-winning partnershipEtisalat Group, the leading telecoms operator in the Middle East, Asia and Africa, has celebrated an enduring partnership with MasterCard that has brought award-winning technologies to the market. Read More
Airtel Kenya to empower farmers via mobileAirtel Kenya has established a Farmer's Information System to provide real-time information to Kenyan farmers through its mobile network in the country. Read More
MTN, ECOBANK expand cardless mobile money ATM servicesGhana's leading telecommunications provider, MTN and Ecobank, The Pan African Bank, have partnered to extend cardless ATM services to Ecobank ATMs across Ghana. Read More
Annual wagers on mobile casinos, poker to exceed $60bn in 2018A new report from Juniper Research has found that annual wagers via mobile handsets and tablets on casino-type gambling and poker games are expected to reach $62 billion globally by 2018. Read More
MoboFree gets growth funding from eVentures Africa FundNigeria’s MoboFree has raised significant growth funding from Netherlands based eVentures Africa Fund (eVA Fund) in order to expand its local presence in Lagos and Accra, start new offices in East Africa. Read More
CfC Stanbic unveils M-Pesa payments for businessesKenyan banks are reported to be scrambling to leverage Safaricom’s mobile banking platform, M-PESA, to attract more customers. Read More
FEATURED STORYMACRA demystifies spectrum management
Malawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports.
BEST READ NEWS
IN DEPTHYouthConnekt launches Mobile Apps for Human Development Challenge in Rwanda
Rwanda’s Ministry of Youth and ICT and the UNDP, in close collaboration with Motorola Solutions, will power a Mobile App Challenge that will be implemented by YouthConnekt.