Airtel Money users now have the capability to directly buy comprehensive insurance coverage through the mobile money platform, following Airtel’s collaboration with Britam and insurtech company Inclusivity Solutions.
The collaboration aims to expand insurance advantages to millions of Kenyan individuals who have been left out of such services, primarily due to limitations in accessibility and affordability.
“We are thrilled to partner with Britam Kenya and Inclusivity Solutions to bring these innovative insurance solutions to our customers. By leveraging the power of Airtel Money, we are revolutionizing the insurance landscape, making it more accessible, efficient, and customer-friendly, ‘’ Anne Kinuthia – Otieno, Managing Director of Airtel Money Kenya said.
Britam’s Director of Partnerships and Digital, Evah Kimani, said, ‘’Through this partnership, we aim to reach out to millions of Kenyans who do not have access to formal insurance and provide them with protection against various risks that can affect their livelihoods and well-being.”
Airtel Money customers can access three innovative benefits – Hospital Cash, Last Expense (Funeral), and Personal Accident cover – by simply dialling *334# on the Airtel network. They also have the option to choose a combination of these benefits.
The Hospicash Cover, priced at $0.28 per month for individuals and $1.18 for families, offers policyholders a daily cash benefit of $3.48 for each night spent in the hospital from the 3rd day, up to a maximum of 30 days annually. This coverage safeguards against income loss and medical expenses.
For the Last Expense Cover, available at the same monthly rates, individuals and families can find relief from the financial strain of funeral expenses in case of the customer’s unfortunate passing. This plan entails a lump sum payout of $696.38, providing necessary assistance to beneficiaries for managing income loss, outstanding bills, and burial costs.
The Personal Accident cover, on the other hand, safeguards customers in the event of Permanent Disability or Death resulting from an accident. This benefit provides a predetermined payout of $696.38 to the customer or their next of kin, ensuring financial security during challenging times. The benefit is available for a monthly premium of $0.24 per month for individuals or $1.04 per month for a family of up to 4 members.
The Combo Benefit merges Hospital Cash, coverage for Accidental or Natural Death, and protection against Permanent Total Disability into a unified plan. This all-inclusive package ensures extensive security for both the policyholder and their family members. The monthly premium for the Combo stands at $0.70 for individuals and $2.92 for families.
These insurance offerings are accessible to individuals aged 18 or older when they join, with an upper joining age limit of 65 years. Additionally, the plans come with the extra benefit of including coverage for up to four dependents, promoting a robust sense of safeguarding within families.