Airtel Money has forged a transformative alliance with insurance provider Britam and innovative InsurTech startup, Inclusivity Solutions, to extend essential insurance coverage to millions of underserved Kenyans who lack access to traditional insurance offerings.
Airtel customers can now access a range of insurance policies, including Hospital Cash, Last Expense (Funeral), and Personal Accident coverage, by simply dialing the USSD code *334#. This strategic partnership aims to bridge the insurance gap, safeguarding individuals and families against diverse risks that could jeopardize their financial stability and overall well-being.
Evah Kimani, Director of Partnerships and Digital at Britam, expressed the collective aspiration to reach a vast segment of the Kenyan population who currently lack formal insurance protection. The collaboration envisions extending essential safeguards to this underserved demographic, bolstering their resilience against unforeseen challenges.
The Hospital Cash coverage offers policyholders a daily cash benefit of $3.48, applicable for up to 30 days annually. Monthly premiums start as low as $0.24 for individuals and $1.18 for families of up to four members. Similarly, Last Expense and Personal Accident cover premiums begin at $0.28 per month for individuals, with family coverage rates at $1.04 and $1.19 for up to four members.
Anne Kinuthia-Otieno, Managing Director of Airtel Money Kenya, emphasized the profound impact of this collaboration, stating that it aligns with their mission to enhance financial inclusion and offer accessible, cost-effective financial products and services. By leveraging Airtel Money, the partnership aims to democratize the insurance industry, making it more user-friendly and efficient.
Indira Gopalakrishna, CEO of Inclusivity Solutions, expressed her enthusiasm for this partnership, underscoring its potential to create positive change and bring insurance benefits to the previously underserved population.
