Airtel Money Kenya, in collaboration with Britam and Inclusivity Solutions, has forged a strategic partnership to introduce an unparalleled range of inclusive insurance solutions tailored to meet the diverse needs of individuals and families. This groundbreaking alliance seeks to transform the insurance landscape by offering affordable, relevant, and easily accessible comprehensive coverage, all at the fingertips of Airtel Money customers. Additionally, this initiative is dedicated to extending insurance benefits to the millions of Kenyans who have historically been excluded from such services due to issues of access and affordability.
The foundation of this collaboration lies in providing Airtel Money customers with the unprecedented convenience of acquiring insurance coverage by simply dialing *334# on the Airtel network. This enables Airtel Money customers to select from three innovative benefits: Hospital Cash, Last Expense [Funeral], and Personal Accident covers, either individually or in combination.
The Hospital Cash [Hospicash] cover stands as a significant offering, providing policyholders with a daily cash payment of Kshs 500 for each night spent in the hospital from the third day onwards, up to a maximum of 30 days annually. This safeguard serves to mitigate income loss and medical expenses incurred during hospitalization. The coverage is attainable at an affordable monthly premium of KES 40 for individuals and KES 170 for a family of up to four members.
In a similar vein, the Last Expense cover has been thoughtfully designed to alleviate the financial burdens that accompany funeral costs in the unfortunate event of a customer’s passing. This solution extends a lump sum payout of Kshs 100,000, offering essential support to beneficiaries who must manage income loss, outstanding bills, and burial expenses. The Last Expense benefit comes at a modest monthly premium of KES 40 for individuals and KES 170 for families of up to four members.
Complementing these offerings is the Personal Accident cover, which provides vital protection to customers in case of Permanent Disability or Death stemming from an accident. This benefit guarantees a predetermined payout of Kshs 100,000 to the customer or their next of kin, thus ensuring financial stability during challenging times. The Personal Accident cover is obtainable at a monthly premium of KES 35 for individuals and KES 150 for families of up to four members.
Customers have the flexibility to choose any of the aforementioned benefits or opt for the comprehensive Combo Benefit, which seamlessly integrates Hospital Cash, Accidental/Natural Death, and Permanent Total Disability covers into a unified package, thereby providing comprehensive protection for the insured and their loved ones. The Combo Benefit carries a monthly premium of Ksh 100 for individuals and Ksh 420 for families.
An aspect that truly sets these insurance solutions apart is their inclusivity, catering to individuals across all age groups, with a minimum entry age of 18 years and a maximum joining age of 65 years. The plans also offer the added advantage of covering up to four dependents, fostering a culture of protection within households.
The claims process mirrors the user-friendly approach of these insurance solutions. Customers can initiate a claim by dialing *334# from their Airtel line and following the straightforward instructions provided.
Anne Kinuthia – Otieno, the Managing Director of Airtel Money Kenya, expressed her enthusiasm about this partnership, highlighting its capacity to revolutionize the insurance sector and make it more accessible and customer-centric. She emphasized that this collaboration aligns perfectly with Airtel Money’s commitment to enhancing financial inclusion and empowering customers with affordable financial products and services.
Britam’s Director of Partnerships and Digital, Evah Kimani, shared her delight in joining forces with Airtel Money Kenya and Inclusivity Solutions, remarking on the opportunity to provide innovative and affordable insurance solutions that protect the dreams and aspirations of their customers.
Inclusivity Solutions CEO, Indira Gopalakrishna, also expressed her enthusiasm for the partnership, underscoring the role of technology in delivering this innovative digital insurance solution.
This tripartite partnership among Britam Insurance, Airtel Money, and Inclusivity Solutions serves as a testament to their commitment to advancing financial inclusion and offering affordable and convenient insurance solutions to the underserved population in Kenya who have traditionally lacked access to formal insurance offerings.