Airtel has partnered with Pan Africa Life Assurance and MicroEnsure to launch a free insurance product for its subscribers. The offer cover life, accident and hospitalisation insurance with increasing benefits based on monthly airtime usage.
Airtel Insurance is packaged to deliver affordable insurance services and encourage insurance culture among Kenyans. The product is open to all Kenyan residents of 18 years and above. To register for the product, Airtel customers will be required to simply dial *336# from their mobile phones.
“This service would help make insurance available and accessible to a vast portion of the uninsured population in Kenyan,” said Airtel Kenya CEO Adil El Youssefi , adding said that Airtel Insurance is designed to make insurance affordable to the middle and low income earners who may not already have insurance policies.
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The product covers all hospitalisation for any medical reason with no exclusions, making it the most user friendly hospital insurance cover in Kenya. Its availability on the Airtel mobile platform makes it the most widely accessible free insurance cover in the country. The product benefits users whose hospitalisation period is up to three or more nights at a hospital.
Airtel Insurance will reward loyal Airtel customers with a free, renewable monthly life, accident and hospitalisation cover based on the amount of monthly airtime used. Airtel Customers will qualify for this insurance by using a minimum of Ksh250 airtime each month, with the opportunity to gain incremental insurance benefits with increased monthly airtime usage.
The product is free, the management says, with no airtime deducted from a customer’s balance, making the product work like a loyalty reward from Airtel. Airtel Insurance becomes active on the first day of month. Customers also have a variety of packages to choose from.
A monthly usage of Ksh250, Airtel insurance gives the customer Ksh1,000 hospitalisation and Ksh10,000 life and accident insurance while Ksh500 usage will earn customers Ksh2,000 hospitalisation and Ksh25,000 life and accident insurance. Ksh1,000, on the other hand will attract Ksh5, 000 hospitalisation and Ksh100, 000 life and accident insurance. Finally, a Ksh2, 500 usage or above will attract Ksh10, 000 hospitalisation and Ksh250, 000 life and accident insurance.
Mr Mugo Kibati, the group CEO of Pan Africa Insurance Holdings said the product that will revolutionise the way insurance is distributed through digital marketing. This is expected to increase penetration of insurance, which stands at a low of just above 3%, in Kenya. ‘Statistics show that over 70% of Kenya’s adult population owns a mobile phone.
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