Jubilee Insurance has developed Imarisha Jamii, a micro insurance product targeting low income earners. Formulated in partnership with Bluewave, the product, which will be accessed via the mobile phone, provides life, personal accident and disability insurance as well as medical insurance helping low income earners wade off poverty when health related risks arise.
Most low income earners earn their wages daily and when they are too sick to work, their families are often unable to meet their daily needs. Imarisha Jamii has been designed to mitigate against that as it provides hospital cash – for those who have been hospitalised for three nights or more and cover for death and disability.
Imarisha Jamii will benefit those in the lower middle class and poor households as it is affordable. With premiums as low as Ksh 20 per week, policy holders will access hospital cash, funeral benefits and disability cover, as follows:
- Up to Ksh 100,000 for funeral expenses in case of death
- Up to Ksh 100,000 for disability after an accident
- Up to Ksh 10,000 hospital cash when admitted for three nights or more
The product has no exclusions and covers everyone from ages 18-75. Imarisha Jamii can be accessed by dialing *643# on a mobile phone and following the prompts to sign up, make payments, access policy details and make claims.
Nicholas Mruttu, Head of Retail at Jubilee Insurance, says Imarisha Jamii is here to break the barriers that hinder access to affordable insurance. “We know that Kenyans work hard and in case of illness we don’t want them to be worried about loss of income. With Imarisha Jamii we’re providing a flexible and affordable insurance cover for everyone that is easy on the pocket and tailored to fit your finances, with monthly rates as low as Ksh 150, and weekly rates as low as Ksh 20.”
Many Kenyans often suffer when the unforeseen happens and they don’t have finances to mitigate the risks, such as illness, disability or even the death of the bread winner. Thus the primary beneficiaries of Imarisha Jamii will include those working in the Jua Kali sector, domestic workers, askaris, casual labourers and farm workers, among others.
On his part, Health Principal Secretary Peter Tum applauded Imarisha Jamii as an innovative product that is bringing all Kenyans into the insurance bracket and increasing insurance penetration in Kenya.
“The general public have mostly been locked out of insurance because of high premiums but this micro insurance product levels out the playing field and helps safeguard everyone against risks that may arise in their day to day activities. We all want assurance that our loved ones are provided for in the event that we fall sick and Imarisha Jamii is providing that assurance”
Julius Kipng’etich, the Jubilee Holdings Regional CEO, says Imarisha Jamii is a game changer as it is targeting those who think insurance is expensive. “With affordable premiums and ease of access using the mobile phone, Jubilee Insurance is not only disrupting the traditional model of providing insurance services but also revolutionising the way insurance business is conducted, by developing more products that are responding to our customer’s needs.”
Imarisha Jamii also has a Group, Family and Chama option that allows those in groups and with families to get cover for their dependents.
“We are committed to making sure that all Kenyans have access to the kind of insurance that they need to run their businesses and raise their families without worrying about losing everything when unfortunate unforeseen events happen” said Adelaide Odhiambo, Bluewave CEO.