Britam, an insurance company, has joined forces with Airtel and Inclusivity Solutions, a digital insurer, in a strategic alliance. This collaboration aims to introduce mobile-based solutions that cater specifically to low-income families and micro, small, and medium enterprises (MSMEs). In this groundbreaking partnership, the focus is on providing comprehensive coverage to segments of the population that are often overlooked. The coverage encompasses a range of risks, including loss of income due to hospitalization, accidents resulting in death or disability, and funeral expenses in case of demise.
Read more: Britam Holdings, MTek Launch Digital Protection Cover Targeting MSMES
This innovative initiative will offer customers access to three distinct products through their mobile devices, namely the Hospital Cash, Last Expense, and Personal Accident covers. Each cover serves to address different aspects of financial protection. For instance, the Hospital Cash cover ensures policyholders receive a daily cash benefit of Kshs 500.0 for hospital stays lasting three or more days, up to a maximum of 30 days per year. This not only helps with medical expenses but also safeguards against income loss during the hospitalization period. Premiums for this coverage start as low as Kshs 35.0 per month for individuals or Kshs 170.0 for families of up to four members.
The Last Expense cover offers financial support of Kshs 100,000.0 to beneficiaries upon the assured’s natural demise. This sum aids in covering income loss, outstanding bills, and burial expenses associated with funerals. The monthly premiums for this cover commence at Kshs 40.0 for individuals and Kshs 170.0 for families of up to four members.
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Finally, the Personal Accident cover provides a predetermined payout of Kshs 100,000.0 in the unfortunate event of permanent disability or death resulting from an accident. This coverage helps policyholders and their families navigate the challenges of unexpected accidents. The premiums for the Personal Accident cover begin at Kshs 35.0 per month for individuals or Kshs 150.0 for families of up to four members. Customers will have the convenience of making their monthly payments via the Airtel Money Wallet directly into Britam’s account. This collaboration not only demonstrates the merging of digital solutions with insurance services but also highlights a commitment to serving the financial needs of those often underserved in the market.
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