Inclusivity Solutions brings digital insurance to East Africa through partnerships with Equitel Kenya and Airtel-Tigo Rwanda

Digital insurance specialist Inclusivity Solutions has launched two new digital insurance products with leading African mobile operators: Equity Bank’s Equitel in Kenya and recently merged Airtel-Tigo in Rwanda.

Equitel’s Riziki Cover and Airtel–Tigo’s Ingoboka Cash, offer subscribers hospital cash cover to individuals and families who are hospitalised.  The offers are being extended as both a free loyalty cover as well as an optional, higher value premium cover.  Pivotal to the development of these initiatives was Inclusivity Solutions strategic partnership with Reinsurance Group of America (NYSE:RGA), who is serving as the lead reinsurer for both products. 

The Riziki Cover and Ingoboka Cash products were designed using the Human Centered Design methodology, ensuring the low-cost products are simple to use, easy to understand and address the identified consumer priority of health in both countries. 

By spending as little as USD $1 per month on airtime, consumers can receive a cash payment for every night spent in hospital if they are hospitalised for three nights or more.  These payments can greatly help low-income families alleviate the financial stress of loss of income or other day-to-day expenses incurred while sick, such as food and transport costs. 28-year-old Ingoboka Cash claimant, Consolée Yankunije, was one such beneficiary who received RWF 140,000 (USD $164) for her time spent in hospital following surgery. “My husband went to the local Tigo branch and with their guidance we completed the claim form and received RWF 140,000 in cash. I was speechless; the large amount enabled us to pay for the surgery, to buy good quality food for the baby and to pay school fees for my oldest daughter.”

Commenting on the firm’s momentum, Jeremy Leach, CEO of Inclusivity Solutions said “With insurance penetration residing at 2.8% in Kenya and 1.7% in Rwanda, and mobile phones being ranked as the second fastest distribution channel for insurance in Africa, the opportunity to drive financial inclusion through innovative digital products is significant. 

We are honoured to be able to play a role in delivering real social impact through these two initiatives and look forward to introducing similar products to other emerging markets in the future.”

Riziki Cover and Ingoboka Cash are underwritten by local insurers, Britam Insurance Company and Radiant Insurance Company, respectively.