Airtel insurance cover for Kenyans: Picking up after Safaricom might be a good strategy for Airtel
After Safaricom made data bundles expirable and limited, Airtel was quick enough to launch Unliminet SMS and data bundles that let you keep browsing even after your bundles run out. For the daily package, a subscriber only needs to load ksh50 airtime which in return you get the 100MB of mobile data, 20 min talk time to any network and 100 SMS to any network which according to my colleague Odipo Riaga, that is deal enough.
Airtel has also been a back-up plan for many when talk tariffs get tight on the other side of communications. In more layman terms, Airtel has over the years been a rebound when times get hard with Safaricom. Not new at all, Airtel has done it again. Picked up after Safaricom.
The telecommunication company has partnered with Pan Africa life Assurance Limited and MicroEnsure to launch a free insurance product which will offer Airtel customers in Kenya life, accident and hospitalisation insurance with increasing benefits based on their monthly airtime usage.
This comes one month after Safaricom detached itself from the infamous Linda Jamii an Insurance health cover targeting the underserved low-end in the society. The insurance however did not make the expected returns for both Britam and Safaricom which is why it was wise for the companies to terminate it.
Back to the newest insurance health cover in town, tagged Airtel Insurance, the cover is open to all Kenyan residents of 18 years and above. The product covers all hospitalization for any medical reason with no exclusions, making it a user friendly hospital insurance cover. Its availability on the Airtel mobile platform makes it also an accessible free insurance cover in the country. The product benefits users whose hospitalization period is up to three or more nights at a hospital.
Airtel Insurance cover rewards loyal Airtel customers with a free, renewable monthly life, accident and hospitalization cover based on the amount of monthly airtime used. Airtel Customers will qualify for this insurance by using as low as Sh.250 airtime each month, with the opportunity to gain incremental insurance benefits with increased monthly airtime usage. The product being free; no airtime will be deducted from a customer’s balance for the insurance cover making the product work like a loyalty reward from Airtel.
How to access it
Airtel Insurance becomes active on the first day of month following registration, and is based on the amount of airtime recharged the previous month, with a minimum monthly usage of Sh.250. Airtel customers will be required to simply dial *336# from their mobile phones to choose a favorable package.
Customers have a variety of packages to choose from. A monthly usage of Sh. 250, Airtel insurance gives the customer Sh.1,000 hospitalization and Sh.10,000 life and accident insurance while Sh.500 usage will earn customers Sh.2,000 hospitalization and Sh.25,000 life and accident insurance. A Sh.1, 000 usage will attract Sh.5, 000 hospitalization and Sh.100, 000 life and accident insurance. Finally, a Sh.2, 500 usage or above will attract Sh.10, 000 hospitalization and Sh.250, 000 life and accident insurance.
Stephen Kamanda who heads Pan Africa Life Assurance added that the design of the product was heavily advised by the firm’s desire to continuously play a part in increasing penetration of insurance, which stands at a low of just above 3%, in the Kenyan population. ‘’Statistics show that over 70% of our adult population own a mobile phone. The eminent gap, together with the need to provide life insurance which is a fundamental financial need to a fast growing economy like ours is what motivated us to bring this solution to market.