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Equity Bank insures customers  for lost income

Subscribers  will receive a fixed payout for every night spent in a hospital

Nairobi , March  6, 2018  Equitel subscribers will now have access to a mobile-based insurance product, called Riziki Cover, that will ease the financial burden associated with lost daily income from one’s employment or personal business in case they are admitted in hospital.

The Riziki,  a partnership between Equitel, Equity Insurance Agency, Britam as well as technical service provider, Inclusivity Solutions will cover  Equitel subscribers who use airtime from Kshs 100 or make Mobile Banking transactions worth Kshs 1,000 or more per month.

Subscribers can activate  by dialling *745#. In case of hospital admission for a period of three consecutive nights or more,  subscriber  will receive a fixed payout for every night spent in a hospital.

The cash payout will be Kshs 400 per night for a subscriber who uses airtime from Kshs 100 or makes Mobile Banking transactions worth Kshs 1,000 or more per month. The cash payout will double to Kshs 800 for a subscriber who uses airtime from Kshs 100 and makes Mobile Banking transactions worth Kshs 1,000 or more per month.

“Our subscribers will now have peace of mind as they focus on getting back to full health in the event of sickness or injury,” said Jack Ngare, the Managing Director of Finserve Africa.

“This is the global trend whereby services are being offered digitally and through devices,” said David Muchiri, the General Manager of Equity Insurance Agency.

Britam Micro Insurance has said that the partnership will facilitate the provision of the cover to more people.

“This goes a long way towards increasing insurance penetration. We now have the capability to cover over 1.8 million subscribers with the Riziki cover through a fast and efficient mobile platform,” said Charles Muyodi, General Manager, Britam Micro Insurance Business.

On his part, Jeremy Leach, Chief Executive, Inclusivity Solutions said that the launch of Riziki Cover is the start of an exciting new range of digital insurance products for Equitel.
 

“Through our expertise in designing, building and operating digital insurance businesses, we are thrilled to be able to launch this comprehensive digital insurance service with our partners, Equitel, Equity Insurance Agency and Britam” he added.

 

For more information please visithttp://inclusivitysolutions.com/

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