Page 56 - State-of-the-Industry-2013
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State OF the induStry 2013
Figure 20
life vs. nonlife insurance Policies (June 2013)
24%
LIFE
NON-LIFE
76%
TexT BOx 15
using m-Pesa mobile moneY “rails”
to enhance healthcare access*
Kenya, the “home of M-PESA,” has been a hub for innovation at the intersection of health and mobile fnancial services (MFS). With
M-PESA providing the “rails” upon which value-added services can be built, a variety of health-related mobile fnance oferings
have emerged in Kenya and Tanzania. From pre-paid savings to health insurance, mobile platforms are striving to ensure afordable
healthcare is not solely a luxury; but rather, a universal right.
MOBILE HEALTH INSURANCE FOR THE BASE OF THE PyRAMID
Changamka Microhealth Ltd. launched the Linda Jamii platform, in partnership with Safaricom and Britam insurance company,
which ofers mobile microinsurance to low-income individuals. Through the platform, customers can save money on their phone and
purchase health insurance once they meet a certain savings threshold.
* This text box was adapted from a blog post by Julienne Lauler of Mondato, published on the MMU website on May 23, 2013
Marketing and distributing mobile insurance
Customer acquisition for mobile insurance is relatively sophisticated and providers must rely on a large sales force, which can provide
necessary customer education when acquiring new customers. in Bangladesh, the number of mobile insurance policies initiated
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exceeded 2m in june 2013, demonstrating the ability of the mobile insurance industry to provide insurance coverage to large numbers of
underserved people in developing markets. in the case of Bima life insurance Service in Bangladesh, a large sales force of 800 dedi-
34
cated agents, and an outbound call centre team of 40-50 agents was required to drive sign-ups, resulting in high acquisition costs. in
Senegal, tigo hired a feld force of over 40 foot soldiers to individually educate and register customers to its life insurance services tigo
Kiiray. a dedicated outbound call centre follows up with each registered customer to ensure they understand the product, know how to
make a claim, and keep the policy active by spending the required minimum amount on tigo’s network
33. mobile insurance policies initiated: when a customer signs up / opts-in for an insurance policy, vs. live or in-force policies which are maintained either by paying a premium or meeting a predefned airtime spend.
34. http://www.bimamobile.com/robi-axiata/
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