Airtel Money, Britam and Inclusivity Solutions Partner to Offer an Affordable Insurance Cover to Lower Income Families
Lilongwe, 24th May 2023 Britam Insurance has partnered with Airtel Money and digital insurance solutions provider – Inclusivity Solutions, to offer an affordable mobile enabled insurance cover dubbed – ‘Limodzi Insurance’, targeting lower income families, protecting them against several risks including loss of income for small retailers or individuals and their families, who have been hospitalized or involved in accidents injuries.
For as little as K150 per month, customers can choose several options under the Limodzi cover, either the personal accident benefit cover, which reimburses them for accidental injuries or loss of body parts and disability, or the Hospital cash cover which pays them daily cash in case of hospital admission of 2, to a 30 days. Alternatively, a client can choose a combination of both covers depending on their requirements and affordability.
To register for this new insurance cover, Airtel Money customers are simply required to dial *211#, select 5 and thereafter choose the cover they prefer and make their monthly payment using their Airtel Money into Britam’s Account.
Similarly, to make a claim, customers can simply dial *211# from an Airtel line and submit the necessary documentation including a medical report from a Ministry of Health (MOH)-accredited hospital via a whatsapp number 0987 809 920
Britam Chief Executive officer, Wales Meja said: “Most Malawians are under-insured or not insured at all, which leaves them quite vulnerable. Our aim with the launch of this product is to make sure Malawians access insurance services at an affordable price. More importantly, we want to offer a solution that meets the needs of the large uninsured population in Malawi,”
Meja further added that Collaboration amongst insurance sector players in the development of customized products was key to increasing penetration amongst the uninsured.
“We believe that technology plays a vital role in the provision of customer-specific insurance products. Additionally, lower income families can enjoy the seamless purchase of ‘Limodzi Insurance’ and process claims conveniently thus enabling them to concentrate on more pressing issues.
In addition, we have been able to develop bundled products that cover multiple risks faced by our customers as opposed to selling many products to one customer,”
According to Airtel Money Director Brighton Banda, adding insurance products to Airtel Money’s expansive product and service portfolio bridges the gap between insurance policy providers and our 4 million Airtel Money customer base.
‘Limodzi Insurance’ now brings peace of mind against accident’s including hospital cover, closer to families and households regardless of distance or location, all through the Airtel Money mobile money wallet.
For one to be covered under ’Limodzi Insurance’, the Principal member and their Spouse should be aged between 18 and 65, and Children from 30 days to 24 years.