NAIROBI, Kenya July 22 – Jubilee Health in partnership with M-TIBA & Solution Sacco has launched a comprehensive and affordable health insurance cover in a bid to advance insurance penetration across Kenya.
Dubbed “Solution Afya medical scheme”, the cover with a minimum premium of Sh4,265 annually, comes with an inbuilt maternity cover, last expense, and personal accident cover.
In the scheme, users will sign up and manage their health policies through M-TIBA’s mobile platform.
Solution Afya members will also access periodic medical checkups, health and wellness programs and trainings geared towards disease prevention in an effort to contribute to their socio-economic empowerment.
Jubilee Insurance Group Chief Executive Officer Julius Kipngetich noted that embracing digitization will lower the cost of insurance products and enable consumers meet their health needs.
“The pandemic resulted in a priority reset with most individuals focusing on their spending habits, health, and wellness. Despite the changing priorities, consumers across the world are under financial pressure because of the increased cost of living. Ensuring health insurance is affordable and accessible is a high priority for Jubilee Health,” Dr. Kipngetich said.
Majority of healthcare expenses are paid out-of-pocket in Kenya. This not only hinders access to quality care but also exposes households to poverty in cases of increased medical bills.
Financial constraints and lack of knowledge on insurance products are the biggest barriers to insurance uptake. Utilization of digital platforms is key in creating understanding and increasing insurance uptake.
“With the large digital shift in the recent past, it is only correct that we bring affordable insurance solutions closer to the fingertips of our customers. Continued collaborations between different healthcare players will ensure more people are granted access to effective, reliable, and very affordable insurance solutions across the board,” said MTIBA Managing Director Moses Kuria.
Solution Sacco Chief Executive Officer Daniel Marete noted that affordable premiums as well as leveraging digitization will increase the distribution of insurance products and ultimately extend insurance penetration in Kenya.
“High premium cost has been one of the hindrances to insurance uptake in Kenya. Through this partnership with Jubilee Health and M-TIBA, we have set up a cover that meets the different health needs of our members. We are delighted to empower our SACCO members access quality health cover without breaking their banks,” Marete noted
