According to research, only an estimate of 20% Kenyans have any form of insurance coverage, even though Kenya has geared towards the Universal Health Coverage (UHC). Kyanda, a FinTech startup that offers digital financial services to both SMEs and individuals in Kenya, celebrates a breakthrough of supporting health insurance cover to thousands of our market consumers in Kenya through a strategic partnership with Turaco, an insurance company that offers all-inclusive insurance solutions for emerging markets, to help free our customers across the country from the fear of financial shocks caused by health risks.
In the beginning of 2022, Kyanda took the initiative to join forces with Turaco with the aim of bringing an urgent micro-health insurance package to our customers, dubbed Life and Hospital Cash Insurance, providing cashback in case of any inpatient or outpatient hospital admission and pays out to the next of kin in case the insured persons sadly departs this life. The insured persons under an individual package may also include family members at the same prices for each member.
Kyanda’s ingenious financing platform allows our customers to afford a health insurance cover, since they will be paying for it daily while accessing our services rather than paying for it monthly or yearly which makes it bulky when coming with most insurance offers, in which Kyanda will be able to achieve this by deducting charges for any monthly or annual subscriptions made to a customer’s account. The health insurance cover will be free of charge for all our customers for up to 3 months, herein, our customers will transition to paid products which will be sold via Turaco’s call center and on a recorded line. Our customers will also be able to claim via Call, Email or WhatsApp and receive cash sent to their preferred mobile money account within a maximum of 3 days.
Collins Kathuli, CEO and Co-Founder of Kyanda, said: “We are greatly honored for the partnership with Turaco to bring such a life-changing solution to our clients. Kyanda will always try to come up with innovative ways to create a positive impact to our customers and this shows the start of that goal.”