Airtel and Radiant Yacu have joined forces to introduce Ingoboka Cash, a pioneering digital insurance product aimed at enhancing medical insurance services in Rwanda.
This collaboration is part of a broader initiative to digitize and modernize the insurance sector in the country.
Ingoboka Cash comprises two distinct options tailored for Airtel Money customers, focusing on hospitalization coverage.
The two options available under Ingoboka Cash are Ingoboka Kashi Y’ubuntu and Ingoboka Kashi Y’ishyuwe.
Ingoboka Kashi Y’ubuntu gives a free Hospital cash cover to Airtel subscribers who purchase airtime or bundles of a total of Rwf750 and above every month, Ingoboka Cash Y’ishyuwe, on the other hand, allows customers to purchase their preferred level of coverage for themselves and their families.
These products provide eligible subscribers with a payment of up to Rwf 6,000 for every night spent in the hospital from the third day up to a maximum of 30 days a year.
The funds are paid upon discharge from the hospital. Many households lose income whenever the breadwinner gets hospitalized and therefore the product aims at compensating customers for part, or all the income lost during hospitalization.
Airtel Money’s Managing Director, Jean-Claude Gaga emphasized the significance of Ingoboka Kashi in driving the digital transformation of Rwanda’s insurance landscape: “Ingoboka Kashi represents our commitment to enhancing the access to health insurance through innovative digital solutions. This product is designed to grow uptake of insurance solutions and contribute to the overall well-being of our customers.”
The initiative also aims to address Rwanda’s low insurance uptake , which has historically remained below 1.7%, Ovia Tuhairwe, Chief Executive officer of RADIANT YACU expressed optimism about Ingoboka Cash’s potential to boost insurance uptake and competitiveness in the market as she highlighted the product’s role in making insurance more affordable and accessible.
She said, “Ingoboka Kashi will enable us to offer cost-effective insurance options while safeguarding individuals from unforeseen hospitalization expenses. Our primary duty as a microinsurer is to ensure that when life takes an unexpected turn, we are there to provide swift and effective support.
This innovation underscores our commitment to delivering efficient and responsive insurance solutions.”
Inclusivity Solutions’ Head of Operations emphasized the importance of digital solutions in expanding insurance coverage for Rwanda’s population: “Digitization is key to providing inclusive insurance solutions that mitigate risks and improve livelihoods, particularly for low-income communities.
“The partnership between Inclusivity Solutions, Airtel Money, and Radiant Yacu exemplifies a concerted effort to accelerate insurance penetration through innovative digital platforms.”