Over 1 million people have been registered under Turaco, a tech-insurance cover targeting low income earners unable to access alternative medical cover ,a year since its launch in Kenya.
The plan which offers flexible support for hospital stays, was first piloted in January 2024 in collaboration with M-Kopa, under which individuals who buy smartphones bearing the M-KOPA brand are instantly eligible for a free 12-month inpatient health plan, which pays Ksh1,000 daily for each night they are admitted to a Ministry of Health-approved public or private hospital.
According to Martin Kingori, M-Kopa’s General Manager, integrating insurance into M-KOPA’s smartphones was motivated by a mission of delivering more than just a phone.
“We understand that traditional insurance models often fail to serve our customers – with high premiums, complex processes, and delayed payouts,” said Kingori
“By making insurance both accessible and affordable, we’re helping our customers build resilience against financial setbacks, keeping their progress on track,” he added.
According to Ted Pantone, the CEO and co-founder of Turaco, 60% of daily wage earners would have to spend their savings or sell an asset if they were hospitalized without insurance, and another 25% would have to take out a loan to cover their medical bills.
In the last six years, Turaco has insured over 3.5 million people by working with partners like M-KOPA to create seamless, tech-enabled solutions.
“From instant policy activation to fast claims payouts, we’ve focused on simplifying access and usage of insurance coverage making it a vital financial safety net for our customers.”concluded Pantone
By KBC Digital
