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Mobile insurance key in roping in bottom of pyramid
The rapid uptake of mobile phones and mobile wallets across the continent offers an effective channel for the distribution of insurance. FILE PHOTO | NMG
If you visit healthcare facilities in both rural and urban areas, one observation is the proliferation of posters offering financial aid, screaming messages such as “instant credit, loans within 48 hours”. It is by design and not accident that microfinance institutions and other credit companies find customers in hospitals.
Being sick in Kenya is an expensive affair, with most patients being unprotected by health insurance leading to a dependence on fundraising through mechanisms such as loans to offset medical bills.
