Technology

mTek in deal to offer affordable health insurance

bente

Bente Krogmann, Chief Executive Officer of digital insurtech platform, mTek Services. PHOTO | POOL

Kenya’s digital insurance platform, mTek will provide affordable international health insurance cover in East Africa through a partnership with The Unisure Group, a global insurance company based in England.

For Sh200,000 per person annually, organisations — and individuals, in the near future — can access international private health insurance plan through the Umatter product, which is underwritten by MUA Insurance Kenya.

Under the Umatter policy, clients taking both the ‘serious matters’ and ‘daily matters’ options can add any other modules into their plans.

This means they will have the flexibility to add family matters, opti-denti matters and/or wellness matters to their individual plan.

mTek’s chief executive officer Bente Krogmann said the partnership is an indicator of investor confidence and growth prospects of insurtech in the East African region.

“Our belief in paperless insurance has enabled us to provide our clientele with a wide range of personalized insurance products. Through our partnership with MUA Insurance Kenya and Unisure, we will now be able to provide our clients with unique international health care and protection,

“With an overall annual limit of Sh540 million access to worldwide medical care, and unparalleled customer service, Umatter strikes the perfect balance between being cost-effective and providing top international benefits and services” said Ms Krogmann.

Since 2019, mTek has revolutionised customer experience through the elimination of laborious insurance paperwork.

Together with its partners, it has provided over 65,000 Kenyans with access to affordable comprehensive health care coverage for a monthly fee of Sh1,000.

The insurtech market has seen growth with the rise of connected devices to financial services even as more companies seek business efficiency.

Globally, the insurtech service market is expected to grow from $8.07 billion in 2021 to $10.42 billion in 2022.

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