Market News

AAR, Kenya Women ink insurance deal

Mwangi Githaiga
KWFT managing director Mwangi Githaiga. PHOTO | DIANA NGILA | NMG 

AAR Insurance has tapped into Kenya Women Microfinance Bank (KWFT) 800,000 customer-base through a partnership for a microinsurance product Afyafit.

The Sh19,800 a year product will see a family of six enjoy a Sh75,000 outpatient cover, Sh500,000 for inpatient, maternity limit of Sh100,000 while the dental and optical limit is set at Sh10,000 for each family member.

KWFT managing director Mwangi Githaiga said the product aims to ease the financial burden for a large number of their clientele who lack medical cover in 45 counties.

“Out-of-pocket settlement of medical bills has impoverished many families with some disposing of their assets to pay medical bills,” he said.

To excite uptake, the KWFT said it would fund premium payments up front with AAR standing in as the scheme administrator where Bliss Healthcare, which has 200 clinics countrywide, will provide healthcare services to the AfyaFit clients.