Kenya: YuMobile goes into micro insurance
yuMobile has created a unique insurance scheme that gives a life and disability insurance cover to its pre-paid subscribers.
Dubbed ‘yuCover’, the product offering is underwritten by Jubilee Insurance and powered by MicroEnsure.
It rewards yuMobile subscribers with a renewable monthly life and disability cover based on the amount of airtime re-charged each month. As an introductory offer, yuMobile is extending this Insurance for free up to October 31, after which a nominal fee is applicable.
Subscribers can qualify for the insurance by topping up as little as Sh100 of airtime each month and as they increase their monthly top-up, they earn more insurance cover – with, up to a maximum of Sh60, 000 of insurance cover, per month.
SOURCE: Standard Digital