Tigo in partnership with BIMA (known locally as MILVIK Tanzania) and Resolution Insurance, teamed up with leading media personality and mother of three, Zamaradi Mketema, to launch Bima Mkononi hospital with children inpatient cover on Tigo Pesa. The product offers affordable insurance to all Tigo Pesa customers and up to five children for just 750 Tsh per month per child.
Tigo Pesa can now add their children, aged 1 to 17, to their Bima Mkononi Hospital cover and receive 40,000 Tsh ($17usd) cash back for every night they may need to stay in the hospital. The product is 1,500 Tsh per month for the customer and an additional 750 Tsh per child, deducted automatically from the customer’s Tigo Pesa wallet every month, making it one less thing for customers to worry about. Claims are paid directly to customers’ Tigo Pesa wallet.
Berengere Lavisse, General Manager at MILVIK: “Since launching our hospital cover in 2016, our customers have asked us to improve our service and include a cover for their children at an affordable price; we have listened to our customer needs and together with our partners and Tanzania Insurance Regulatory Authority (TIRA), we have worked on launching this child cover. Our partnership with Tigo means we can offer our products at scale, exclusively for their customers and this is vital in enabling us to protect the future of more families. We are delighted to have Zamaradi onboard supporting as a brand ambassador, as a busy mother she understands the importance of ensuring your loved ones are covered when they need it most.”
Zamaradi Mketema, Bima Mkononi Brand Ambassador: “As a mother, I care about my children, I want all mothers and fathers in Tanzania to be able to use simple and affordable insurance products that protect their family and that’s what Bima Mkononi hospital with children offers. Having three small children also means being busy all the time so having a product that is simple to register for as well as being easy to pay and claim for is also incredibly important to me.”
Hussein Sayed, the Chief Officer – Mobile Financial Services, Tigo: “As part of our genuine efforts to better understand our customers and offer relevant innovations that suit their social context, we have engaged with IDEO.org on research to better understand how can we improve the Financial Inclusion, specifically for women and households, the outcomes of this research comes in line with the design set by the MILVIK team. Therefore, it pleases me to announce the enhancement of our Bima Mkononi product to our customers’ most loved ones, which is offered at affordable rates and is easy and quick to sign up to. Tigo is committed to accelerating the Financial Inclusion vision and mission, where insurance plays a pivotal part in achieving this, and we can proudly say we have taken another step forward in not only protecting the lives of our customers, but now also those of their most loved ones.”
Melchizedek Nyau, Operations Manager at Resolution Insurance: “As the Insurance underwriter of this product, our goal is to protect what is valuable to our customers by making sure we provide Insurance solution which is Dependable, Reliable, Appropriate and Transparent. Since launching hospital cover in 2016 we have been fulfilling our promise of paying claims really fast, within 3 to 5 days”.
Insurance penetration in Tanzania is low with only 15% of adult Tanzanians having access to insurance and insurance contributing to only 0.9% of the GDP. MILVIK, Tigo and Resolution are committed to contributing to the Tanzania National Financial Inclusion Framework (NFIF2 2018-2022) to deliver customer-centric financial products that meet the needs of customers to support livelihood improvement, as well as to continue to educate low income customers about how insurance works, in line with TIRA National Insurance Education Strategy (2016 -2020). Bima Mkononi insurance products are simple – meeting the needs of low-income customers that the traditional insurance sector has not addressed, providing very simple terms and conditions that are easy to understand.
Registration for the product is simple. Customers can register on their phones via USSD. Valid claims can be made through Whatsapp, email or Tigo branches and claims are paid within 3 days of receiving valid documents.