Kenyan insurtech startup Turaco has partnered Airtel Money and Prudential in Uganda to launch Hospital Sente, a low-cost hospital cash insurance product with funeral benefits, aimed at increasing access to insurance for underserved communities, and low-income individuals and families.
Turaco provides fast, simple and inclusive insurance solutions for emerging markets and is a distributor, broker and key customer interface between the underwriter and the consumer. Turaco achieves this by forming partnerships with leading tech-enabled companies with a large pool of emerging market consumers.
One such collaboration has been agreed with Airtel, with the new Hospital Sente product aiming to ease Airtel’s customers’ financial burden associated with hospital admissions and death. Hospital Sente offers beneficiaries a cash pay-out if they are hospitalised, and is designed to provide affordable coverage for unserved individuals and families conveniently through Airtel’s Mobile money platform by dialling *185*7*6#. The product is underwritten by Prudential Uganda.
“Most Ugandans today remain unreached by mainstream insurance, all while being the most vulnerable to financial shocks caused by illness, accidents and death. Strategic partnerships like these remain critical to enabling underserved Ugandans access to affordable insurance that provides a safety net in their times of need and ultimately peace of mind. I thank Airtel Money and Prudential for joining us in driving mass market insurance adoption in Uganda,” said Hamza Mutebi, general manager of Turaco.
