Enabling digital insurance take off
AFR is partnering with Inclusivity solutions (Fintech), Radiant Insurance Company and Tigo (Mobile Network Operator) to design, build and operate innovative insurance products for low to middle-income consumers across Rwanda that leverage mobile channels to reach greater scale. The project will leverage unique opportunities that Inclusivity Solutions can provide to educate and grow an insurance market through loyalty (free) insurance products, which will be offered based on mobile usage behavior. While creating this strong foundation, upsell (paid) products will also be offered to make the model commercially sustainable.
Furthermore, the project team will explore bundling opportunities with other financial and non-financial services to deliver increased value to consumers and help drive uptake. With completion of the project in two years, we expect to register 300,000 paid insurance policies.