This archive report was first published on 9 May 2020.
On May 9, 2020, Nairobi headquartered Fintech firm 4G Capital announced a partnership with Kenya's micro-insurance startup, Turaco, to offer micro health insurance to their clients in Kenya.
The micro health insurance cover, which costs KSh1,000 per year for a 12-month policy, also caters for COVID-19 patients.
According to 4G Capital, the majority of its clients are traders operating within the informal sector, where one financial burden could put them out of business.
Turaco's insurance package is designed to ease the financial burdens associated with hospital admissions and death.
The cover caters for people who are hospitalized for three consecutive nights or more, or in the unfortunate event that they pass away.
Prudential Life Assurance Kenya Ltd. is the product's underwriters, with Ellard Insurance Agency Ltd. DBA Turaco being the distributor.
4G Capital, which began its operations in Kenya in 2013, has lent over 750,000 loans valued at $90 million.
