Equitel has announced today a new telephone bundle that will offer its customers both talktime and insurance cover.
This is a collaboration between Equitel, Equity Insurance Agency and Britam Microinsurance and Inclusivity Solutions.
The insurance cover is called Riziki and it is a mobile based insurance produced provided through Equitel and underwritten by Britam.
“This insurance cover secures daily earnings through a daily compensation to the customer in the event of admission in hospital for three days or more,” Equity says.
They are offering two options:
- For Kshs 1,249 per month, Equitel customers can enjoy 500 minutes of talk time across all networks plus a free Riziki cover of upto Kshs 2,500 a night in case of hospitalization.
- For Kshs 2,499 a month, you will get 1,000 minutes and a free Riziki cover for the subscriber and their family. The Equitel customer and any family member will receive upto 2,500 per day as compensation for any lost income when hospitalized.
According to Equitel, there are 280,126 Equitel subscribers on Riziki Cover and they want to use this offer to attract more Equitel customers to it.
According to the Communications Authority of Kenya, Equitel has over 1,882,440 subscribers as of June 2019. This means that only 15% of customers are on the Riziki Cover and Equitel wants to entice more users to take up the offer.
This is not the first time we are seeing a telco use insurance covers to entice their customers. Last year, Safaricom added an opt in option where Safaricom Fiber customers can pay an additional amount on top of their Fiber bundle price to pay for home insurance.