M-KOPA Kenya and Turaco Insurance Agency have announced that they have provided health insurance to over 1 million Kenyans in just one year.
The health insurance comes built into M-KOPA smartphones at no extra cost as part of their More Than a Phone digital financial services offering.
After successful trials in January 2024, Hospital Cash coverage was rolled out with the M-KOPA X-20 smartphone in June 2024. Every M-KOPA smartphone now includes 12 months of coverage, enabled through M-KOPA and Turaco’s connected systems. Customers receive Ksh 1,000 per day when admitted overnight to any Ministry of Health registered hospital, public or private.
“Our More Than a Phone digital financial services offering has been enhanced by our partnership with Turaco,” said Martin Kingori, General Manager, M-KOPA Kenya. “By listening to our customers, we understand how unexpected medical expenses can derail their progress. Insurance provides that crucial safety net, keeping them on track toward their goals. This insurance benefit aligns perfectly with our mission to finance progress for ‘Every Day Earners,’ and through partnerships with purpose-driven providers like Turaco, we’ll continue to impact more lives across Kenya.”
The impact of this insurance benefit is best illustrated by customers like Boniface Mutiso: “Insurance was the biggest reason why I picked my phone… I received Ksh 7,000 two days after my claim, straight to my mobile money. This cover helped me cater for my family needs after I was discharged.”
“At Turaco, we are on a mission to make insurance more accessible and affordable. Our vision is to insure the next billion people, doubling the number of insured people in the world. Our partnership with M-KOPA is a powerful example of the role partnerships can have in driving towards that vision and transforming lives of people who want and need insurance,” said Ted Pantone, Turaco CEO. “This milestone highlights how embedding insurance into everyday products can drive meaningful impact and financial resilience for Kenyans.”
Turaco and M-KOPA are set to expand their health insurance offering to additional markets, beginning with Ghana.