In Ghana and Tanzania, the mobile provider Tigo offers micro-insurance for healthcare. For the implementation, Tigo joined forces with Swedish micro-insurance company Bima. Worldwide, Bima provides 7 million people with health, accident and life insurance, and is active in Africa, Asia and Latin America. Anybody who buys a Tigo SIM card can register themselves for health insurance, and a further family member will also be covered by the policy. For a monthly top-up of around 0,30 US-dollars, the customer can increase the insurance coverage to 485 US-dollars. Without this additional fee, the payout is determined by the monthly prepaid credit usage, and varies between 100 and 500 dollars. The mobile phone user can simply register, and is informed via SMS about their monthly insurance level. Bima takes care of processing enquiries, and of payouts in the case of claims. A study by the National Insurance Commission in Ghana has shown that the Tigo insurance policies are the most successful insurance initiative in the country. To date, a total of 1 million people in Ghana have been insured. There are advantages for both sides – for Tigo, customer retention and loyalty increases; for customers, such a simple insurance policy is a first step toward more financial security and access insurance policies more broadly.
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