Equitel Subscribers to Benefit from a Mobile-Based Insurance Cover

Equitel subscribers will now have access to a mobile-based insurance product, called Riziki Cover.

Riziki Cover is meant to ease the financial burden associated with lost daily income from one’s employment or personal business in case they are admitted to a hospital.

The Cover has been introduced through to a partnership between Equitel, Equity Insurance Agency, leading insurer Britam as well as a technical service provider, Inclusivity Solutions.

It is accessible to Equitel subscribers who use airtime from 100 shillings or make Mobile Banking transactions worth 1,000 shillings or more per month.

Equitel subscribers can activate Riziki Cover by dialing *745#. In case of hospital admission for a period of three consecutive nights or more, a registered subscriber who meets the requirements will receive a fixed payout for every night spent in a hospital.

The cash payout will be 400 shillings per night for a subscriber who uses airtime from 100 or makes Mobile Banking transactions worth 1,000 shillings or more per month. The cash payout will double to 800 shillings for a subscriber who uses airtime from 100 shillings and makes Mobile Banking transactions worth 1,000 shillings or more per month.

“We are proud to introduce this unique service to all our Equitel users who can now secure their daily earnings through Riziki Cover.  It is easy and convenient to sign up and offers benefits that are accessible instantly. Our subscribers will now have peace of mind as they focus on getting back to full health in the event of sickness or injury,” said Jack Ngare, the Managing Director of Finserve Africa.

“Riziki Cover is the first step in our digital journey. With this innovative product, our customers can buy insurance and register claims using their mobile phones. We are excited to roll-out this product in partnership with Equitel, Britam and Inclusivity Solutions. This is the global trend whereby services are being offered digitally and through devices,” said David Muchiri, the General Manager of Equity Insurance Agency.

Britam Micro Insurance has said that the partnership will facilitate the provision of the cover to more people.

Equitel subscribers can upgrade their cover to ‘Riziki Plus Personal Cover’ or ‘Riziki Plus Family Cover’ by paying monthly premiums of 140 shillings and 620 shillings per month respectively.

For these premium products, Equitel users will receive a cash payout of 2,500 shillings per night for hospitalization of three consecutive nights and above on the Riziki Plus Personal cover and an equal cash payout of 2,500 shillings per night will be given to the subscriber in case any of his/her dependents (a registered spouse and children who are under 18 years are hospitalized for three nights and above through the Riziki Plus Family Cover).