Award Applications

Who we are

Founded in 2015 Inclusivity Solutions is a digital insurance technical service provider. Based in Cape Town, South Africa, Inclusivity Solutions is comprised of an internationally renowned executive team with experience in over 40 countries. The company designs, builds and operates digital insurance solutions for emerging markets with the aim of protecting and enhancing the quality of life of vulnerable people.
The problem we are trying to solve
Emerging consumers are particularly vulnerable to risk and have limited resources to draw upon in times of need. Insurance is meant to insulate against risk, but traditional products, distribution models, and administration processes are often ill-suited and uneconomical for serving these consumers. For example, according to the 2016 Finscope report, only 9% of Rwandan adults are covered by insurance leaving 91% of the adult population unprotected.
With mobile phone penetration residing at 65% (GSMA) in emerging markets, insurance can now be offered digitally through a mobile operator. This channel offers the advantages of having access to a large customer base, a payment mechanism that scales, and the ability to leverage a brand that is trusted and recognised.
In March 2018 two new digital insurance products were launched with leading mobile operators in Kenya and Rwanda. Riziki Cover was launched by Kenyan mobile virtual network operator (MVNO) Equitel and Ingoboka Cash was launched by Airtel- Tigo Rwanda. Inclusivity Solutions, was responsible for designing, implementing and operating both products.
About the products
Both products are structured as hospital cash offerings whereby the product pays the registered subscriber, who meets the requirements, a fixed cash amount for each night spent in hospital, following three consecutive nights or more spent in hospital.
1a. Riziki Cover (loyalty offering) is available to loyal Equitel subscribers at two compensation levels of Kshs 400 or 800 per night spent in hospital, depending on the value of airtime used or the value of mobile banking transactions made.
1b. Riziki Plus Personal or Family Cover (premium offering)
i. The Personal Cover premium of Kshs 140 per month entitles Equitel users to a cash payout of Kshs 2,500 per night spent in hospital.
ii. The Family Cover premium of Kshs 620 per month entitles equal cash payouts of Kshs 2,500 per night to the subscriber in case the subscriber or any dependents are hospitalised for three nights or more.
1c. Partnerships:
• Inclusivity Solutions - lead partner responsible for the design, build, implementation and continuous innovation of Riziki Cover
• Equitel, Equity Insurance Agency - lead partner responsible for the product brand, marketing/educational campaign, and customer support
• Britam Micro Insurance Business - local insurance company responsible for underwriting the policies and supporting claims
FAQ - https://www.equitel.com/riziki-cover/riziki-cover-faqs
2a. Ingoboka Cash y’ubuntu (loyalty offering) is available to loyal Airtel-Tigo subscribers at compensation levels of Rwf 4,000, 8,000 or 12,000 per night spent in hospital depending on the value of airtime used per month.
2b. Ingoboka Cash yishyuwe (premium offering)
• The Personal Cover premium of Rwf 800 per month entitles Airtel-Tigo users to a cash payout of Rwf 20,000 per night spent in hospital.
• The Family Cover premium of Rwf 3,200 per month entitles equal cash payouts of Rwf 20,000 per night to the subscriber in case the subscriber or any dependents are hospitalised for three nights or more.
2c. Partnerships:
• Inclusivity Solutions - lead partner responsible for the design, build, implementation and continuous innovation of Ingoboka Cash
• Airtel-Tigo Rwanda - lead partner responsible for the product brand, marketing/educational campaign, and customer support
• Radiant Insurance Company - local insurance company that will be underwriting the policies and supporting claims
• Access to Finance Rwanda. Subsidised the Human Centred Design and focus group research underpinning Ingoboka Cash, consumer education and traveling road shows.
FAQ - http://www.tigo.co.rw/ingoboka-cash-faqs
Headline results to date (as of 21 May 2018)
Riziki Cover:
• Total registrations = +80,000
• Active policies /lives covered = +52,000
• Subscribers who had registered for insurance recorded significantly higher increases in ARPU in the three months after they had registered for the product, as compared to those who had not registered for insurance.
• Insurance registered mobile banking subscribers performed significantly more transactions than non-registered subscribers
Ingoboka Cash:
• Total registrations = +107,000
• Active policies/lives covered = +51,000 (In the space of just six months Ingoboka Cash has already covered one third of all recorded microinsurance policies in Rwanda for 2015. Microinsurance Landscape 2016)
• Value of claims paid = Rwf 16,000,000
• Ingoboka Cash is currently the only mobile-based insurance product available to Rwandans
• These two testimonials/success stories offer examples of the profile of customers that the product is attracting and impacting: Theoneste Nizeyimana, Consolée Yankurije
Why are these products innovative?
Digital insurance in emerging markets by its very nature equates to innovation. The context within which it exists is characterised by limited data, lower income consumers, large unbanked populations, and challenges with reach in rural areas. This requires new methods of distribution and more cost effective ways of doing things.
Digital insurance solutions such as Riziki Cover and Ingoboka Cash offer an opportunity for mobile operators to address existing challenges and drive new business such as reducing customer churn, increasing average revenue per user (ARPU), and introducing new revenue streams.
Innovative features of the Inclusivity Solutions offering:
• The Inclusivity Solutions design approach is based on the principles of Human Centred Design. Intensive market research is done in field with consumers to determine the most relevant types of insurance cover, mobile user interfaces, marketing campaigns, payment methods etc. to create customised mobile insurance offerings for each market. This is coupled with robust data analytics after product launch which allows for continual refinement.
• The underpinning Inclusivity Solutions ASPin technology platform allows claims to be submitted via Whatsapp and email, reducing out of pocket costs required to submit claims.
• By connecting ASPin to the mobile operator’s system, the insurance service is able to scale, enabling the management of millions of policies