Center for Health Market Innovations (CHMI)

Programs

Co-operative Insurance Company of Kenya Limited (CIC) - Micro health insurance for vendors

last updated Sep 27, 2011

Overview

Implementation Partner(s): 
National Hospital Insurance Fund
Legal Status: 
Private (unspecified)
Year Launched: 
2008
Stage: 
Pilot/startup stage
Summary: 

In 2008, CIC launched a micro-insurance package for vendors and other informal sector workers in Kenya - an estimated target market of 5 million people.

Key program components: 

This CIC product offers a comprehensive package that covers up to KES 100,000 (USD 1400) in case of death, up to KES 30,000 (USD 430) for funeral expenses, and a weekly income for two years in case of total disability.

An additional component is a medical benefit scheme. Here, CIC is partnering with the National Hospital Insurance Fund to provide a family package for inpatient services in private, government and mission hospitals. CIC estimates that premiums will be within the range of USD 0.14 to USD 0.21 a day (between USD 52 and USD 78 per year) depending on an assessment of risk and the extent of benefits sought. This micro-insurance product will be available to organized groups of up to 10 individuals. Each member of the group will be expected to exert peer pressure on other members to ensure continuity in the payment of premiums.

The project is first being piloted with vendors at Nairobi's Muthurwa Market. Evaluations of the pilot's success will determine the timeline and extent of a broader launch.

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