Digital payments firm MobiKwik has partnered with Aditya Birla Health Insurance Company (ABHICL), to offer sachet health insurance plans at an affordable cost.
As part of their collaboration, the partners have initially rolled out a Cancer Protect Cover that can be availed by paying an annual premium of INR125 ($1.74). It will offer coverage up to INR150,000 ($2,094.12).
To obtain the increased coverage of INR450,000 ($6,282.16) and INR750,000 ($10,470.27), the insured will have to pay annual premiums of INR375 ($5.24) and INR625 ($8.73), respectively.
Under this insurance plan, coverages for oral cavity, lung, breast, cervical, and colorectal cancers are offered. According to an estimate, these types of cancers account for 47.2% of all cancers in India.
Aditya Birla Health Insurance CEO Mayank Bathwal said: “Through this partnership with MobiKwik, we intend to make health insurance affordable for millions of Indian families.
“We believe a convenient customer journey supported by accessible digital purchase, and a simple claims procedure can enhance customer experience, and that MobiKwik is the right partner in helping deliver a seamless customer experience alongside customised products.”
MobiKwik co-Founder Upasana Taku said: “Against the backdrop of the rising number of cancer cases, we have introduced affordable insurance plans for users as they navigate in their fight against the illness.
“The Cancer Protect plan bolsters MobiKwik’s commitment to support India’s healthcare needs, and enables financial inclusion for millions of Indian families, threatened by any kind of cancer.”
Going forward, Aditya Birla Health Insurance plans to provide other types of health insurance plans including accidental hospitalisation and heart secure on the MobiKwik platform.
In September this year, MobiKwik filed an application with the Insurance Regulatory Development Authority (IRDA) for a corporate agency (composite) licence.