Minet Kenya has introduced a cover for boda-boda riders, hoping to ride on the compulsory order by the government that they be insured.
In his budget statement, National Treasury Cabinet Secretary Henry Rotich said the riders will be required to take a third party cover to take care of their passengers and other road users.
This follows the National Treasury and Ministry of Interior directives which now make it mandatory for boda-boda and tuk tuk riders to procure a third-party insurance cover.
It comes in three bundles; third party, comprehensive and a hybrid of personal cover and third party.
“This is a product that has been developed in close collaboration with the players in the boda-boda sector, taking into account some of the feedback we received from the end users,” said Minet Kenya Associate General Manager in charge of Business Development, Latif Wekesa.
Wekesa was speaking at a meeting convened by the company to train and sensitize boda-boda operators on the need to have insurance cover for their businesses.
The new product offers motorcycle comprehensive cover, a motorcycle third party cover, and a hybrid motorcycle third party plus Personal Accident extension.
Boda-boda Safety Association national Kevin Mubadi lauded Minet’s move for unveiling this new product, adding that the product resonates with members insurance needs and the pricing reasonably well.
“We have also made the product available on digital platform through *202# to expand accessibility throughout the country,” Wekesa added.
He added that Minet was in discussions with various micro-finance institutions to provide financing for premiums payment to make it affordable to many.
Some of the underwriters Minet is working in partnership with include Monach Insurance and Pioneer Assurance.
It is estimated that there are over 1 million boda-boda operators in the country.
