- Early this week, Jubilee Health Insurance unveiled Elite Wellness Club
- Old Mutual Investment Group and I&M have similar products for wealthy investors.
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As the number of dollar millionaires rises in Kenya, insurance firms are coming up with tailor-made health and wealth services targeting such high-net-worth individuals.
On Monday, Jubilee Health Insurance unveiled Elite Wellness Club which will see members have access to a wide range of world-class healthcare services, delivered with utmost professionalism and care.
The Elite Wellness Club is a collaborative effort with various healthcare providers in the Jubilee Health Insurance provider panel, with the Aga Khan University Hospital (AKUH) being the first hospital to join as a partner.
To join this prestigious club, executives that take up a medical cover, receive an invitation to unlock the exceptional benefits and services offered.
It offers a host of tailored benefits specifically designed to meet the unique needs of executive clients.
Members will enjoy personalized care and priority access to premier service providers, ensuring that their healthcare journey is seamless and efficient.
According to Jubilee Health CEO Njeri Jomo, the product addresses the specific needs of business executives, offering a program tailored to their unique requirements.
"The launch of the Elite Wellness Club will reshape healthcare delivery by providing express services to C-Suite clients. We understand the demanding nature of their roles as industry leaders, and we aim to ensure they have more time to focus on what matters most to them,'' Jomo said.
Aga Khan University Hospital CEO Rashid Khalani also shared his enthusiasm about the collaboration, saying that they are delighted to partner with Jubilee Health Insurance for the programme. launch of the Elite Wellness Club.
"Through our Family physicians, we will offer holistic care, including a wellness program that will enable patients to identify diseases early for timely intervention,'' he said.
The insurance firm did not give details on the amount needed to qualify for the club.
This is coming just a year after Old Mutual Investment Group launched three wealth plans targetting high-net individuals.
The three customised investment portfolios are aimed at guiding clients to grow, leverage, protect and transfer wealth.
To invest, clients are required to put a minimum investment amount of Sh10 million or its equivalent in a preferred hard currency.
“This will comprise either of cash or current investment portfolio in marketable financial securities like treasury bills, bonds, listed and unlisted shares,” OMIG’s Group East Africa MD Anthony Mwithiga said.
Out of the three available portfolios, the Conservative Portfolio option is meant for clients or investors seeking high levels of liquidity and minimum or no value volatility of invested funds.
In 2021, I&M Bank set up a wealth management and advisory business targeting high-net-worth clients in a bid to diversify its non-funded income portfolio.
The service is offered through I&M Capital, managing for the clients a range of products and services that include fixed-income securities, portfolio restructuring and optimisation, investment loans for government securities, insurance products and equities.
It also offers offshore investments in collaboration with Bank One Mauritius, which like I&M Bank and I&M Capital is a subsidiary of I&M Group.
These services are coming against the backdrop of the latest Africa Wealth Report by Knight Frank, which shows the number of dollar millionaires in Kenya is on the rise.
According to the report, Kenya has 8,500 individuals with a net worth of over $1 million (Sh117 million).
It has the fourth-highest number of dollar millionaires in the continent after South Africa, Egypt and Nigeria.