New Insurance cover launched for boda boda riders

The Fortune Boda Cover is automatically integrated into loan repayments and provides a combination of health and life insurance. It includes hospital cash benefits of up to Ksh. 20,000 annually, reimbursement for accidental medical expenses up to Ksh 50,000, compensation of up to Ksh 20,000 for temporary disability, and a life cover of Ksh 100,000 for funeral expenses. Monthly premiums start from Ksh.100 and are built into the existing loan structure.

The product targets Fortune Credit’s more than 20,000 current borrowers, many of whom are boda boda riders, and will extend to new customers as the firm expands.

Janet Kuteli, CEO of Fortune Credit, said the initiative aims to offer protection against the everyday risks riders face. “Our customers face real risks every day on the road. This partnership makes it easier and more affordable for them to access meaningful protection,” she said.

Turaco CEO Ted Pantone noted that embedding insurance directly into loan products simplifies access for workers in high-risk and informal sectors. “Insurance should be simple and within reach for everyone, especially those in informal and hazardous occupations,” he said.

Fortune Boda Cover aims to improve access to basic health and income protection for riders across the country most of whom are uninsured and face significant financial vulnerability