, NAIROBI, Kenya, Nov 9 – AAR Insurance has launched a new medical cover targeting small and medium enterprises.
The company’s Managing Director Nixon Shigoli said the cover targets both owners and employees and allows small firms to choose what should be included in the medical cover.
“Majority of Kenyan businesses fall in the SME category and employ millions of Kenyans. Yet most of them do not provide medical insurance to employees. The productivity of a business depends on the health and wellbeing of its employees. With our Medical Enterprise Plan for businesses, we want to empower SMEs to take control of what matters to them most in an increasingly competitive environment namely, human capital,” said Shigoli.
Prior to launching the product, AAR Insurance says it conducted a market survey to better understand the health insurance needs of SMEs.
“Previously, medical insurance policies for SMEs were standard but more clients are demanding tailor-made packages. That’s why we conducted a market survey to gain a better perspective of the SME market,” he added.
To qualify for the cover, an SME must enlist between 3 and 99 employees. This is a shift from the previous medical plans offered to SMEs by AAR covering between 7 and 20 employees.
Going forward, AAR Insurance, says it is now eyeing the huge, untapped SMEs market to grow market share.