In a significant move to enhance safety and financial security for electric vehicle operators in Kenya, GA Insurance Ltd has teamed up with ARC Ride and M-TIBA to introduce a groundbreaking personal accident insurance plan. Dubbed “SwapCare,” this plan is specifically tailored for electric motorcycle riders who use ARC Ride’s e-battery swap services. This initiative aims to provide comprehensive accident coverage integrated directly into the battery-swapping process, offering riders protection without additional administrative hurdles.
Innovative Approach to Rider Safety and Convenience
SwapCare, underwritten by GA Insurance and powered by M-TIBA’s advanced health insurance platform, provides accident coverage that is automatically activated every time a rider swaps a battery at an ARC Ride station. This innovative approach ensures that insurance is both easily accessible and seamlessly integrated into the daily operations of electric motorcycle riders.
In the unfortunate event of an accident, SwapCare covers hospital bills, eliminating the need for out-of-pocket payments. The insurance also provides cash compensation for lost income if a rider is hospitalized, and in the case of death, it extends to funeral expenses, offering crucial support to affected families.
Leadership Insights on the Collaboration
Joseph Hurst-Croft, CEO of ARC Ride, underscored the importance of this partnership in supporting Kenya’s rapidly expanding electric mobility sector. “ARC Ride is at the forefront of Kenya’s electric mobility revolution. By embedding insurance with our battery swap services, we not only enhance safety and peace of mind for our customers but also elevate their overall experience, distinguishing ARC Ride in the rapidly growing EV market,” Hurst-Croft explained.
Pieter Prickaerts, CEO and Managing Director of M-TIBA, highlighted the technological innovation driving this insurance solution. “M-TIBA’s platform enables real-time embedded insurance solutions, offering health and accident coverage directly linked to essential services like battery swaps. This approach significantly reduces administrative overheads while making insurance more accessible to Kenya’s underserved markets, particularly for those in the informal sector,” Prickaerts noted.
Vijay Srivastava, Group CEO of GA Insurance, emphasized the broader impact of the initiative. “This partnership underscores GA Insurance’s commitment to supporting sustainable clean energy in Kenya’s transport sector. By integrating insurance into everyday activities such as battery swapping, we ensure that protection is both affordable and readily available for electric vehicle operators, aligning with our mission to promote economic resilience and environmental stewardship.”
Addressing Environmental and Economic Goals
The SwapCare initiative is not only a local solution but also contributes to global efforts to combat climate change. According to the United Nations Environment Programme (UNEP), the widespread adoption of electric motorcycles could prevent 11 billion tons of carbon dioxide emissions by 2050, while saving motorcycle owners an estimated KES 5 trillion (USD 350 billion) in fuel and maintenance costs. By making insurance easily accessible, the program aims to further encourage the adoption of electric vehicles (EVs) in Kenya, contributing to both environmental sustainability and economic growth.
Extending Insurance Coverage to the Underserved
A critical aspect of the SwapCare program is its potential to extend much-needed accident insurance coverage to boda-boda riders, who often lack access to such services. According to the Kenya Demographic and Health Survey, only 26% of the population currently has health insurance, with the majority of coverage concentrated among wealthier demographics. This initiative, therefore, plays a crucial role in providing financial protection to riders, particularly those in the informal sector, who are typically underserved by traditional insurance models.
Conclusion
The launch of SwapCare marks a significant step in improving the safety and well-being of electric motorcycle riders in Kenya. By integrating accident insurance into ARC Ride’s battery swap services, GA Insurance, ARC Ride, and M-TIBA are pioneering a new approach to making insurance accessible, convenient, and affordable for riders. This partnership not only strengthens the growing electric mobility ecosystem in East Africa but also supports Kenya’s broader environmental and economic goals.
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