Minet Kenya Insurance Brokers Ltd has announced a new partnership with CarePay Limited to implement M-TIBA as an IT solution for future insurance and fund management products.
The partnership makes Minet one of the first large insurance brokers in Kenya to adopt a backend platform, specifically designed for mobile, in managing a medical scheme.
The M-TIBA platform has been developed by CarePay, in partnership with Safaricom and PharmAccess Foundation. It provides a secure and transparent interface between patients, providers and funders.
Mr. Sammy Muthui, Managing Director at Minet says, “We are developing a range of new solutions for our existing and new clients. We need a backend solution that utilizes smart tech. In Kenya the smartest tech, with the highest penetration, is mobile. We’re pleased to be leading the way on mobile health innovation and we see M-TIBA as the future for the management of medical schemes for our corporate clients.”
M-TIBA launched two years ago in Kenya and has already contracted over 530 healthcare facilities across Kenya and nearly 1 million users. With this platform in place, insurance brokers and insurers are going to identify considerable reductions in resources spent on administering their medical schemes and a significant decrease in the turn-around time for claims settlement.
“The M-TIBA platform offers a scalable solution for healthcare stakeholders to innovate around services and payments. Through this digital infrastructure, Minet will collect accurate real time data, enabling them to improve underwriting, premium pricing and payouts.” Kees van Lede, CEO at CarePay comments,
Mr. Muthui, concludes, “Minet is gearing up towards holistic insurance coverage for its clients and we see M-TIBA contributing towards that objective, by helping in the drive towards health inclusion. Medical claims administrators will be able to access accurate data that will inform better decision making on MINET’s product offering moving forward.”