NEW YORK, NY, UNITED STATES (March 15, 2024) – MIC Global and Turaco Inclusive Limited T/A Turaco are partnering with Hygeia HMO to drive growth and make affordable healthcare protection accessible to more underserved individuals in Nigeria.
MIC and Hygeia have been in partnership since 2021, encouraging 12,000 Hygeia customers to put their health first and attend recognized hospitals in their time of need.
MIC’s tailored MiIncome digital reinsurance solution supports local insurance partners to provide Hygeia customers with inconvenience payments, which can be used to assist with the cost of their hospital stay (24hrs+) and expenses incurred during their stay.
Jamie Crystal, Co-Founder & CEO, MIC Global, said:
“With Turaco leading the way, and building on our shared success with Hygeia, we are looking forward to helping more people in Nigeria gain access to valuable insurance products, supporting them when they need it most.”
Turaco joined the partnership through the acquisition of MicroEnsure Ghana in 2023. Now, Hygeia HMO and MIC Global benefit from Turaco’s expertise in facilitating growth, as well as premium and operational support.
Together, the three companies are embarking on a renewed mission to expand healthcare protection within the Nigerian market by developing new products and increasing distribution and accessibility with new corporate partners.
Ted Pantone, CEO & Co-Founder, Turaco, said:
“We are thrilled about this partnership with Hygeia HMO and MIC Global. With 80% of Nigeria still uninsured, but high levels of fintech penetration, Nigeria provides an ideal opportunity for Turaco’s white-labelled, tech-enabled model. In the first year of our Nigeria operations, we saw a high demand for insurtech solutions from both distribution partners and customers.”
Hygeia offers a wide range of health plans for Nigerian individuals, families, and businesses. This partnership enables Hygeia to reach and protect more customers with health plans that ensure people can affordably access medical care through its extensive healthcare provider network.
Kingsley Ezeocha, Head of Sales and Marketing, Hygeia HMO, added:
“We are excited with this partnership as it is in line with our mission: To help our members access quality healthcare affordably. The economic realities in the country have greatly put a divide between the rich and the poor, making quality healthcare inaccessible to a large number of the populace. Over 30 years now, we at Hygeia HMO have championed making quality healthcare accessible and affordable.”
About MIC Global:
MIC Global is a full-stack embedded micro insurance provider purpose-built to transform the insurance industry by reimagining and integrating simple and relevant insurance products that provide loss of income cover for people so that they can provide for their families and recover swiftly. MIC was founded with an aspirational goal to help close the insurance protection gap by providing inclusive and affordable insurance to people and to support them in their time of need.
To learn more, please visit https://www.micglobal.com or Contact Us (Press Inquiries)
About Turaco:
Turaco is a Pan-African insurtech driving financial resilience in emerging markets with simple and affordable health and life insurance for the underserved mass market.
Founded in 2019, Turaco is present in Kenya, Uganda, Nigeria, and Ghana. Turaco partners with leading mobile network operators (MNOs), technology-enabled companies and financial institutions to embed and distribute insurance products to their customers. With Turaco, individuals can secure insurance coverage with premiums starting as low as $1 per month. Turaco processes claims in less than three business days, ensuring customers receive their money when they need it the most. With a vision to insure 1 billion lives, Turaco has insured more than 1.5 million lives and has facilitated the payment of more than 20,000 claims to date.
For more information, please visit https://www.turaco.insure/
About Hygeia HMO:
Hygeia HMO is a healthcare management organization (HMO) in Nigeria that focuses on providing comprehensive and quality healthcare services. Their mission is to improve the health and well-being of individuals and communities by offering a range of healthcare plans and services. Hygeia emphasizes the importance of preventive care, health education, and access to medical services. They strive to create a healthier population through innovative and patient-centric healthcare solutions.
For more information, please visit https://hygeiahmo.com/