Boda Boda Riders to Get Automatic Health and Life Insurance Cover in New Partnership

Fortune Credit, a licensed digital credit provider, and Turaco Microinsurance Limited have launched Fortune Boda Cover, an affordable health and life insurance product designed as a financial safety net for boda boda riders.

In a statement dated Friday, June 13, the joint press release showed that the insurance cover was embedded directly into motorcycle loans offered by Fortune Credit.

This innovation is set to benefit over 20,000 active customers of the digital credit provider, who will only be required to pay premiums as low as Ksh100 per month.

Under the coverage, the riders will receive up to Ksh20,000 annually in Hospital Cash benefits.

Fortune Boda Cover also includes Accidental Medical Reimbursement Benefit of up to Ksh 50,000 per year in addition to Total Temporary Disability Benefit of up to Ksh 20,000 per year.

Boda riders onboarded in the new health cover will also receive life cover that will pay Ksh100,000 in the event of the death of the beneficiary.

According to Janet Kuteli, CEO of Fortune Credit, the two companies partnered to launch the product to address the numerous challenges riders encounter on a daily basis.

“Our customers face real risks every day on the road. Many of them are young people striving to build a better future through boda boda riding," the CEO stated, "This partnership makes it easier and more affordable for them to access meaningful protection and stay financially secure.

On his part, Turaco CEO Ted Pantone underpinned that Fortune Boda Cover will be beneficial for many riders who will get benefits through an easy and faster claim process.

“Insurance should be simple and within reach for everyone, especially those in high-risk jobs like boda boda riders. By embedding protection into loans, we’re removing barriers and giving riders the safety net they deserve," he stated.

For boda boda riders like Peter Mwangi, this cover is a game-changer for them and their families. “I’ve seen friends struggle after accidents when they have no money and no support,” he said.

“This cover gives me peace of mind. Even if I’m off the road, I know I can still take care of my family.”

The Fortune Boda Cover can be accessed at any Fortune Credit branch countrywide.