Kenyan insurtech start-up MotiSure is filling a gap in the market for affordable insurance for micro-mobility providers, particularly motorcycle taxi (boda boda) operators.
Affordable insurance is often a barrier for citizens to enter the market and provide micro mobility, in parts of the African Continent where there is little opportunity for employment or entrepreneurship. Kenya is still reliant on traditional insurance providers that still rely on paper-based processes that are lengthy and complicated. Often, insurance providers demand payment for long-term insurance upfront and the premiums are expensive and beyond the reach of most citizens.
MotiSure offers a service that motorcycle taxi operators can opt-in to by making micro-payments using mobile money. It’s potentially a growing market as government data showed the number of registered motorcycles in 2018 was 1.4 million in Kenya.
MotiSure CEO and co-founder Joel Macharia told TechCrunch: “We are providing safety nets at affordable prices, and throughs easy-to-access channels.”
MotiSure’s insurance premiums can be as little as $0.1 a day ($3 a month)and includes medical expenses up to $6,000 annually for riders but they must make consistent payments  for several days to get the benefits. Passengers are also entitled to personal accident cover for every trip, with premiums based on duration of trip, and qualify for benefits immediately. The company is now looking at expanding the service to East Africa.
Image: MotiSure
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