November 26, 2020
FijiCare Insurance Limited (FijiCare) is pleased to announce that its microinsurance bundled scheme has now been offered in Vanuatu and Kiribati.
FijiCare piloted an insurance product that offers the benefits of having both life and non-life insurance covers. This is not presently offered by any single insurer in the Pacific. The product primarily targets the public and private sector, boosting the resilience of employees and their ability to cope with a range of events that can cause financial shocks.
The micro insurance bundled product was first introduced by FijiCare in 2017 to the sugarcane farmers through the support of the Reserve Bank of Fiji and the Pacific Financial Inclusion Program. Our micro insurance product provides cover for (i) funeral, (ii) term life, (iii) personal accident and (iv) fire on dwelling. Similar micro insurance bundled scheme has been offered to other Fijian sectors in agriculture that includes coconut, rice, dairy and the scheme has been further extended to social welfare recipients through the support of the Fijian Government.
This scheme has now been rolled out to all body corporates in Fiji as well as to other Pacific Island countries including Vanuatu and Kiribati. FIL is continuing to work to introduce this scheme to other countries in the Pacific.
Commenting on the enhanced coverage for the microinsurance scheme, the Executive Director of FijiCare, Mr. Avi Raju said “We are pleased to be able to offer this successful product beyond Fiji and into the Pacific Island countries. Our aim is to offer this first of its kind bundled product to other countries in the Pacific with a viewpoint to create general awareness about insurance and its benefits to the populous within the Pacific region.”
For more information, please visit our website www.fijicare.com.fj
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