Jubilee rolls out cash back reward as it woos women
What you need to know:
- Heritage Insurance product is known as Ladies First includes a comprehensive motor cover for car, liability to third parties and emergency medical expenses.
- “Ladies will now have a product that caters for more than just motor insurance, they will also enjoy great discounts at selected stalls and spas,” said Jubilee CEO Patrick Tumbo.
Insurance companies are battling to win over women through motor vehicle covers designed specifically for them due to perceived lower risk compared to male drivers.
Jubilee Insurance and Heritage Insurance Company have introduced motor vehicle insurance products targeting women.
This follows similar services introduced by CIC a few years ago as the insurance industry segments the market according to risk profile.
LESS RISKY
Women drivers are perceived to be less risky hence unlikely to see the companies pay huge claims out of accidents.
These products provide cover for women hand bags and other properties which could be stolen or destroyed while in the vehicle.
Jubilee’s product is known as Lady Jubilee offers cash back reward to accident free ladies. It comes with a wide range of benefits including free home insurance, free hand bag contents cover, free personal accident, free medical checkups, payment of school fees for children in case of an accident and road rescue services.
“Ladies will now have a product that caters for more than just motor insurance, they will also enjoy great discounts at selected stalls and spas,” said Jubilee CEO Patrick Tumbo.
The product has three bands based on the sum assured or value of the vehicle. The categories include; bronze for cars valued between Sh300,000 and Sh1 million, silver Sh1 million to Sh2 million and platinum for vehicles worth Sh2 million and above.
Heritage Insurance product is known as Ladies First includes a comprehensive motor cover for car, liability to third parties and emergency medical expenses.
DISCOUNTED RATES
Jubilee has partnered with different corporates among them Deacons, Orchid Valley, Nation Media Group, Farmers Choice, Serena Maisha Spa, Oil Libya, Aga Khan University Hospital and City Walk, to provide their products and services at a discounted rate.
Specifically, the women drivers will have annual spa treatment, Sh300,000 personal accident cover that include spouse and three children and cover for prized possessions like mobile phone, laptop and jewellery.
