Development of insurance and microinsurance product for Lynk

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Development of insurance and microinsurance product concepts for Lynk

by MSC
May 19, 2020
1 min

This video highlights the journey of how MSC and Britam collaborated to design a pay-as-you-go personal accident cover. This collaboration resulted in Lynk and Britam signing up a group personal accident cover for the 400 freelance workers on the Lynk platform to protect them in the event of an accident, temporary or permanent disability, and death.

With 200 million people aged between 15 and 24, Africa has the largest population of young people in the world. Yet as per the World Bank, youth in Africa count among 60% of all unemployed people in the continent. Most of the unemployed youth in Africa are engaged in the informal sector. More opportunities and avenues for job creation for this vibrant segment can be treated through the gig economy, and though the gig economy has played a critical role in opening up more job opportunities— especially for the youth, it has come with its own set of challenges. These include its inability to provide social securities and benefits to workers—an opportunity for innovation!