The Keke Pass insurance product developed by the insurance firm, is aimed at providing cover for Keke riders, their passengers and third-party coverage for road users with varying degrees of compensation.
The product which was launched at the Nyanya Keke Park, enables Keke riders to get up to N150,000 in compensation and it is being deployed in partnership with the various tricyclists’ unions across the country. Speaking at the event, the managing director/ chief executive officer, Universal Insurance Plc., Mr. Benedict Ujoatuonu, said the product became necessary because the conventional insurance products do not take into account the peculiarities of ordinary Nigerians.
“Keke Pass is Keke Passenger Assurance Safety Scheme and it is intended to provide some personal accident cover for the riders and their passengers in terms of injury, death and third-party liability while riding their Keke. “Beyond the unique benefits this product provides for the riders, it makes it affordable because it is cheaper. It is also very flexible. This is because we are dealing with people in the lower cadre. The product is technologically-driven, end-to-end and sold via electronic platform. With your mobile device, you can have access to it,” he explained.
Source: Insurance Report (insurancereport.net)
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